Why do Pharma Leaders need smart ERP to support their business models?

  • 24 July 2020
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The current situation of the prevailing pandemic has tested the resiliency of the Pharma industry and brought about the opportunities for technological advancements. Pharma companies are grappling with unforeseen challenges to stay innovative and agile to respond dynamically and control the outbreak and its impact. Apart from managing supply chain challenges, quality management,  batch lot traceability, Pharma players also have to go under the immense pressure to develop and deliver the PPE kits under cost and provide medical devices and drugs to support the frontline workers and infected patients. 

But, what if these companies are held back with legacy software and excel sheets? Can they make rapid decisions when they need it the most? The Pharma leaders need the route to digitization to mitigate their ongoing concerns and manage the unprecedented demand and supply of essential medicines and PPE kits and immunity booster drugs to combat the battle of Covid-19. For all this, Pharma players need to be resilient and empowered with a robust and enterprise-ready ERP. 

Let’s talk about a few factors driving the move to digital transformation. We analyzed the key drivers of digital transformation and how it is going to reshape the future course of the global Pharma industry. 

  • Process efficiency and agility with in-built BI functionality 

Amidst Covid-19 crisis, the search for efficiency, agility and efficacy in bringing drugs to market has never been greater. That quest is driving the need for automation in the industry. To thrive in a digital world, Pharma companies need to deploy next-gen ERP to streamline their business processes. They need an ERP that can help them achieve real-time transparency of their clinical trials and deliver a step-change in meeting new expectations of customers, employees, patients and suppliers. 

  • Lot tracking and traceability

As Pharma business work in a highly regulated industry, your business demands lot tracking and traceability. Compliance with traceability means you need to respond dynamically at a lightning speed. SAP Business One helps you define the lot number of the raw material, define the expiry data against the lot number and trace in and out process of the Lot conveniently. 

  • Anytime and anywhere accessibility 

Anytime-anywhere information will increasingly become commonplace in the Pharma industry. SAP Business One empowers all business leaders to gain an overview of batch monitoring activities, product specifications, view formula secrecy, speed delivery of drugs by keeping a close monitoring of all vital aspects of the business while on the move. 

  • Quality Management

Now it is easy to conduct inspections throughout procurement and production with a single ERP. Automatically quarantine suspicious or substandard items for further inspection or disposal. Generate different types of labels such as sample, Quarantine, under test etc. SAP Business One makes it incredibly easy to keep tight control of quality management.

The Covid-19 pandemic is one such disruptive force that will have long-term implications on all industries and immensely over the Pharma industry. The way the drugs are developed and distributed and demands and supply is managed is taking a new shape. In the near future, when this pandemic will subside, the need for trust, quality, transparency and innovation will be paramount to make a business resilient for the long term. For the Pharma industry, this is the time to invest in a time-tested ERP and step in the world of speed, efficiency, precision and innovation.

Nidhi Batra

About the author

Nidhi Batra is a marketing and brand communication professional with 10 years of experience working in the dynamic B2B marketing environment. She strategizes, writes, reviews a variety of content for demand generation and sales support activities. Having a Master’s in English from Delhi University, she knows how to navigate her readers on insightful journeys with her SAP published blogs and thought leadership content.