The Life Sciences industries are vast as it covers drugs, vaccinations, pharmaceutical and medical equipments, R&D and many more. Life Sciences manufacturing industries are constantly changing and looking for new innovation, safety of patients and QC.As industry regulations are getting tightened, the challenges are on a constant increasing.
Due to increased costs & supply chain challenges, the Life Sciences industries have to struggle a lot to get succes. The industries are in desperate need of revolutionary technology that helps to face all problems. Enterprise Resource planning (ERP) software, specifically designed to face all challenges of Life Sciences industries.
ERP software helps in facing the below challenges faced by Life Sciences manufacturers:
1. Managing Multiple Inventories:
WIth an ERP software solution you can track and monitor real-time inventory data which in turn helps managers to take better purchasing decisions that’ll reduce inventory costs and helps in moving goods which are time-sensitive effectively.
The products which are failed to conform the standards should be be immediately identified in order to take respective action for the same which helps in decreasing the loss. An ERP software system plays a key role in identifying problems or identifying risks in an attempt to prevent their recurrence and respond appropriately to any current or potential product quality risks.
3. Clinical Trials Management
Clinical trials involve a large amount of testing, long product life cycles, and distribution of samples in various animal for effectiveness testing of drugs. Keeping record of all the samples collected and the specified modifications manually which are to be done is quite clumsy and can lead to huge loss. ERP software systems can easily manage all the above records and trial automatically in a single platform that can be accessed at any time and any stage.
4. Security of online Records
Data security is crucial for any drug manufacturing companies; whether it’s regarding formulation, material or sensitive reports and customer order or enquiry details. ERP software systems provide a complete set of integrated security features including access controls, data security and server and cloud based processing.ERP software systems security features give you complete visibility into transactional data, clinic records and many more.Electronic signatures and system passwords and Secured transactions by authorized software operators keep the data safe.
5.Regulatory compliances and safety reporting
Complying with the regulatory norms compulsory task to survive in the market and stay competitive. Following compliance through old method like manually or through spreadsheets, you are making it more complex process. Such older processes leads to heavy fines for your organization, or which may to lead to license cancellations.With the help of an ERP software, all the regulatory compliances and safety reporting are done accurately and timely .
6. Real-time Information
Get an ERP software solution, which gives you hands on access to real time data like, finances, sales forecasts, inventor and a view of your business flow in general, at any given time. It also helps staff with the real time information they need to do their jobs more accurately, thus improving the overall flow of your business which helps in business growth.
7. Cost Management
Therefore the Life Sciences manufacturers need an ERP software system which helps in monitoring the spend to vendors, provide complete visibility into day-to-day expenses, and help reduce overall operational costs.
UdyogERP is a premium business solution that can bridge the gaps between different departments in the organisation. It offers easy implementation, easy to use and help to take your business to the next level.