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Get a comprehensive understanding on potential for ERP Software
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Surviving in the competitive Pharmaceutical manufacturing space requires a scalable, flexible, and adaptable ERP software. Sage X3 contains advanced features that will help you cut costs, achieve efficiencies in supply chain management, adhere to government regulations, and perform repetitive tasks without any human intervention. As the industry matures, companies will benefit by integrating all business functions into one software through Sage X3 powerful built-in features.
ERP for Pharmaceutical manufacturing are bound by customer expectations and government regulations to have a robust system for tracking the entire supply chain, sourcing raw materials, and manufacturing finished products to labeling and distribution.
The following are the components of Sage X3’s supply chain management suite:
With Sage X3’s supply chain management suite, you will create a strong bond with your vendors, suppliers, and distributors and keep the regulators happy.
Governments globally are constitutionalizing strict regulations and are penalizing companies that don’t adhere to such laws. Sage X3’s powerful regulatory compliance suite consists of features that will allow you to monitor the new and updated government guidelines and stick to them.
Supply chain management is an integral part of the ERP for Pharmaceutical manufacturing industry. The time it takes to transport raw materials from the vendor to the company and then the finished products from the company to the end-customer play an essential role in deciding the product’s final cost. Sage X3 monitors the entire supply chain management and ensures that the core functions necessary for accurate quality assurance are in place. These include:
Sage X3 monitors all business-critical functions and provides a 360-degree perspective to stakeholders — frontline executives, C-suite executives, vendors, suppliers, distributors, customers, etc. It oversees forward and backward lot traceability, controls multiple batch creation and carries out proper labeling.
It also records every business transaction, maintains audit trails, and stores them in a single repository that can be accessed by authorized stakeholders only. Businesses gain visibility into their transactions that allow them to reduce their expenditure and increase profits.
Sage X3 accurately tracks products and ingredients and satisfies all FSMA requirements.
Further, Sage X3 allows companies to update their processes to the highest standards and enables them to make easy recalls.
Sage X3 monitors the quality of all business processes efficiently. It sees that every activity conforms to the set attributes and threshold. It also rigorously enforces inspection and checks that manufacturing activity is happening according to user-defined characteristics. Further, it also checks operational tolerances and notes the differences between expected and actual results.
One thing that differentiates the Pharmaceutical industry from other kinds of manufacturing industries is that there are many product variations as per customer specifications.
Consider Paracetamol that is used to treat fever and pain. It’s available in capsule, liquid suspension, intramuscular, effervescent, tablet, and intravenous forms. Also, the packaging may differ. Large containers are used when a considerable quantity has to be transported to hospitals or army cantonments. On the other hand, small sealed bottles are used while delivering them to Pharmaceutical.
Sage X3 manages such situations by adopting a formula-based approach. They link the packaging material with the product specifications so that it’s easy to produce different products that are similarly packaged and to track intermediates before they are distributed into smaller units.
A major hurdle faced by Pharmaceutical manufacturing companies is keeping track of operational and material costs. The absence of such data slows down such critical decision making processes such as product pricing strategies.
Sage X3, on the other hand, maps the final cost of manufactured products by accounting cost of raw materials, R&D costs, insurance costs, customer incentives, etc. It helps determine profitability. This is possible because it has multiple valuation methods that electronically capture expenses related to work in progress, overheads, labor, and ingredients.
In general, ERP for Pharmaceutical manufacturing creates no by-products. But in case they do, Sage X3 consists of methods that capture these costs as well.
It’s a common practice in Pharmaceutical manufacturing businesses to buy raw materials in one unit of measure, store them in warehouses in another, convert them into finished products in one more, and finally sell them in another. It is possible only due to ERP systems. Sage X3 selects the appropriate weighing system and then converts values instantly. This helps to assess cost in terms of weight, potency, size, solid percentage, etc.
Sage X3 ERP for pharmaceutical manufacturing also takes product variations into account. When solid converts into liquid or vice versa, its size, volume, area, potency, and other characteristics change. Sage X3 maps different Units Of Measure (UOM) with appropriate costs across the entire manufacturing schema and make measurements convenient.
As a Pharmaceutical manufacturing company, you should select an ERP for pharmaceutical manufacturing software that conveniently manages your business’s requirements. ERP systems with a robust process manufacturing foundation, and that can take care of the degree of variability of products and manufacturing processes should top your search list. You must pay great attention to whether the ERP system will help you lower down product manufacturing costs, improve scalability, provide better customer service, and can customize itself according to the situation at hand. Sage X3 provides all these facilities and will help your business to expand and scale quickly.
At Sage Software Solutions (P) Ltd., we are home to world-class On-Cloud ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. You can also write to us at firstname.lastname@example.org. We will provide you all the required support to implement a Cloud-based ERP solution in your company. Book an appointment today!
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Disclaimer: All the information, views, and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views, or objectives of Sage Software Solutions (P) Ltd.