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Pharma ERP software streamlines various activities in pharma companies assisting them to gain desired outputs. ERP Pharma software automates pharmaceutical business operations while also keeping an accurate track of all sensitive functions in the company, including formulation, costing, expiries, compliance, and more. ERP for pharmaceutical in India brings transparency to operations and seamless functioning of the complete manufacturing unit of the pharma business.
Inventory plays a significant role in pharmaceutical companies. Sometimes, there is an acute shortage of medicines and other pharma-related products due to unforeseen circumstances like the recent coronavirus pandemic. In those cases, the inventory may fall below the set threshold. Also, creating & maintaining real-time inventory status reports on a ledger and placing orders manually with the vendor is a time-taking process.
Governments worldwide are coming up with stringent regulations to monitor pharmaceutical companies. And if you fail to adhere to compliances, you may attract massive fines or risk shutting down your company. Creating a system of checks and balances, generating and validating bills and receipts, tracking changes in rules and regulations cannot be done without pharma ERP software.
Building robust and long-lasting customer relationships is crucial for companies across industries. But for that, pharmaceutical companies require massive data repositories to formulate competitive price quotes. Without Pharma ERP, it becomes challenging to collect customer segments based on geographic, demographic, psychographic, and behavioral data.
Mandatory government regulations make product traceability essential for pharmaceutical companies. Therefore, pharma companies must maintain a detailed record of all product transactions, including historical purchases. They also need to track the movement of goods — raw materials from the vendor to the inventory of pharmaceutical company and finished products from the warehouse to the end-user.
Tracking operational, material and manufacturing costs manually are challenging for pharmaceutical companies. On the other hand, ERP in pharmaceutical industry calculates the final product cost by accounting for R&D cost, raw material cost, customer incentives, insurance costs, and much more.
Sage ERP India allows users to create product categories based on the product’s management method — manufactured, purchased, generic, and sub-contracted, with their descriptions. You can define these products at a micro-level based on their unit of measure — Vial, Bottle, Strip, Ampoules. Also users can also enter the dimension, colour, expiry flag control, and the supplier’s code.
Purchase flow is divided into 3 categories:
General Material PurchaseDepartment users can raise a material requisition request for the required raw material to the storekeeper. Consequently, the storekeeper will check if the material is available in the warehouse using Sage X3’s inquiry screen.
Raw Material PurchaseSage X3 ERP Pharma has an MRP module can automate the raw material purchasing process. Once a Purchase Order (PO) is created in the ERP software, it can move across multiple approval levels. The approved PO is forwarded to the vendor as soon as the user approves the PO through signature management in Sage X3.
Promotional ItemsPromotional products include diaries, pens, perfumes, etc. Tracking these products is essential because they add up to the inventory cost. With Sage X3 pharma ERP, you can follow which product was issued to which customer.
Sage X3 provides a single platform through which users can manage the whole inventory — from raw materials to finished goods. A request screen contains all the supplier quotations and RFQs. Moreover, the purchase receipt feature allows replenishing the stock from the warehouse. Further, the software also tracks the quality inspection when the goods are received. If the quality of goods is not up to the mark, they are returned to the supplier, and a purchase return requisition is raised in the ERP system.
Sage X3 ERP in pharmaceutical industry efficiently manages warehouses by marking them with different codes. It also keeps locations with similar criteria under one group. Users can view items stored inside each warehouse. They can dispatch them to the required distribution centre or arrange for a pick-up by wholesalers or retailers. The best part is that each transaction is recorded in the software. Moreover, you can also create various tabs in the dashboard, such as promotional goods, near-to-expiry, samples, expired material, and many more.
Pharmaceutical products are assigned batch numbers whenever there is an outward or inward material movement. Therefore, inventory valuation is done on an actual basis. Sage X3 ERP software for pharmaceutical industry has LOT management flag helps you achieve this inventory costing.
You can also assign an expiry date to the batches that have been produced through the First Expiry First Out (FEFO) basis. It helps allocate batches to a work order or a sales order automatically. However, users can manually assign batches if they want to change the LOT allocation.
Sage X3’s quality control module allows the user to track the quality of the entire manufacturing process — from the purchase of raw materials to manufacturing finished products. The quality control module in this ERP software is used at two places — Manufacturing receipt and PO receipt. The system has a technical sheet containing the products’ specification that is supplied to the user. This sheet helps perform quality checks.
Sage X3 also allows updating the testing parameters at every product master. So, you can update different Pharmacopeia, such as the Indian Pharmacopeia, US Pharmacopeia, using Sage X3.
The sales process in Sage X3 pharmaceutical ERP software begins by creating a sales quotation entry. A Sales order entry follows it. Then, the user can execute stock allocation to order followed by delivery entry in Sage X3 and finally generate a sales invoice. The pharmaceutical industry has several customer categories: doctors, stockists, government organisations, and hospitals.
How Sage X3 manages Credit Sales?The sales order is fed in Sage X3, supplemented with a delivery and sales invoice. Also, maintaining appropriate control over the sales of pharmaceutical products is required by drug law authorities. Sage X3 pharmaceutical manufacturing software has many features like Drug license expiry date, Drug license number, and credit control that allows checking these statutory records conveniently. This pharmaceutical ERP also has a fail-safe mechanism. It can put an order on hold if the earlier records don’t match the required sales order. The order can be un-hold again once the approval process is complete. Therefore, there is no possibility of a data entry error.
Sage X3 pharma manufacturing software offers real-time traceability benefits which easily track goods throughout the entire lifecycle. It also offers a complete suite of supply chain management tools that allow pharmaceutical companies to-
With the ever-increasing regulatory requirements, companies must ensure they are compliant with all applicable guidelines.
With the Sage X3 ERP for pharma industry offers a comprehensive suite of solutions that streamlines the entire process for achieving and maintaining compliance with the various regulations.
Sage X3 business management software can provide access control for user accounts and limit access to certain functions and data. This makes sure that only authorized users have access to the data and reduces the risk of unauthorized information being accessed or altered.It also-
Sage X3 Pharma ERP software for manufacturing enables maintaining accurate quality assurance for pharmaceutical companies by-
ERP for pharmaceutical industry helps connect, integrate, and control each department in the chemical company while also automating all pharma manufacturing functions like inventory, planning, etc.
ERP in pharma is a software that aids pharma companies in minimizing the production and delivery time. It also manages all sensitive data of the business operations.
Helps to attain higher production by streamlining all the processes.
Easily handle accounting for all type of sales & purchases.
Manages the inventory control & also gets the accurate operational performance.
Saves Time and Operational costs.
Monitors manufactured goods distribution.
Better Customer Support.
Extensive reporting – You can have several reports in ERP which give you the list of all the transaction in your business.
You can take better business decisions with ERP on the go from any device, any place and any time.
Tracking the stock of inventory is an important factor & to maintain the stock of every raw material. Manufacturing industries have different departments like production, QC, Sale etc. & to know the current status of finish good easy with the help of Sage 300 cloud, ERP for Pharmaceutical Industry.
Clear visibility on cost management throughout the industry.
Accounting will easily handle for all types of customer & vendor bills.
Finance Module in ERP gathers financial data from various functional departments and generates valuable financial reports such as Balance Sheet, Trial balance, General Ledgers, Quarterly Financial Reports, Account Statements, Gross Profit Analysis.
Sage 300 cloud makes optimum utilization of all available resources, the result is higher efficiency and better performance. It can also track lot properties while optimizing and improving other business processes like batch production, sales functions, inventory control, purchasing, quality assurance, accounting and financials, regulatory reporting etc.