A fundamental aspect of business success is supply chain management. Recent years have shown the importance of robust supply chain processes, which include the security of raw materials and the optimization of business processes for maximum operational efficiencies.
No industry sector is exempt from market-related changes driven by supply and demand; however, the pharmaceutical industry specifically has struggled with massive flux associated with ongoing trade disruption and uncertainty in the global economy as drug prices keep rising and clinical trial failures become more and more common.
What is an enterprise resource planning system?
Numerous industry professionals believe that the key to shoring up commercial supply chain operations, and ensuring a steady supply of drugs is available to the market, is the modernization of business operations.
Enterprise resource planning (ERP) software could prove essential to supply chains in the future. ERP software offers a valuable information system that helps companies evaluate and optimize supply chain operations. Businesses employ ERP in supply chain management to characterize the multiple elements that could affect the provision of goods and services.
The cost of products or services, vendor selection and procurement, and inventory management are all included in supply chain management. ERP is an end-to-end solution that enables companies to manage their whole value chain and optimize it accordingly.
Typically, ERP solutions include a variety of administrative tools that assist businesses in honing their competitive advantages. These services go further than the raw material to the completed product pipeline—they encompass all aspects of a business, including human resources and financial management.
How ERP enables modernization of medicine
Strategic supply chain management necessitates meticulous engagement with a variety of stakeholders and a seamless data flow between a range of business processes. This is a challenge in any industry, but the variety of chemistry manufacturing controls (CMC) and regulatory affairs inputs impacting drug development make supply chain optimization a daunting task.
Many of the existing cloud-based ERP solutions that automate primary supply chain management tasks for commodity markets do not transfer to the biomedical field. However, ERP solutions tailored for the pharmaceutical market are value-added expenses that enable fully optimized supply chains, cost savings by reducing product and ancillary expirations, enhanced vendor quality, reliability, integrity, and more.
Typically, these solutions can be categorized into one of two brackets: value-adding (through the direct improvement of product or supply chain quality), or cost-cutting (by removing inefficiencies and bottlenecks). Intrinsic value can also be found in having a compliant, consistent end-to-end process.
Modernizing primary and secondary activities throughout the entire drug development process is crucial for revenue maximization through cost optimization and increased profit margins. More significantly, it underlies the success of pharmaceutical companies in providing high-quality products to patients, as they are the end users of any drug product. Thus, all pharmaceutical businesses should operate with a focus on patient well-being as well as profit generation. ERP solutions in supply chain management can be fundamental to that initiative.
Looking for supply chain management services?
DS InPharmatics specializes in advanced supply chain management services for biopharmaceutical applications. With experience in end-to-end assessments and optimization, and expertise in chemistry manufacturing controls, regulatory affairs consulting, and quality assurance, it is in a unique position to help pharmaceutical companies create value in their supply chains.
About DS InPharmatics LLC
DS InPharmatics (DSI) provides regulatory, technical, and project management consulting services to healthcare product companies that manufacture and/or market pharmaceuticals, biopharmaceuticals, and cellular and gene therapy products.
Since 2007 we have provided our clients with innovative strategies and exceptional quality work products intended to enhance product development, approval, and marketing presence. Whether advocating CMC strategy, directing CMC operations, or developing CMC submission content that represent the best interests of emerging biotech, we focus on the critical CMC issues and build programs that enhance development.
Sponsored Content Policy: News-Medical.net publishes articles and related content that may be derived from sources where we have existing commercial relationships, provided such content adds value to the core editorial ethos of News-Medical.Net which is to educate and inform site visitors interested in medical research, science, medical devices and treatments.