A business case outlining the costs, expected benefits, and ROI of an ERP implementation is an integral part of initiating an ERP project. Therefore, the ability to understand the potential return on your investment (ROI) before making that investment is invaluable to any enterprise. A recent study on “The Total Economic Impact of Sage X3” has demonstrated an impressive 177% ROI on using Sage X3.
In our guide, we will cover industry trends, challenges, and process solutions and how an ERP solution can support businesses in the sector. Sage X3 ERP offers quality management features for the pharmaceutical industry in the Middle East region, including real-time monitoring and document control, to ensure regulatory compliance. Your ERP system must be able to trace product origin, its path through the production process, and its final destination.
Production Management
For example, ERP keeps track of price fluctuations and current market demand to make informed strategic decisions. Similarly, it keeps a bird’s eye throughout the entire production process to identify areas of waste, eliminate waste, reduce costs, and aggressively respond to market price wars. CGMPs enforce several different requirements of pharmaceutical manufacturers, including maintain sanitary conditions in laboratory, production, and storage facilities, measured processing dosages, and production task validation. The Sage X3 Pharmaceutical Preparation bundle contains several features that address these needs, such as recipe management and quality control points.
At the same time, production scheduling will reduce inventory costs by ensuring ingredients and products aren’t sitting on your shelves for extended periods of time. Tracking operational, material and manufacturing costs manually are challenging for pharmaceutical companies. On the other hand, ERP application in pharmaceutical industry calculates the final product cost by accounting for R&D cost, raw material cost, customer incentives, insurance costs, and much more. Managing production activities and providing insight into exactly what happened and when it happened is crucial to achieving product traceability. The Pharmaceutical Industry is bound to various stringent rules and regulations due to multiple mergers, tie-ups and acquisitions because different methods and ingredients are used to produce potent lifesaving drugs. Sage X3 ERP pharmaceutical manufacturing Australia, with its unique aspect of regulation compliance makes it perfect for pharmaceutical industries.
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SWK has the only turnkey bundled pharmaceutical preparation manufacturing solution available to help pharmaceutical prep manufacturers comply with all FDA regulations for serialization and traceability internally and across the supply chain. Why bother gathering data if you don’t have the ability to produce actionable information from that data? Some examples of pharmaceutical-specific reports include reports related to the frequency of expiring products in inventory, quality control test results, and trial. With many packages, you’ll also be given the option of creating custom reports or managerial dashboards. Creating and maintaining trace relationships between lots is arduous and time-consuming.
- Data Collection – This feature allows managers to stay up to speed with the latest industry trends by collecting and storing important customer, vendor and prospect data in a single place.
- As a pharmaceutical manufacturer, you have needs in addition to the basic customer management needs of any company.
- Collectively, these tools provide your pharma company with the necessary details to optimize supply chain operations and traceability.
- Most often, these challenges originate from systems, processes and workflows that contribute to ineffective inventory management controls.
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Meet End-to-End Regulatory Requirements
Supply chain traceability is an important component to regulatory compliance, especially with an endless number of new and updated guidelines. For more information on Sage Enterprise Management Consulting Services, please contact us at will be glad to assist you. You can also check the potency percentages of the product and check the variances in potency for the Products by using the ‘Lot detail by site’ report.
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. The company also found that the two disparate systems weren’t supporting the demands of their growth. In addition, the legacy accounting system was no longer being supported, so the business started looking for a new system to manage finance, distribution and manufacturing from a single, integrated ERP solution.
Complying with Government-mandated Regulations is Tough
It can ensure enhanced efficiency in the wake of a pandemic when time is crucial to life. The FDA has implemented several regulations regarding any outsourcing of processing because pharmaceutical manufacturing is an industry that may rely upon third party contractors to maintain profitable production lifecycles. These regulations reinforce several of the burdens of quality management for the contract manufacturer to ensure consistent product handling conditions across every stage. These include all activities related to actual production procedures for drugs, though may not entail any research or development processes unless that is included in the outlined contractual duties.
Sage X3 equips businesses in the pharmaceutical and nutraceutical industries with the tools necessary to compete in this highly competitive environment. As pressures mount for lower prices and greater regulatory reach, companies must still focus on improving thinning pipelines and managing rising operational costs. As the industry continues to transform, companies can benefit from incorporating all business processes into one software solution through Sage X3’s scalable, flexible, and cost-effective features. Sage 300 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.
How Does Sage X3 Help Pharmaceutical Manufacturers?
The various touchpoints starting from the warehouse to manufacturing till distribution make the processes lengthy and cumbersome. Sage ERP software solution identifies the loopholes and provides careful planning, execution and higher transparency to collaborate multiple processes onto a single platform. The ERP Pharma also offers interactive dashboards for highly transparent statistics and automated processes.
You can also assign an expiry date to the batches that have been produced through the First Expiry First Out (FEFO) basis. Sage X3 ERP for pharmaceutical companies streamlines product management, from formulation to delivery, ensuring the highest quality and safety standards are met. Even in helping to keep a record and streamline the manufacturing process, Sage ERP Solutions helps the manufacturers to keep service consistent and produce greater output. 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.
How ERP Software Addresses the Unique and Specialized Needs of Medical Device Manufacturers
X3 allows you to process and apply all of the data necessary to finalizing these procedures. The Sage X3Pharmaceutical Preparation bundle, powered by Sage, enables pharmaceutical manufacturers to remain informed of their supply chain movements and situations, allowing for precise reporting on compliance-related tasks. Inventory accuracy provides confidence throughout product planning, production, and fulfillment and minimizes disruptions that absorb additional costs. Be sure that the system helps you remain in compliance with the many other requirements set by the various regulatory agencies you undoubtedly report to. Some things to think about include built-in forms, predefined workflows, and other features designed to simplify compliance management.
Data captured from multiple sources like finished or still-in-production stages can be converted into actionable insights to estimate cost, deliverables, production, raw materials etc. A transparent system enhances visibility across departments by providing tools such as role-based views, real-time alerts and notifications, and real-time tracking and monitoring. The underlying processes, materials and ingredients are required to be connected in an effort to generate the detailing of data for real-time decisions. Assets are generally equipped with smart sensors which in turn continuously pull data sets from sources. Integrated systems from operations to business systems and supplier to Customers provides users from a holistic view of supply chain activities tracing overall efficiency.
We combine our expertise with accounting skills and systems experience, tailoring our services and solutions to satisfy your technology needs. Sage X3 ERP for pharmaceutical manufacturing also takes product variations into account. When solid converts into liquid or vice versa, its size, volume, area, devops team structure 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. Keeping in mind these challenges, Sage X3 ERP has been fine-tuned to meet these industry-specific requirements.