Increase in Demand for Empty Capsules Puts Pharmaceuticals and Nutraceuticals on Alert
A recent report suggests that empty capsules, either non-gelatin or hard gelatin, are expected to increase in demand for both the pharmaceutical and nutraceutical industry sectors. The global pharmaceuticals industry is expanding, as is the nutraceuticals market. While this growth is good for business, it may also signal the need to strengthen inventory management and the supply chain to ensure manufacturers are able to fulfill orders on time and in budget.
As discussed in “Empty Capsules Market: A Booming trend in Pharmaceutical Analytics Industry,” posted on MedaGadget.com, the demand for capsules is increasing. Due to growth in both the global pharmaceuticals industry and nutraceuticals market, experts suggest that capsules are expected to be consumed in even larger quantities in the next few years. Capsules offer a convenient method of consuming medications and health supplements. Encapsulating food supplements and functional foods offers easy on-the-go consumption.
Respond Quickly to Marketplace Trends with ERP
The businesses manufacturing capsules, as well as the ones using the empty capsules, should be on alert to supply chain weaknesses. As demand increases, empty capsule manufacturers may find it difficult to obtain the inventory needed to manufacture the capsules in higher volumes. Similarly, the pharmaceutical and nutraceutical manufacturers buying and filling the empty capsules may find it difficult to get the volume of empty capsules needed to fulfill customer orders. Don’t lose traction just as the market picks up steam, deploy a robust enterprise resource planning (ERP) solution to strengthen operations.
Modern ERP provides manufacturers with a powerful platform for capturing, analyzing and using core business data. You can manage financial transactions, supplier and vendor relationships, inventory, manufacturing and distribution operations, and other business tasks through this single, integrated solution. ERP streamlines common tasks, improving productivity, and offers business intelligence features that puts leaders closer to key data. You can use ERP to forecast customer needs and highlight other trending data. Armed with this insight, you can strengthen relationships with suppliers and avoid stock-outs. You can also forecast customer needs and ramp up production accordingly. In addition, alongside these changes, you can monitor financial information to protect profit margins.
Changes in marketplace demands can be good for business, when you are prepared to respond quickly to change. Contact AKA Enterprise Solutions to learn how to identify marketplace trends and prepare for an increase in demand with the support of ERP.
By AKA Enterprise Solutions, a Microsoft Dynamics CRM and ERP Partner for Life Sciences