Who Is The Real Customer In The Pharmaceutical Supply Chain?
As any business understands, an efficient supply chain can make or break profit margins. Studies have shown that the pharmaceutical supply chain is one of the most efficient, delivering medicines to nearly 70% of Americans. Even so, there are a few complications yet to be resolved that could improve the process.
As suggested in “Thoughts on the pharmaceutical supply chain,” posted on Strategic Sourceror, a strong supply chain is not only good for your business but tough on your competition. However, the pharmaceutical industry has a slightly unique challenge in that they have more parties to satisfy than just the consumer. There are researchers and doctors looking for miracle medications, doctors that want to prescribe the right treatments for the right patients, and the patients that just want to stay healthy. However, if researchers and doctors are spending too much time on procuring and testing formulas, as well as dealing with regulatory compliance issues, then patients have to wait longer for life-changing medicines.
Pharmaceutical businesses can streamline operations and get products into the hands of consumers faster by deploying more efficient business management solutions. A robust enterprise resource planning (ERP) solution can provide the time-saving automation as well as the control and insight needed to overcome common challenges. You can manage all of your core business data from within a single, integrated ERP solution, such as Microsoft Dynamics® ERP, including financials, supply chain and inventory, manufacturing and distribution operations, human resources and payroll, and other business data. With the data you need at your fingertips, you can respond faster to changes in demand, supplier complications, and changes in regulatory compliance. You can use built-in business intelligence and reporting features to analyze, prepare reports, and share data with researchers, regulatory agencies, or doctors as needed.
Microsoft Dynamics ERP offers specific features designed for the pharmaceutical industry including electronic batch records, audit trails, electronic signatures, lot traceability, and support for unique compliance regulations including cGMP, HACCP, ISO, and others. Manufacturers can manage recipe or formula-based manufacturing, co-product or by-product management, and potency management.
Strengthen your supply chain and keep the pressure on competitors by deploying a more efficient technology. Contact AKA Enterprise Solutions to learn how you can streamline your supply chain and improve other business operations with ERP.