Waiting around for a prescription to be filled at my local pharmacy is not my idea of fun, particularly when they don’t have stock or are just so busy that the line stretches all the way back into the perfume aisle.
It got me thinking of what a highly regulated and intricate industry this is, and that most times as consumers and patients, we take the meticulous effort for granted. My knowledge of enterprise resource planning applications helps in my run through of how Microsoft Dynamics meets the needs for a forward thinking pharmaceutical company.
Successful pharmaceutical companies need to react quickly to global market changes. With ever greater competition from generic drugs, product innovation and technological advancement is imperative. Within the UK alone, the pharmaceutical industry is currently set to grow to $43 billion by 2020, from $28.8 billion in 2015.
Complying with regulations
Having worked alongside pharmaceutical companies, I know that one of their greatest challenges is ensuring that products comply with a plethora of international laws and regulations. Microsoft Dynamics software prompts companies, making FDA compliance a lot easier to achieve. Expensive paperwork errors are reduced, as are the number of preventable recalls. Quality management is reinforced at every stage through sample and batch management tools, accounting and work scheduling. Dynamics contains the necessary functionality to ensure Good Automated Manufacturing Practice.
Even with thorough planning and forethought, recalls do happen and they need to be conducted quickly and efficiently. It’s imperative that pharmaceutical companies have an operating system which can provide real-time oversight of the entire manufacturing and distribution process, from initial alert to fulfilment. Microsoft Dynamics software allows you to build recall response plans and use tracking tools and records to easily identify a product within the supply chain, once its left the production floor all the way through distribution.
Automation and tracking
As a consumer wanting the most advanced treatment readily available when I need it, time to market is something that pharmaceutical giants and niche players take very seriously. Equipped with automated systems that take advantage of categorised and serialised inventory, the leading pharma organisations know exactly where their inventory is, quantities in the warehouse, in transit or on the shelves. Being able to effortlessly track each individual product across the entire supply chain by means of Microsoft Dynamics 365 gives these organisations a competitive advantage and more time to focus on innovation.
Research and Development
Research and product development forms a huge part of any pharmaceutical company’s operation. Costs can rise remarkably quickly. Microsoft Dynamics budgeting forecasting modules ensure that inefficiencies and inaccuracies can be noted, and the budgeting and accounting managed.
The newly released Microsoft Dynamics 365 Operations, as well as the Dynamics AX and Dynamics NAV, are prime software choices to embed quality and visibility into your pharmaceutical operation.
Talk to QUANTIQ about the On-Premise, Hybrid and Cloud deployment options open to you and the experience we’ve amassed working with many Pharmaceutical organisations.