Pharmaceutical manufacturing is one of the most essential and complex industries.
It requires strict adherence to government regulations by your primary company and its manufacturing partners. This type of outsourcing is common but poses some risks, particularly when communication breaks down, and standards are not met.
Investing in a contract manufacturing ERP solution is one of the best ways to promote efficiency and compliance among manufacturing partners. It allows your manufacturing company more oversight of third-party processes and protects your financial interests. An advanced ERP is vital to your company’s success.
Pharmaceutical Manufacturing Challenges
The pressure on the pharmaceutical industry was astronomical during the pandemic and led to more outsourcing to third-party manufacturers due to the vaccine demand. Meeting pharmaceutical demand continues to challenge manufacturers, particularly in light of supply chain disruptions caused by the pandemic and other global events. Current challenges for pharmaceutical, life science, and biotech contract manufacturing companies include:
- New therapies: Pharmaceutical manufacturers have to quickly adapt to cutting-edge technologies such as messenger RNA vaccines.
- Speed to market: There is pressure to quickly develop, manufacture and ship vital new pharmaceuticals while remaining compliant and protecting the public.
- Skilled labor shortage: Automation alone cannot solve this issue. Laborers skilled in biotech manufacturing are at a premium.
These strains on the industry demand advanced technological solutions for your company to be successful. A contract manufacturing ERP is one of these solutions.
Key Features of a Contract Manufacturing ERP
Some software companies produce superior ERPs, so you need to look for certain features. A contract manufacturing ERP for life sciences such as pharma should contain the following:
- Global business management capability: The right ERP will help you manage subsidiaries and third-party contracts.
- Manufacturing resource planning: Better resource planning leads to streamlined manufacturing and enhanced supply chain management.
- Financial and accounting features: Your contract manufacturing ERP should integrate with your sales and service workflows and provide real-time production tracking.
- Budgeting and forecasting: A solid ERP will also provide integrated budgeting and planning applications.
- Customer relations: The ERP should offer a 360-degree view of current customer contacts and easy-to-use communication channels for all involved parties.
Most of all, the contract manufacturing ERP should improve contact between your company and the third-party manufacturers to ensure that standards, quantity, and timetables are met. Do not settle for systems that do not offer these premium features.
Benefits of Contract Manufacturing ERP Software
Biotech contract manufacturing companies face intense pressure to deliver life-saving medications and therapies as quickly as possible while maintaining high standards and meeting compliance regulations. These pressures have led to more third-party contracts. The recent pandemic is an excellent example of the need for speed involving more contract manufacturers. These partnerships enabled millions of people to get vaccinated against COVID-19 in a short period, saving many lives.
Outsourcing manufacturing does result in faster production, but it raises compliance and safety issues. More testing takes longer but has generally produced safer medications. Mistakes in life sciences manufacturing can cost lives and lead to massive lawsuits and huge government fines. The industry is trying to strike the most effective balance possible.
You can reduce this risk by acquiring advanced software systems. A quality contract manufacturing ERP such as NetSuite for Biotech leads to better communication between production partners and a better compliance record. Your ERP can be customized to incorporate compliance standards and allow better coordination between your contract partners. Accuracy and output are improved, allowing safe pharmaceuticals to reach the consumer more quickly.
The pharmaceutical industry is too complicated and nuanced to survive without advanced software systems such as NetSuite for Biotech. Once you implement the system, you will reduce your legal exposure in a litigious world and raise the quality of global health.
How Green Business Systems (GBS) Can Help
At Green Business Solutions (GBS), our goal is to help you use your NetSuite product more effectively. Our experts have experience with many industries, including life sciences, helping them become more efficient and productive. We also ensure that your NetSuite solution adapts to your company’s growth, so you get the full benefit of your ERP system.
Green Business Systems offers a full range of NetSuite services. Our knowledgeable team provides:
- NetSuite ERP Implementation
- NetSuite Integration and Customization
- NetSuite Optimization
- On-Demand NetSuite Support
- Implementation Rescue
We ensure that your NetSuite ERP works for you. Our on-demand support guarantees you don’t spend hours or days waiting for the answers you need. Plus, our customization service means that your ERP will be tailored to your company and industry needs. We offer the GBS Difference: Unique services and personal attention you won’t find elsewhere.
Let Us Implement NetSuite for Biotech for Your Life Sciences Manufacturing Company
Global health demands reached a new high during the pandemic years, and the threat has not disappeared. Previously unknown viruses will emerge, and COVID-19 will continue to mutate, requiring adaptations to the current vaccines. Meeting these challenges requires creating new methods and processes.
Biotech contract manufacturing companies are essential to producing and shipping essential pharmaceutical products. To meet demand, these pharmaceutical manufacturers must outsource a significant amount of production. They face strict regulation and other industry complexities that require a contract manufacturing ERP.
The right ERP will coordinate processes with the contract manufacturers and allow you to communicate better with all stakeholders. You can enable the system to allow authorized users access to pertinent information necessary for production while keeping other company information secure. You can also manage your financials, produce reports, provide customer service, and generate payroll with the help of one advanced ERP.
Our staff is experts in all things concerning NetSuite ERPs and can customize one for your company. For more information, fill out our brief online form or call 312-470-2262.