3 Ways Sage will change how pharmaceutical businesses operate
Australian manufacturers in the pharmaceutical and biotechnology industry are under pressure. Cost of production, increased commoditisation of drugs, pricing and regulatory reforms all drive the need for cost reduction—more efficient ways to bring goods to market.
According to a 2018 report on the industry by PwC for Medicines Australia, other growing concerns include challenges to intellectual property (IP) rights and meeting the expectations of more empowered consumers.
Changing health and lifestyle priorities, and greater access to information, has fuelled an increased interest among consumers in both the composition of products, and how they are made. Safety, ethics, sustainability, personalisation, immediacy, and value are on people’s minds, and it’s no different when it comes to drugs, biopharma, vitamins, and supplements.
This shift influences the kinds of safety and quality regulations that governments impose on process manufacturers. It also means you must be able to back-up claims about products with evidence, track and trace goods at every stage, and be able to adapt quickly to changes in the supply chain or customer demand.
Not having the right systems to both work smarter and meet these new accountability standards puts your business at significant risk.
Is your business in danger of reputational and financial damage?
Pharmaceutical manufacturers may be more focused on innovation and costs, but a business’ continued ability to operate hinges on excellent quality control and traceability.
Writing for The Conversation, former manufacturing manager turned researcher George Ball highlights that pharmaceutical drug recalls seem to be increasing, putting lives and businesses at severe risk.
He argues that intense competition can lead to firms cutting corners in quality control processes in an effort to remain profitable and points to several high-profile examples in the US.
Trying to deliver more value in a quicker time frame without the right business systems and processes in place is a recipe for disaster. Instead, pharmaceutical manufacturers can adopt better ways of working supported by technology.
Features of Sage Enterprise Management that will reduce your risk
Sage Enterprise Management is an enterprise-wide system that centralises data to improve workflows, reporting and executive decision-making across all areas of financial and operational management. Cross-functional collaboration and insights are more achievable, reducing silos of information and increasing confidence in the day-to-day tasks.
Sage’s ERP solution also gives pharmaceutical manufacturers complete oversight of ingredients, production, and compliance, within robust modules focused on manufacturing and inventory management.
Three important way that Sage Enterprise Management will help your pharmaceutical business improve quality and traceability include:
- Weighing scale: Accurate weighing of ingredients is an essential step in ensuring recipes are effective and the quality of the end product isn’t compromised, and yet it’s inherently difficult to do without error. In Sage Enterprise Management you can define the weighing requirements of all products and raw ingredients. You can connect and interact with your scale device to automatically update weights in the system—that reduces the risk of manual errors, and simplifies the process of updating stock and work-in-progress production management in real-time.
- Recipe management: A comprehensive ERP made for manufacturers reduces human error when it comes to working with recipes and formulas that your business depends on. Manage changes made to formulas, review potential impacts on production, and have a complete record of who made changes and control over which users have the authority to do so. In conjunction with Sage Enterprise Management’s powerful production management features, it becomes easier to schedule order and resources.
- Backward and forward traceability: It’s important you have extensive and precise control over quality control measures and the traceability of lots and batches, sub-lots, ingredients and allergens at every stage. Sage Enterprise Management enables you to manage quality assurance for every ingredient and finished product so you can be prepared in the case of recalls and have the right information at your fingertips to share with affected stakeholders.
There are no shortcuts to a more profitable, sustainable and adaptable pharmaceutical manufacturing business. There are opportunities to leverage technology to automate, streamline and achieve greater certainty and transparency across your business.
Want to improve the reliability and cohesion of your processes for a higher quality end product? Contact our expert team about Sage Enterprise Management.
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