One of the industries that has witnessed a lot of growth in terms of research and development is the Pharmaceutical Industry. But from time to time, this industry has faced innumerable challenges such as highly fragmented distribution network, lack of advanced infrastructure, high levels of operational cost and various safety regulations and strict polices during manufacturing as well as distribution.
This industry needs practical and affordable methods for dealing with these various market challenges. Moreover, it’s only through new solutions that you will be able to manage complexities, comply with regulations, reduce costs and increase productivity.
The question that immediately surfaces here is: How can you achieve this?
Enter SAP Solutions.
SAP AG boasts of over thirty years of experience offering business solutions in the pharmaceutical industry. The requirements of businesses in the pharmaceutical industry are all addressed in the SAP Business Suite.
Let’s take a look at these top SAP solutions in detail to understand its six major advantages for the pharmaceutical industry.
1. Staying Compliant and Progressing Ahead
One of the crucial success factors in leading pharmaceutical companies is Compliance.
Today, all of these pharmaceutical companies need to follow a varied set of regulations imposed by various agencies such as FDA, DEA and EPA. Hence, they are in search of better ways to efficiently account for and manage the increasing number of rules and regulations.
This is where SAP comes in.
Ranging from methods to pay, compliant manufacturing and equipment manufacturing to field sales and laboratory operation management, SAP offers a myriad of flexible options to help companies stay compliant and progress ahead.
2. Identifying and Fixing Problems
Pharmaceutical organizations tend to face a major challenge all the time- huge amounts of data.
What does this lead to?
It acts as an obstacle in identifying the problem areas. Moreover, this makes it extremely difficult for the organizations to ensure product safety and maintain product integrity.
With the help of SAP Solutions and the integrated approach provided by it, companies have access to all the information that they need, which in turn helps them to quickly recognize problems with respect to raw materials, supplies and in manufacturing, quality control and packaging.
3. Quick and Easy Execution of Business Strategies
A shift is increasingly being observed in majority of pharmaceutical companies; from the R-&-D- centered business model to a dual focus model that helps in the significant growth of sales.
This is an attempt to identify different sorts of opportunities in the market.
Now, this step requires a major understanding of the market and its various aspects: maintaining relationships, increasing mind share, identifying appropriate physicians and improving sales efficiency.
SAP with its CRM (Customer Relationship Management) technology helps companies perform market analysis, execute multichannel campaigns, work with physicians and acquire mind share.
4. Minimizing Delays
One important thing to note is when it comes to product launch and peak sales of the pharmaceutical companies, there is a huge time difference. And this difference needs to be minimized.
Why, you ask?
It is important as companies lose patent protection for flagship products and experience major declines in revenues. There’s a huge risk of negative cash flow and so it needs to be seen that companies execute their sales operations effectively and within time.
Now, SAP offers many amazing and powerful tools that help in minimizing the huge time gaps and thus the delays. The tools include contract management, improving campaign management and performance and quick identification and reconciling charge backs and rebate volumes.
5. Taking Advantage of Emerging Outsourcing Opportunities
When it comes to working on company’s cost savings, pharmaceutical companies tend to consider that their core processes are too complex to survive outsourcing. But it’s important to see that there is a significantly growing and capable base of IT support companies to support outsourcing activities both off-shore and at home. Companies just need to know how to take advantage of these opportunities.
The SAP NetWeaver helps companies to a huge extent in this process. It helps companies take advantage of various opportunities. It offers hosting services, such as implementation and application hosting that help companies in ramping up operations and ensuring a simple and smooth transition process. This as a result helps in successful outsourcing irrespective of location and time zone.
6. Easy tracking and tracing of Products
That one thing which immediately leads to creating a positive or negative reputation of the company is accidents and the factor of trustworthiness. When it comes to tracking products in today’s times, paper-based tracking processes definitely don’t succeed.
In fact what works best here is RFID Technology.
SAP NetWeaver’s component- SAP Auto-ID Infrastructure provides a ready-made RFID platform, one that can be quickly deployed and integrated with core supply chain and ERP processes.
This as a result helps in providing companies new useful capabilities to monitor products, track them and prevent any sort of accidents and hence maintain a positive public image.
Owing to these perfect solutions by SAP, companies in the pharmaceutical industry will become more and more integrated, leading to new levels of collaboration, productivity and efficiency.
In addition to this an important point to bear in mind is that if you belong to the pharmaceutical industry or you intend to be a part of it, then pharmacy technician is a great career option. Moreover, if this is what you really aspire to be, there are various reputed pharmacy technician schools in CT, U.S.A, where you can acquire necessary skills and be a successful pharmacy technician. Depending upon which field you choose: retail pharmacy, community, mail-order pharmacy business, nursing facility, military or hospitals, there’s a lot to learn. Additionally, you could put your resources and research energy into acquiring more and more knowledge about about SAP’s vertical functionality pertaining to the pharmaceutical industry, so as to enhance your skills as a pharmacy technician. Climbing the career ladder in the pharmaceutical industry through SAP can prove highly beneficial.