Why an Accurate ERP System is Necessary for Commercialization
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Life Sciences Review | Thursday, March 05, 2020
The life science companies have to face many challenges during commercialization due to which it is necessary to have an accurate ERP system.
FREMONT, CA: The life science organizations have to deal with various difficulties during the process of product development to commercialization. Every stage of the journey has its concerns, requirements, and tasks. One issue that the sector has to deal with continually is maintaining FDA compliance. There are also other difficulties like the commercialization process, expense management, and inventory control.
Supporting Product Commercialization
It is necessary to have an ERP system while commercializing a product to support every new part of the operations, consisting of production planning, manufacturing, or integration with a third-party manufacturer, sales, and quality management. Here are some of the significant features to consider while going commercial so that the correct ERP can support it.
Traceability
Traceability is a crucial requirement for FDA validation, and it is even significant to increase efficiency and optimize quality management. With the help of traceability, the companies can quickly get access and interpret to enhance the capability to react, recall, and take proper actions on the events related to quality issues at less price and impact on the supply chain.
The accurate ERP system can be the record system and offer traceability that the companies require without utilizing external tools and procedures.
Quality Management
It is necessary for commercialization that the quality teams have the accurate tools to ensure patient safety and FDA compliance like quality testing, releasing inventory for consumption, quarantine management, and expiration date management. The devices will allow conducting such functions as quickly as possible so that there is no unnecessary delay in the operational procedure. The ERP system with quality management and control is developed with modern tools designed for security, ease of use, and mobility. It will also help the companies to monitor the products with real-time tracking and information.
Security and Data Maintenance
Security is an essential function in any business, but the life science sector is known for maintaining a high standard under the FDA guidelines. The ERP system must have the devices necessary to ensure data integrity and control system access.
