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Key Applications of Data Science in the Biotechnology Industry
Key Applications of Data Science in the Biotechnology Industry 700 500 Xcelpros Team

At a Glance

  • Genomics is an intricate facet of biotechnology that requires storing and analyzing humongous amounts of data. Cutting-edge data science trends have brought a transformation in the way genomics is studied worldwide.
  • Biotechnology deals with the extraction, reaction and manipulation of molecules in living beings. These processes will expedite safely and systematically with the help of the advancements in data science.
  • Every day, there is a humongous amount of data generated by various private and government-funded biotech firms. Data science is crucial in establishing interconnectivity amongst these biotechnology entities to share the knowledge database.
  • Companies are faced with newer variants of diseases every few years and this requires gene sequencing of microorganisms at a much faster rate to help in drug and vaccine development. Newer technologies developed in the field of data science can be pivotal to help with the endeavor.

Industries have advanced with the knowledge and application of biotechnology. From facilitating clinical trials of drugs and vaccines to genetic alterations in crops for better yield, biotechnology has been crucial in transforming the way we live our lives. Now, how does biotechnology cross paths with data science? The answer to this question is multi-layered. The last decade has seen unprecedented advancements in the way data has been leveraged, stored, analyzed, shared and applied to derive statistics, build forecast models and solve the mysteries of science. Data science is emerging in biotechnology with the tools and techniques that help scientists systematize their findings and expedite their experiments for better and safer results. Data science is the crucial bridge between knowledge and information. The application of data science is rapidly moving from simply analyzing the existing information to deriving solutions for the future.

By 2021, 66% of analytics processes will no longer simply discover what happened and why; they will also prescribe what should be done.– Ventana Research Assertions

With data science becoming an integral part of how businesses operate, biotechnologists and related industries need to understand its emergence and crucial role. By understanding the applications of data-related tools and techniques, biotechnology can experience positive growth at a much faster rate. Let us look at some of the emerging pivotal data science applications in biotechnology.

1.Field of Advanced Medicinal Development: The field of modern medicine has gained momentum in terms of R&D with data science in biomedical research. Computerized medical records, big data to arrive at plausible diagnoses, automated medicinal kits, genetic coding, computerized molecular studies for drug and vaccine development, etc., are the technological boons of data science that have made it possible for companies to make unprecedented advancements in the field of medicine.

2.Developments in the Field of Agriculture:Scientists across the globe tout the systematic use of algorithms, computerized statistics and data analysis capabilities to advance the genetic studies of various crops. This has made it possible for them to experiment on the plants at a molecular level in the lab to shortlist the best yield. This saves time, effort and money while giving the best results with the combination of botanists, biotechnologists and data scientists. Apart from scientists, data science is also useful for farmers. Many mobile applications are being developed for the farmers to study best practices to grow crops, compare the prices and availability of seeds, fertilizers, and other farming essentials in their locality and get expert advice online. The data generated and leveraged in these apps can join together to create a library of references for the large farming community.

3.Mitigating the Damage to the Environment:Biotechnology is genuinely a way of giving back to nature by modifying existing systems and deriving new ones to minimize environmental damages. Now, one might ask what role data science can play in establishing ecological sustainability. Well, data is at the core of knowing the problem areas- factories with concerning amounts of emissions, agricultural sites that are in dire need of water conservation, landfills with immense amounts of non-degradable waste, etc. With the help of computerized tools, this data can be collected, stored and categorized to implement solutions. The solutions and best practices can also be shared via data science tools with other such areas, thus creating a chain of positive environmental practices.

Figure 1:Leveraging the Power of Data Science Applications in Biotechnology Industry

Leveraging the Power of Data Science Applications in Biotechnology Industry

The areas discussed above are prime examples of how data science applications are emerging in the biotechnology industry. Experts worldwide are working hard towards coming up with newer tools, techniques and solutions with which data can change the way biotechnology research is performed and results are derived. The coming decade will be vital in changing the way we apply data-driven analysis and solutions to bring about positive transformation in biotechnology and its related fields.

Key Takeaways

  • Data science has moved on from merely becoming an analytical field to becoming a supportive pillar for reasoning and research in the biotechnology industry.
  • Leveraging data with the latest tools and techniques is helping bio technicians in expediting research and development processes while mitigating manual errors.
  • Biotechnology applications in medicine, agriculture, environment and more such fields have transformed with the help of advancements in data science.
  • While data science is emerging in biotechnology, there are still many milestones to be achieved to unleash its unlimited potential.

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Ways to Enhance Customer Experience in the Pharmaceutical Industry
Ways to Enhance Customer Experience in the Pharmaceutical Industry 700 500 Xcelpros Team

At a Glance

  • The face of the pharmaceutical industry is rapidly changing from R&D to directly interacting with their customers.
  • With changing demand and expectations, technology will be more important than ever to establishing a fortified system that brings together businesses and their customers.
  • The conventional chain of interaction between the pharmaceutical sector and its customers involving healthcare professionals is set to undergo a change to help the pharmaceutical industry better understand and manage customer expectations.

For years the pharmaceutical sector has operated in silos, in terms of understanding and managing their customer base. While there has been considerable change in the technology used for research and development, when it comes to customer experience and engagement in the pharmaceutical industry, there is still a long way to go. There is a growing need for the merging of customer management, meeting demands for particular drugs etc. using complete solutions like Microsoft’s Dynamics 365 line of products.

It’s become obvious that technology will play a critical role at the forefront of customer engagement, sales and marketing departments. In this article, we explore how adopting cutting-edge tools and software pertaining to customer relationship management (CRM) can benefit organizations.

1.Going OnlineDue to the outbreak of coronavirus, there was a sudden and steep decline in financial outcome across multiple industries in the first quarter of 2020. The market slowdown led to slower investments, reduced credit timescales by banks (leading to delay in funding), lack of sufficient security packages, covenant limits, etc. The financial impact has caused significant distress for the chemical industry, and top-level executives had to rethink their business procedures to ride through these distressing times.

2.Leverage Technology for Stakeholder ManagementIn a connected world, it is essential for pharmaceutical companies to understand and cater to the needs of different stakeholders in order to ramp up sales and reach their target customers more effectively, including generic drug manufacturers, biotech firms, physicians, chemists and more. Technology plays a crucial role in this scenario by providing tools like the aforementioned Microsoft Dynamics 365 products that enable sales teams to connect with different users through a centralized system.

Figure 1:Customer Engagement in the Pharma Sector Through Technology

Customer Engagement in the Pharma Sector Through Technology

3.Redefine Customer Engagement Strategy with a Sales-driven ApproachFor years, the pharmaceutical sector has by and large been driven through its approach towards research. While the competition for customer aquisition in the pharmaceutical industry, retention and expansion has always existed, not all pharma companies are known for aggressive sales-driven strategies. With the gap between the customer and pharma sector decreasing over time, the sales executives need to overhaul their strategies to directly engage with their customers and turn things around. Companies will be able to mitigate the costs involved in a conventional hierarchical setup for many of their products, and customers will have direct and easy access to drugs or other healthcare products that don’t require a physician’s supervision. An intelligent digital sales-driven approach can also boost revenue of pharmaceutical companies and keep them in sync with demands and expectations of their customer-base.

Key Takeaways

All said and done companies need to make better use of technology available to their sales and marketing departments in order to create an enhanced pharmaceutical customer experience in the pharmaceutical industry. Today, pharma companies that show agility and precision in adapting newer technologies, tools and software will lead the way in pharma customer engagement and retention. Below are some key takeaways –

  • Pharmaceutical companies need to embrace technology for a better understanding of customer expectations.
  • There is immense competition across the pharmaceutical market for customer acquisition and retention, that is achievable only by adopting a modern, sales-driven digital technology.
  • Use of transformative tools and processes are some of the best ways to manage all customers effectively.

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References: The Importance Of A Great Customer Experience For Pharmaceutical Companies

challenges-in-the-chemical-industry-due-to-covid-19-and-the-future-ahead
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6 Challenges in the chemical industry due to COVID-19 and the future ahead
6 Challenges in the chemical industry due to COVID-19 and the future ahead 700 500 Xcelpros Team

At a Glance

  • As the world braces itself from COVID-19 recovery, decision-makers at significant chemical companies are looking for ways to realign their operational and manufacturing strategies to be able to sustain and grow.
  • Liquidity and capital resources impact the business, causing financial pain areas for the chemical industry.
  • The industry has also faced challenges due to disrupted global supply chains, labor shortage, dwindling demands for one industry and growing demands for others, and many more issues.
  • With the strategic overhaul, reinvention of smart factories, investment in automation, and other robust enterprise software, the chemical industry can turn the tide.

Like almost every other industry, the chemical industry encountered unplanned hassles in 2020 due to the Coronavirus global pandemic. Practically every department in chemical companies has experienced the ripple effects of a market slowdown. Things are still uncertain in terms of the supply chain’s stability, workforce capacity, changes in global trade regulations, etc.

Approximately 41% in the chemical industry are concerned about the effects of Covid-19 on workforce and reduction in production.
Approximately 23% are looking at disrupted supplies are a red flag.– Per a survey by PricewaterhouseCoopers

While global supply chain disruption has impacted businesses, the chemical industry can take advantage of certain factors like:

  • Increased demand for raw material required for hygiene products and sanitizers across the globe.
  • The drop in oil prices offering a chance to acquire oil-based raw material at a lower cost.
  • Dependence of many major and minor sectors on the raw material provided by the chemical industry.

There are also various strategic and operational changes that the decision-makers at chemical companies will need to help their companies sail through this crisis with minimal damage. The chemical industry also needs to prepare itself for the post-COVID era. However, before we get into plausible solutions, it is imperative to understand the challenges in chemical industry. Let us look at six major challenges that the chemical industry is dealing with due to the coronavirus crisis.

1.Liquidity and Investor IssuesThere was a sudden and steep decline in financial outcome in the first quarter of 2020 due to COVID-19. The market slowdown led to investment shortage, lower credit, etc. The financial impact has caused significant distress for the chemical industry, and top-level executives rethink their finance allocation policies to ride through these distressing times.

2.Shortage of Workforce and Reduced Production RateMany regions are still not back to normal and need to follow social distancing norms to avoid the coronavirus spread. The additional rules in place limit the ability of chemical production facilities to work at full capacity. Even the workforce that does not operate on the shop floor has to either work from home or stay absent. Current issues in the chemical industry lead to reduced productivity and lesser output from the production plants.

3.The Issue of Disrupted Supply ChainsWith the slowdown of all travel types (especially international air travel), there have been significant supply chain challenges in the chemical industry across the globe. The chemical industry is heavily dependent on different stakeholders working in harmony for seamless functioning. Businesses have taken a massive hit, and there are issues related to delays in obtaining raw material, delays in shipments, blocked consignments, and more.

Figure 1:Benefits of a Connected Ecosystem for Inventory Management

Benefits of a Connected Ecosystem for Inventory Management

4.Discrepancies in the Demand of Raw MaterialChemical companies supply different raw materials to various industries, and they make arrangements for these stocks based on their orders, estimates, and market scenario. However, the lockdowns imposed due to the coronavirus pandemic caused many industries like automobile and consumer goods to cease their production. In contrast, other industries like hygiene goods, pharmaceuticals, and medical equipment manufacturing sectors had to ramp up their production capacity. An imbalance in the market caused discrepancies in the demand for raw materials, and the chemical companies have to realign their inventories to suit the changing needs. The market is recovering however still carries the effects of the pandemic.

5.Facilitating Social Distancing at SitesWorkers who are back to facilities require retooling to expedite work and play catch-up on customer orders that were previously halted. Many chemical companies have made drastic changes to their plants to provide a safe atmosphere for their workforce. This atmosphere involves regular sanitization of the premises, facilitation of social distancing, temperature checks of the staff, interatcion and collaboration through digital tools, etc.

6.Changes in Strategy for the Post-pandemic EraThe strategists and top executives at chemical companies have a robust and demanding job at their hands to realign their game plan for the post-pandemic era. Replanning involves gauging the market’s pulse at a granular level, understanding the varying needs for different chemical compounds, and providing investors and business partners with the plan’s visibility. Higher visibility drives the requirement to onboard agile analytical tools in conjunction with their manufacturing execution and warehouse management systems.

While there are many challenges in the chemical industry, they can get these issues addressed with comprehensive, all-inclusive technology. Companies need to evaluate a business solution that provides end-to-end Supply Chain Management, Financial Management functions plus embedded analytics to realign their processes and gain in depth visibility of the operations.

2020 has seen a massive shift in the overall functioning of chemical companies, which has enabled the need for proper planning, extensive use of robust integrated tools, and timely actions. By retooling to make themselves more agile, chemical companies can ride this storm out and progress forward. Ability to adapt to rapid changes in business is now one of the major OKRs within a Chemical company. Enterprises that wish to differentiate themselves in the Chemical industry need to transform from traditional to becoming new-age companies.

Key Takeaways

  • The chemical industry needs to be agile and flexible to gauge the changing needs and serve their best during these trying times.
  • The right digital tools help chemical companies to not just strategize but also effectively execute to grow.

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Modern Methods to Best Manage Pharmaceutical Quality Control
Modern Methods to Best Manage Pharmaceutical Quality Control 700 500 Xcelpros Team

At a Glance

  • Quality control processes in the pharmaceutical industry are known for their rigorous and meticulous nature. It is of utmost importance to maintain the highest safety standards during drug manufacturing and managing pharmaceutical products.
  • With Industry 4.0, automation, Big Data, Machine Learning, Artificial Intelligence and systematic operations management, different Enterprise Resource Management (ERP) tools have become integral in the pharmaceutical quality control processes.
  • Advanced technology is undoubtedly becoming the backbone of futuristic quality assurance in the pharma and biotech industry.

The pharmaceutical industry stands at a pivotal conjunction point of technology and subject matter expertise. With times changing fast, the pharma sector’s processes and operations evolve to enhance accuracy and reduce efforts and time consumption. However, quality control is a highly complex field where the slightest of errors can lead to severe health consequences. At pharmaceutical companies, scientists and top executives look at the latest technologies like complete digitization of operations, automation at manufacturing units, and Big Data and Machine Learning to maintain records.

The (pharmaceutical) industry increasingly wants more out of their data, and the focus in manufacturing data analysis is about quality, not quantity.– Joe Haugh in an article for the European Pharmaceutical Review

The ongoing Covid-19 pandemic and the ensuing search for a vaccine has shown the world that with the help of technology, it is possible to witness a never-seen-before feat of producing a potential vaccine candidate in mere months for a novel virus. Even the numerous clinical trials and related reporting are performed unprecedentedly with the latest tools. Manufacturing and supply of potential drugs to even the remotest parts of various countries are plausible with robust ERP models and streamlined supply chains.

Figure: 1Pain Points: Quality Control in the Pharmaceutical Industry

Pain Points: Quality Control in the Pharmaceutical Industry

Let us take a deep dive into understanding the different ways technology helps reshape methods of quality control in the pharma sector.

01.The Automation Effect: Mitigating Errors, Reducing Process Time and Saving Efforts

Businesses have discussed automation in pharmaceutical manufacturing for a long time, but this technological advancement is a boon in quality control. Pharmaceutical companies can leverage automation within quality assessment by reducing manual documentation efforts to cut margin errors and automatically carry out a quality check for batches or samples.

02.A Robust ERP System: The Way Ahead for Comprehensive Quality Control Process Optimization

Quality control happens at various stages throughout a drug’s lifecycle. This involves different stakeholders spread across multiple departments and most probably other locations. Conventional methods or legacy systems involved manual record maintenance, report generation and communication, leaving scope for errors. The traditional approach also was highly time-consuming. Companies can effectively address the issues with a robust ERP system. A system that provides a centralized database visible to all stakeholders in real-time helps drive better business decisions. The system should leave no scope for communication gaps and help align business objectives with workforce activities. Through report generation and data analysis within the ERP system, companies can make adjustments to operations and subsequently improve productivity.

03.Internet of Things (IoT): Creating a Centralized Database for Enhanced Visibility in QC Labs

Most traditional quality control departments in pharmaceutical companies involve manual work where Quality Control and Quality Assurance work in tandem. However, the cumbersome nature of the job at hand- manual documentation, record maintenance for individual drug components, random testing records, call-back records, etc. creates caveats and increases error margin. IoT helps create a blueprint for various processes through device integration to feed in respective data and insights. This helps in maintaining transparency across all levels of quality control and pharmaceutical quality assurance processes.

04.Digitized Change Control Management: Fast-tracking Quality Assessments in Case of Any Changes

Drug manufacturing is subject to changes throughout its lifecycle. In a conventional QC lab, these changes are recorded and communicated manually to various stakeholders, who then carry out respective tests and derive insights. These insights also drive changes required on a work in process batch. With the help of a digitized ERP system, changes can be communicated in a central system and all the stakeholders can evaluate real-time quality data. This expedites the quality assessment process and helps record maintenance quickly refer to relevant documents during quality inspections.

05.Automated Data Analytics: Applying Machine Learning to Derive Insights

Quality control techniques in pharmaceuticals involve working with precise data. With machine learning and automated analytics, pharma companies can leverage the same amount of data to generate maximum insights.

What does Quality Control in Pharmaceutical Look like in Microsoft Dynamics 365 ERP?

The evolution of Dynamics 365 to a customized, purpose-based system makes it a comprehensive solution for a quality control pharmaceutical lab. It creates a central database, alerts all stakeholders of defects, helps in record maintenance and instant report generation. With Microsoft Dynamics 365 Finance and Operations, life sciences companies can manage in-coming/ in-process inspections for batch and continuous manufacturing. Track and trace functions enable pharma companies a base for better inventory management and can be especially helpful during drug call-backs, in case such a situation arises. On top of the Integrated quality management that includes SOP, CAPA, Deviation functions will help Pharmaceutical companies manage Quality compliance.

Key Takeaways

  • The pharmaceutical industry is cautiously yet steadily adapting to technological advancements. With advanced quality control, pharma companies can make great strides in assurance, uniformity and transparency.
  • Advanced technological applications are must-haves to address the pain points in pharmaceutical quality control.
  • The fast-paced, demanding world of drug manufacturing requires a fast-track yet highly stringent quality control mechanism, which is made possible through cutting-edge technologies and tools.

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Brochure XcelPros – Cloud Solutions Provider
Brochure XcelPros – Cloud Solutions Provider 600 348 Xcelpros Team
inventory management strategies
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Top 4 Efficient Inventory Management Strategies
Top 4 Efficient Inventory Management Strategies 700 500 Xcelpros Team

At a Glance

  • Challenges of an inventory can be both daunting and persistently confusing for shippers/ suppliers; however, a strategic re-evaluation can do wonders to your inventory management.
  • Accuracy, agility, and quality seem to be the main driving factors in today’s inventory management scenario.
  • Companies need to make the necessary changes to their approach to inventory management strategies today to have a seamless supply chain and, eventually, a satisfied customer base.

As technologies and the latest strategic trends bring on a blanket change across various industries and their related subsets of functions, organizations need to adapt to these trends. Such adaptations can at first sound overwhelming, but proper planning and execution can help you in the long run. Inventory management has come a long way from being just a function related to buying, stocking, and selling. In today’s digital era, managing an inventory entails predicting stock-outs and preventing them, enhancing workflow efficiency, providing real-time information to various stakeholders, and supporting large scale productions. The unprecedented growth of the e-commerce sector has given rise to customer expectations that can be daunting to the sellers and suppliers. Today’s supply chain culture is all about being the fastest and the most accurate. Thus, both B2B and B2C markets continually look for ways to efficiently manage their inventories’ challenges.

48%

of supply chain and transportation executives say they are experiencing the need to reevaluate warehouse locations due to shifting trade patterns resulting from changes in the U.S. economy.

Source: A Report by Forbes Insight

Whether you are a manufacturer, supplier, or retailer, the road ahead to managing your inventory effectively is full of complexities as well as opportunities. Let us look at various good inventory management practices that will help you unravel these problems while tapping many efficient inventory management options.

01.Be Efficient When You Go Omnichannel

These days, the customers/consumers are empowered by various online applications, e-stores, and even physical shopping options to complete their order. As a retailer who wants to tap into these different distribution options, one needs to dive into omnichannel retailing. But this requires accurate and highly efficient management of stocks and their distribution across various channels. A complex omnichannel inventory requires a central data management system, effective track and trace mechanism, and sustainable storage options to operate seamlessly. An omnichannel store that operates both physically and online needs to purchase data and patterns for predictive analysis to preempt customer demands and stock their inventories accordingly.

Figure 1:An Omnichannel Retailer’s Inventory

An Omnichannel Retailers Inventory

02.Create an Efficient Connected Ecosystem

Long gone are the days when inventories were simply warehouses located close to the supplier base and managed as a separate function. With advanced, cutting-edge technologies, everything is connected today. Thus, to overcome the inventory management problems, you need to create an efficiently connected ecosystem where different functions work in tandem while sharing data, exchanging real-time developments, and being governed in an optimized way.

To help you manage your inventory’s problems with ease, speed, and accuracy:

  • Moving your data from legacy platforms to Cloud.
  • Implement process automation to simplify laborious manual tasks.
  • Use Artificial Intelligence and Machine Learning to preempt stock-outs.
  • Apply Advanced Analytics for accurate inventory reporting.

Figure 2:Benefits of a Connected Ecosystem for Inventory Management

Benefits of a Connected Ecosystem for Inventory Management

03.Revisit Your Warehouse Location design

In the past, inventory locations were not always well-managed and streamlined based on supply, consumption, and demand. With cumbersome planning and different modes of transportation, warehouses would ship goods to the desired locations. However, in today’s times, inventories cater to multiple channels and changing consumers’ demand patterns. This has made companies rethink their logistics strategy. Companies are setting up distribution centers closer to the customer-base to help streamline order fulfillment. Also, these distribution centers, when integrated through a common and efficient warehouse management software, can share data and prevent stock-outs.

04.Balancing the Influx of Inventory

There has always been discord between stocking up on inventory and the actual space available in shippers/suppliers’ warehouses to store the inventory. Sometimes, shippers miscalculate the future demand, while other times, they fear the increase in the price of goods. Whatever may be the scenario, this influx of inventory and the lack of actual physical space can lead to a menace for distribution centers. This can also lead to damage of goods, loss of perishable items, and a mismanaged inventory. To avoid this kind of influx, suppliers can get supply chain experts on board to use technology to their advantage. Tools and applications like MRP with AI and Advanced Analytics can accurately forecast customer demands. A good and robust software system to track the inventory items will prevent excessive purchases and stock-ups.

Inventory problems have always been the peril of supply chain management. You can be better prepared using the latest technologies with features like track and trace through LPN, a mobile supply chain, use of barcode, labeling, etc. By rethinking and replanning your supply chain process, you can proactively streamline inventory. A smooth supply chain needs to have a well-managed inventory, and taking the right steps in this direction will help you build a higher business value.

Key Takeaways

  • No two companies can have similar inventory requirements and structures; so, you need to assess your needs to optimize and manage inventory challenges.
  • A complex inventory requires stringent workforce management, change management, skill force updating, latest technologies, and application of intelligent tools to be managed seamlessly.
  • Contingency plans need to be in place for disruptions in inventory management, giving your company the ability to plan for unexpected situations.

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agile transformation strategy
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The What and How of Agile Transformation Strategy
The What and How of Agile Transformation Strategy 700 500 Xcelpros Team

At a Glance

  • The world is moving at a fast pace in terms of technological advancements, and organizations across industries are keen on keeping up with these changing times.
  • Companies are moving towards establishing integrated processes instead of working in silos by connecting the end-to-end operations.
  • Reporting real-time insights, shorter turn-around times, virtual connections, establishing multi-polar communication across locations and a flexible work environment are essential for agile transformation in an organization.

What is Agile Transformation?

Thought leaders and key decision-makers in an organization are always pursuing opportunities to enable a more efficient, systematic, and faster work environment. A strategic realignment between processes, tools, and people is required to start planning any Organizational transformation. Agile is one such phenomenon that makes this realignment possible and expedites the productivity in an enterprise. The use of advanced technology requires proper implementation and resource allocation. When combined with the up-skilling of the employees, it can generate maximum benefits from an agile transformation strategy.

Agility is not just a different viewpoint in today’s world; it is the way to move forward. Organizations need to understand and implement agile technologies to remain relevant and prosper in this world of going fast and staying connected.

According to a study published by KPMG, 68% of organizations (participants of the survey) said that faster product delivery was one of their key drivers for agility. In comparison, 45% indicated that increased flexibility was the main driver for shifting towards agility.

The study indicates that Organizational Agility is growing and is the next organic step forward for enterprises to integrate fortified IT infrastructure with results-driven, faster business models.

The Key Benefits of Agile Transformation Strategy

By now, the world knows that Agile equals faster, better, and smarter ecosystems. However, to implement Agility into your business model, you must first understand the key driving factors compelling enough to take Agile’s right steps. Let us have a look at some of these significant benefits:

  • Better collaboration amongst people inside the organization leading to reduced communication gaps, avoidance of inter-department bottlenecks, and a comprehensive approach towards newer ideas and innovations.
  • The real-time process driving and problem-solving through Agile technologies offers organizations the benefit of saving cost, efforts while reducing waste.
  • Disruption brought by newer technologies, changing government policies, or unprecedented economic factors are inevitable, and Agile gives organizations the flexibility to change priorities, customize operations, alter process flows, and make organizational changes. Agile companies have a chance to stay on top of things even in the face of any plausible disruption.
  • Faster turnaround time is possible, especially in the software domain. Companies can deliver work-in-progress or beta versions of their product and get feedback from their customer base to improve.

How to Leverage Agile Technology for Your Enterprise: The Agile Transformation Blueprint

Companies need to look at agile transformation as an organic extension toward a better, faster, and more technologically empowered ecosystem. Any change at an organizational level requires companies to make strategic decisions from the top and implement systematic alterations at a granular level. Technology and business experts help form an agile transformation blueprint that should serve as a centralized guide for all functions, domains, teams, and processes across the company.

Figure 1:Agile Transformation: Facets of Implementation

Agile Transformation: Facets of Implementation

Agile transformation requires fortifying ERP (enterprise resource planning) systems in any organization. You can use Microsoft Dynamics Sure Step Agile and Microsoft Dynamics 365 ERP to implement these changes. These systems allow enterprises to explore changes with flexibility and implement them at a faster pace. With automated insights generation, design, and deployment features, your organization can benefit significantly with these tools in the journey toward an Agile Organization.

Challenges of Agile Technology and Ways to Overcome Them

Any organizational change faces different challenges – in the system as well as from the people. The decision to move towards a more agile, flexible ecosystem too has its set of challenges:

  • Forming an agile transformation strategy has many hurdles- ranging for technological maturity of the organization, financial burdens, readiness of the management body, and the effort required in bringing about this change. It is this essential to get business strategy and technology consultants on board to help your organization go agile smoothly.
  • A cultural shift is a big part of agile transformation. Thus, it is essential to gauge the cultural readiness towards this change. Otherwise, organizations can find it very difficult to implement and leverage the maximum benefit of going agile. Taking out time to inform and educate people in your company about the changes and their benefits is a must when you take on the agility journey.

Agile transformation is the need and the calling of the hour. It is essential to prioritize the change and recognize the technological facets or upgrades that your IT infrastructure needs. By making the right strategic calls and planning your growth’s core, you can chalk your enterprise’s agility transformation roadmap.

Key Takeaways:

  • The agile transformation process is a continuous one that needs planning specific to an organization’s technological adeptness, cultural readiness, and growth potential.
  • It is essential to visualize the end-user and the end product to implement any change in this journey of transformation successfully.

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Pharmaceutical operations management
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Digital Evolution of Pharmaceutical Operations Management
Digital Evolution of Pharmaceutical Operations Management 700 500 Xcelpros Team

At a Glance

  • The healthcare and pharmaceutical sector is changing rapidly with the integration of latest technologies.
  • Digitization is on the agenda of major (and even most of the small-scale) pharma companies to enhance end-to-end operations management.
  • Pharma companies face challenges pertaining to manufacturing, quality control, serialization, supply chain management, process automation and more. Businesses can address these challenges with the help of cutting-edge tools and technologies.

The year 2020 has been particularly demanding for the healthcare and pharmaceutical industry. The increased need for newer or existing therapeutics and demand for a vaccine to curb the ongoing Covid-19 pandemic has put pharmaceutical manufacturers at the frontline. The challenges and pain areas that the pharma sector was dealing with became all the more prominent in 2020.

Pharmaceutical operations management has seen many changes in the past decade and these changes have accelerated because of rapid digitization. Top executives and decision-makers are looking for transformation technologies that can streamline operations, fortify quality control and optimize supply chain management. The manufacturers are looking at ways to transition from batch to continuous manufacturing. To say that the pharmaceutical and biotechnology sector is navigating through times of transformation would not be an exaggeration.

According to Mckinsey and Company, more than 65 percent reduction in deviations and over 90 percent faster closure times have been recorded in first real-life use cases of pharma manufacturing labs (that adapted emerging technologies such as automation and advanced analytics amongst others).

This period of transformation and disruptions is particularly testing for operations management in the pharmaceutical manufacturing sector. Here is a look at some of the challenges in pharmaceutical industry in this area:

1.The Shortcomings of Batch Manufacturing:This rather conventional method of manufacturing comes with its set of problems such as increased efforts and costs. Production in batches also entails batch-wise quality control increasing employees’ downtime. Batch manufacturing is also cumbersome to manage as it requires multiple storage facilities, multiple process reports, various checkpoints and overall increased chances for errors. Pharmaceutical Operations require agility and customized production and the batch manufacturing process falls short by being a rather ‘set’ process.

2.Quality Control and Quality Assurance Challenges:Quality is very obviously a non-negotiable aspect in the pharma industry. In Pharmaceutical operational management, regular quality checks and observing all deviations are a must. However, maintaining quality comes with its set of challenges. Many manufacturers often struggle with clearing quality control checks for raw materials as well as manufactured batches. There is a need to test every batch for generic and customer-specific potency requirements thoroughly, ensure proper storage conditions at every facility, report and record observations, perform in-process quality testing, etc.

Figure 1:Major Challenge Areas: Pharma End-to-end Operations Management

Major Challenge Areas: Pharma End-to-end Operations Management

3.Inventory Management Issues:If the current pandemic has disrupted a branch of pharmaceuticals completely, it would be supply chain and inventory management. Unpredictable demand patterns, over or under stocking, false forecasting have been some major challenges of pharmaceutical manufacturers and vendors. Major and small-scale pharmaceutical companies face issues with quantification and replenishment decisions.

4.Challenges with Digital Transformation in the Pharmaceutical Industry:Pharmaceutical, life sciences and biotech companies are going the digital way to expedite processes, integrate automation and streamline their operations. This journey of digitization in the pharmaceutical industry can be a daunting one for companies as they struggle with moving to newer systems. Top executives need to factor in the cost of digital transformation, expenditure to upgrade their IT infrastructure and budget to upskill their workforce.

To overcome these challenges, pharmaceutical companies need to rethink their operational management strategies. With the help of advanced systems such as the Microsoft Dynamics 365 Finance and Operations, biopharmaceutical manufacturers can make strides in their digitization journey while systematically managing their end-to-end operations. The strength is in the Microsoft cloud-based ecosystem that integrates the enterprise ERP with process automation, analytics, AI, etc.

Figure 2:All Microsoft apps under one umbrella

All Microsoft apps under one umbrella

Figure 3:Microsoft Dynamics 365 Finance and Operations quick glimpse

Microsoft Dynamics 365 Finance and Operations quick glimpse

Here are some of the prominent ways that Dynamics 365 is helping pharmaceutical companies build efficiency in operations management:

  • Automation of processes leading to reduced manual efforts, better time management, decreased operational costs and an overall reduction in time-to-market.
  • In-system generation of reports, invoices, and labels for quality checks, drug batches and related processes.
  • Efficient quality control and assurance with the help of customized processes.
  • Efficient monitoring of inventories to avoid wastage or stock-outs.
  • Real-time tracking of supply chain and centralized connectivity between various stockholder, creating a harmonized system that can run smoothly.
  • Effective raw material planning and in-system purchase order generation with timely reminders and customization options.

These and many such features make a high-end ERP system the must-have addition to pharmaceutical companies’ operational management strategy. Pharma companies need to chalk down their unique challenges and requirements and then invest in a comprehensive ERP tool to fulfill those needs.

In a complex and dynamic digital canvas, pharmaceutical companies are navigating their way towards efficient end-to-end operations management with the latest tools and technologies.

Key Takeaways

  • The challenges in end-to-end operations management are not new to the pharma sector, however, the recent Covid-19 pandemic has made these matters even more pressing.
  • Integration of tools and technologies that can optimize and aid in enhancing process efficiencies are must-haves for the pharma manufacturers.
  • A comprehensive and systematic ERP tool can prove to be the game-changer in pharma and life sciences operations management.

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Managing Operations in The Chemical Industry by Streamlining Processes
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Managing Operations in the chemical industry by Streamlining Processes
Managing Operations in the chemical industry by Streamlining Processes 700 500 Xcelpros Team

At a Glance

  • Industry 4.0 has brought transformational changes in the chemical industry’s operations and the chemical companies understand the power of going digital to streamline their operation.
  • As with any new process change, operational management changes include upgrading skills, fortifying the IT infrastructure and resource allocation.
  • Today, chemical companies are facing specific challenges in streamlining their operations to enhance productivity. Decision-makers must go to the root of these problems to address them strategically.
  • Industry experts believe that strengthening the IT infrastructure is the first and most crucial step towards overcoming operational management challenges in the chemical industry.

The chemical industry is witnessing challenges related to transformation in business functions and streamlining operations. After all, in a hyper-connected, fast-paced world, trimming unnecessary processes and optimizing the resources must enhance operational output. A chemical company functions with numerous stakeholders to drive operations who require visibility and transparency. Chemical companies need to migrate from legacy platforms to newer, highly advanced software tools to boost productivity in a plant. The change calls for strategic reshuffling, process reengineering, and an operational blueprint for running business in a cost-effective manner. Business transformation brings specific pressing issues that chemical companies need to address while maintaining a steady state in operations.

There is a potential for a three- to five-percentage-point improvement in return on sales from employing digital in production operations. Source: Mckinsey & Company

1.Legacy Platforms: Advancements in operations and trimming the processes require the adoption of newer technologies such as automation, data analytics, and machine learning. These technological overhauls require moving from legacy platforms to robust, high-tech tools and software. Chemical companies often find themselves in a struggle to make this move successfully, without disrupting their ongoing operations. There are also cost-related concerns that the top executives need to take into consideration.

2.Shortage of Skilled Personnel: Chemical companies operate with subject matter experts at both shop floor and top floor. These people are the ones who are well-versed in their field of sciences and are accustomed to following a particular operational blueprint. However, to streamline operations, there is a need for technologically adept personnel who can take up the responsibility of both chemical process management through newer tools and the nitty-gritty of chemical manufacturing processes (and related tasks). The chemical industry is currently facing a crunch of skilled personnel, affecting the digitization process for effective streamlining.

Figure 1:Why Chemical Companies Need to Opt for Streamlining of Operations

Why Chemical Companies Need to Opt for Streamlining of Operations

3.Inventory Management: Chemical companies often rely on spreadsheets and software built in-house to manage their inventories. Inventory inefficiencies are due to manual intervention, working in silos and not keeping a real-time track of inventory. However, to combat inventory issues, moving the chemical inventory management process to an automated platform often causes chaos and mishandling due to poor inventory data from legacy systems. The post-transformation hurdles make chemical companies wary and thus create a temporary glitch in the simplification of operations.

4.End-to-end Process Changes: The production and after-market cycle for any chemical product or the raw material is both intricate and one with many side-branches. To potently streamline the entire operational cycle, the chemical companies will need to change all their processes. The business transformation would include resource management, commodity acquisition, billing cycles, pricing strategies, report generation, and many essential activities. These changes can be daunting, time-consuming and expensive, making it a massive challenge for chemical companies in their path towards streamlined operations.

How Can Chemical Companies Effectively Address the Challenges in Streamlining Operations?

If you are the decision-maker in a chemical company who is looking for cost-effective solutions for operational streamlining, you would most probably look for:

Figure 2: Primary Intents of Operational Streamlining

Primary Intents of Operational Streamlining

Chemical Companies can achieve these objectives with a single-point tool such as the Microsoft Dynamics 365 ERP and SCM (Enterprise Resource Planning and Supply Chain Management). You can effectively incorporate process automation, process realignment, optimized resource allocation, analytical report generation, billing cycle management, procurement documentation, inventory governance and supply chain optimization all under one roof.

Microsoft Applications Platform, and surrounding ecosystem, comprises a suite of business applications to support all types of businesses across a range of industries and lifecycles. Today, we’re specifically talking about Finance and Operations. Still, it’s essential to know that this is just one component in the ecosystem that is all designed and built to work together.

Figure 3:Microsoft Business Application Ecosystem

Microsoft Business Application Ecosystem

The Microsoft ecosystem helps chemical companies be agile to stay ahead in the game, manage operations to maximize production, minimize wastage of efforts, investments and time. Chemical companies can quickly up-skill their current employee base to get them acquainted with advanced and easy to learn tools to streamline operations.

Businesses can achieve productivity through strategic planning from top executives and effective implementation of a fortified IT infrastructure. The Microsoft ecosystem makes the implementation simpler due to native integrations and interoperability across these tools.

Key Takeaways

  • To address the chemical industry challenges in managing and streamlining the operations in chemical companies, the top executives will need to look at the advancements of the digital world and align their processes with the current headways.
  • Timely intervention from a strategy and implementation point of view is essential to overcome the issues about chemical companies’ operations.
  • Chemical companies can significantly benefit from comprehensive ERP and SCM tools that can facilitate efficacious streamlining of operations from the shop floor to the top floor and even in inventories and the after-market.

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New technology in pharmaceutical industry
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Maximize Profit with New Technology in the Pharmaceutical Industry
Maximize Profit with New Technology in the Pharmaceutical Industry 700 500 Xcelpros Team

At a Glance

  • Pharma industry is moving from conventional methods of research, manufacturing and distribution towards more technologically adept ways for better output.
  • The globalized nature of the pharma supply chain calls for technological transformation at macro and micro levels of every player in the industry.
  • The need for newer technologies, the cost of their adaption and the overall ROI are factors that pharmaceutical companies should consider to bring about a technology-driven reformation of their processes.

For years now, the pharmaceutical sector has been slow to adopt technologies, especially when it comes to their business models. While the past decade has seen positive changes in the way technological advancements have made their presence felt in this industry, there is still a lot to be desired. Technology can be leveraged by pharmaceutical companies (start-ups and the giants) to transform their operations, the pace of research, and manufacturing processes. Even the pharmaceutical supply chain is on the verge of going through a digital overhaul, changing how medicine/ raw material distribution will be handled locally and globally.

Pharmaceutical Facets Being Transformed by Cutting-Edge Technologies

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Application of Newer Technologies

01

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Expedited Process, Optimized Operation, Reduced Manual Labour and Error Mitigation

02

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Better Understanding of the Market and End-User Dynamics

03

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Formation of a data-driven and Technologically-Enabled Business Strategy for Enhanced ROI and Profitability

04

The impact of adopting newer technologies on the business front is going to be positive. However, the pharma companies’ key decision-makers would need to align their business models with the current market needs and then choose the right mix of technologies to drive growth and maximize pharmaceutical profits.

Let us look at how technology in the pharmaceutical industry can prove to be integral in accelerating business growth for pharma companies.

01.Going Big with Big Data – Anchoring Business Decisions Based on Data Generated Insights

Big Data has made its way in almost all the major industries and healthcare-pharmaceutical integration can benefit from this technology to store, organize and leverage the humongous amount of data generated. The pharmaceutical industry can gain insights from the patient data stored on various applications. It can also leverage the data generated at hospitals to gain foresight into the current medicine demands and the c-suite level executives can drive their decisions based on these insights. The global pharmaceutical supply chain can benefit from historical and real-time data sources available on Big Data platforms. This will help mitigate supply errors, prevent bottlenecks, and ensure smooth distribution of medicines and raw material. To make best use of Big-Data learn more about pharmaceutical data analytics and business intelligence here.

02.Artificial Intelligence (AI) is the Way Forward- Expediting Processes and Enhancing Profitability

The past few months are abuzz with the news of AI being used to fasten vaccine development using computerized programs. AI is imperative to complete genome sequencing of the Covid-19 virus, running humongous data through machine learning tools to shortlist plausible drugs and vaccine candidates and systematically design massive-scale clinical trials. The pharmaceutical industry has been using AI and related technologies to fine-tune operations, fasten the drug discovery processes, and minimize human efforts. Speaking of its impact on business, the pharma executives see the positive transformation of accelerated processes. The increase in profit margins caused by AI tools and techniques has encouraged pharmaceutical companies to expand AI use.

According to Gartner’s 2020 CIO Survey, AI is the healthcare industry’s top game-changing technology. These analysts predicted 75 percent of healthcare delivery organizations will invest in an AI capability to explicitly improve either operational performance or clinical outcomes by 2021.

03.Going Virtual – Catering to the Need of the Hour to Make Better Business Choices

The past few years have seen a shift in the way the healthcare sector has been operating. Patients are moving towards online consulting and self-medication via various forums and apps. The partial shift of the healthcare sector to virtual platforms has created a ripple effect on its related sectors. The pharmaceutical companies can use this transformation to their benefit and enhance customer engagement by going digital. Digital customer engagement and experience will help them in understanding the demands and expectations of their end-users. Pharma companies can align Business strategies for manufacturing and distributing generic and over the counter (OTC) drugs with insights generated from capturing the consumer behavior on these virtual platforms. A well-researched business strategy can become the blueprint that the pharmaceutical companies can replicate in other geographies to grow their business.

How Technology is Crucial in Enhancing the Pharma Business

01

Research and Development – Cloud Computing, Big Data, AI, and Machine Learning are Expediting R&D in the Pharma Sector

02

Drug Manufacturing – Automation is Proving to be a Game Changer in Continuous Manufacturing

03

Pharmaceutical Supply Chain – The Pharmaceutical Supply Chain is Getting Digitized and Optimized with Latest Technologies

04.Opting Automation – Moving from Batch to Continuous Manufacturing to Meet the Demands

There is an ever-growing demand for medicines and vaccines worldwide, and pharmaceutical companies are on the lookout to enhance their manufacturing capacity without inflating costs to the extent that it will disrupt their business models. Technology experts are touting automation in the pharmaceutical industry as the next big thing for them. Automating the manufacturing processes and facilities will enable pharma companies to move from batch production to continuous manufacturing. Business process automation will help meet customer demands and enhance their operational efficiency.

To summarize, adapting new technologies in the pharmaceutical industry during these rapidly changing times will favor these companies. The key decision-makers who are ready to think out of the box and take bolder steps by trusting the endless possibilities of technology will be remembered as pioneers in transforming the pharmaceutical sector.

Key Takeaways:

  • Adapting new technologies and up-scaling entire infrastructure as needed might be a cost-intensive process, but in the long run, it will help pharma companies cater to the needs of changing times.
  • Business executives in pharmaceutical companies have started looking at newer technologies as imperative factors in not just R&D optimization but as catalysts in the overall transformation of the sector.

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