We’re seeing more pharmaceutical companies struggle when it comes to reorganizing the technology they have available in an effort to maximize the efficiency of their operations.
Unfortunately, many companies fall behind when it comes to their ability to use technology effectively and efficiently, especially with disparate systems in place. This can be especially dangerous considering how fast-paced these highly regulated industries can be, making it even more important to find a system that works well with your company’s specific goals and needs.
Smart operations and the role of technology
The pharmaceutical industry today is a fast-paced, ever-changing environment that emphasizes compliance and accountability. Incorporating smart operations into your business model will save you time, money, and resources and help lower costs through increased efficiency. One of the ways this can be done is by implementing a lean manufacturing process within your company.
With the help of robotics automation, QR and barcode scanning, production data management systems, and more, companies in this highly-regulated industry can enhance and optimize their processes for maximum productivity in everything from order processing to shipping.
The Medicine Development Lifecycle is especially conducive to modern smart operations strategies – from development through commercialization, because so many aspects of each step in the process involve repetitive tasks that are susceptible to automation or streamlined with advanced technology.
One example of smart operations strategies to increase efficiency, lower costs, and increase profitability is GlaxoSmithKline (GSK). GSK has been implementing lean manufacturing techniques for several years as part of its smart factory initiative. The goal was to make every aspect of production more efficient by reducing waste and optimizing processes throughout their facilities.
Smart operations are not just confined to pharmaceutical companies, though.
Microsoft Dynamics 365 can be used in a number of different industries, but it’s especially useful in sectors that require complex business processes and procedures.
Today, the battle for market share continues to be fierce. The constant challenges that large pharmaceutical companies face include managing their complex supply chains, avoiding product recalls due to quality failures, keeping safety in check at all stages of the manufacturing process, reducing production time for new products, ensuring compliance with a multitude of regulatory authorities throughout the globe…the list goes on.
Because of these challenges—and many more—it has become increasingly difficult for these highly-regulated companies to successfully identify the need for new medicines early in development while keeping a firm grip on costs and timelines. This is exactly where smart operations come into play.
So what can these businesses do to improve their efficiency? One key element of successful smart operations implementation is integration between systems.
To properly track medicines and other products throughout their lifecycle, each system involved must be able to talk with all other systems involved at every step. These companies can use advanced IT solutions like a Cloud ERP to address many of these challenges.
How Microsoft Dynamics 365 fits in
Microsoft Dynamics 365 for operations helps your business run smarter by integrating critical business systems. Here are some of the ways describing how Microsoft Dynamics 365 can be a natural fit with your company:
The model of smart operations is now an integral part of every enterprise as they look to innovate across all aspects of their businesses to maximize efficiency, maximize profitability, and accelerate growth; however, due to complex processes, there are often multiple systems used to complete a smart operation.
Microsoft Dynamics 365 for finance and operations helps you easily manage your finances, keep track of inventory levels, streamline your supply chain, manage projects more effectively, and much more. You can even use it to help you run clinical trials—helping you stay on top of data collection from start to finish.
As mentioned earlier, the entire industry is often under immense pressure to improve efficiency and cut costs in order to maximize profitability while maintaining a high level of patient care. However, these companies also need an easy way to make changes that will affect every aspect of their business – especially when undergoing rapid growth, a trend we see growing among companies of all sizes.
Microsoft Dynamics 365 offers you all these tools to easily streamline operations across all departments in your company, making sure each department is communicating effectively and working together towards one goal – success in business.
At its core, Microsoft Dynamics 365 for finance and operations is an accounting system, so it tracks how much money comes into your business and how much goes out of it daily. This data will help you determine what areas of your business are most profitable and where there might be room for improvement when it comes to efficiency or cutting costs.
Microsoft Dynamics 365 also offers several features specifically geared toward companies with complex supply chains, such as inventory management, order tracking, contract management, demand forecasting, production planning, etc., helping you keep everything organized from start to finish—no matter where any part of your supply chain happens to be located.
Suppose your company is looking to implement smart operations and partner with a tech firm with expertise in MSD operations management. The right partner can help you tailor your processes for success, guide implementation efforts to keep costs under control, and provide support throughout the implementation of your new infrastructure.
In some cases, technology implementation can be accelerated through early identification of internal resources that have demonstrated leadership abilities and a strong track record in operations-related roles. Partnering with an experienced operational systems partner will bring additional value to your investment by ensuring that you choose functionalities beyond what is available out of the box from your ERP provider.
Partnering with the right systems integrator who understands your industry can be valuable to your business. They can not only help make your processes smoother but also navigate obstacles in your path that would typically slow you down. The result is streamlined processes that experienced, qualified professionals streamline.
Being fast matters as much as accuracy and quality does—especially when it comes to getting new medicines approved for market. Any delays in production or shipping could cause setbacks for clinical trials or delays in marketing approvals.
XcelPros is a Chicago-based company and delivers transformation through technology. We offer business and technology solutions with deep industry experience in Chemical, Pharma, Life Sciences (including Medical Devices, Bio-Medical & Biotech), Insurance, Discrete Manufacturing, Process Manufacturing, Distribution and Food & Beverage.
XcelPros is a Microsoft Gold Partner, Direct Cloud Solutions Provider (CSP) and a Systems Integrator (SI) offering software licensing, implementation and consulting services for Microsoft Dynamics 365, CRM, Microsoft Dynamics AX, Business Intelligence & Analytics (Power BI), SharePoint, Office 365 and Azure (Cloud, IOT, Microsoft Flow amongst many others).
Our mission is to provide integrated technology solutions that amplify impact and empower our customer’s businesses. We believe technology is the key enabler of exponential growth for us and our customers.
Contact XcelPros today to transform your business.
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