Pharmaceutical

pharmaceutical supply chain best practices

Pharmaceutical supply chain – role of technology

Pharmaceutical supply chain – role of technology 1500 844 Xcelpros Team

At a Glance

  • The Pharmaceutical industry has witnessed exponential growth during the past decade, and pharma revenues worldwide totaled 1.25 trillion U.S. dollars in 2019 – Per Statista.
    This growth rate automatically created a need to boost supply chain visibility and inventory traceability.
  • Regulatory measures put forth by the government or agencies such as the FDA can create unforeseen challenges for Pharma companies.
  • Leveraging technology’s power and identifying solutions for Pharma to streamline operations can effectively boost your bottom-line and help in better quality control while meeting both regulations and market demands together.

Understanding the Pain Points

The inability to adapt to technological advancements and rapidly changing regulatory landscape makes managing pharmaceutical supply chains quite a tough pill to swallow. Successful pharmaceutical companies leverage the power of IT to streamline their supply chain operations.

Figure 1: Pain Points in Pharmaceutical Industry

The pharma industry has established itself as one of the fastest-growing industries in the past few decades, with a significant share of its investments in research, marketing, manufacturing, and development of its products.

In the present scenario, the table seems to be turning. The industry is struggling to keep pace with rapidly changing regulations and dealing with challenges such as:

  • Keeping up with the growing competition due to faster technological advances
  • The rapid development of new products to handle growing health concerns.
  • Healthcare providers and government reforms putting downward pressure on product prices of the industry.
  • Full traceability of the product pipeline to be on par with requirements like quality compliance, serialization mandate, and the rise of counterfeited drugs.
  • Issues related to delivering products to the market.

The above challenges highlight the importance of comprehensive solutions that help Pharma companies progress and overcome various hurdles in shipping products to customers.

Collaboration Within the Pharma Value Chain

To keep up with the growing list of challenges, Pharma companies are increasingly relying on third parties like CROs, CMOs, 3PLs to manage the following:

  • outsource research & development.
  • manufacturing of intermediates.
  • 3rd party logistics for warehouse and inventory management.
  • quality control testing.
  • shipping and distribution of products.

While this is beneficial for Pharmaceutical companies, it comes with its complexities, including the remote location of different departments, inventory, and testers. How do you run a pharmaceutical supply chain effectively when all the departments are functioning from other locations? How would you effectively manage workflows that involve the exchange of information with outsourced parties on multiple tiers of your supply?

A report by FDA showed that over 60% of the shortages in 2019 were attributed to supply disruptions due to manufacturing or quality issues.

Following are a few benefits for Pharma companies to be technology-centric:

  • Real-time & end-to-end supply chain visibility.
  • Collaboration with the Pharma value chain.
  • Optimized inventories with least stock out situations.
  • Higher margins through smarter channel allocations for an increasing share in the market.
  • Improved customer experience.
  • Visual analytics and reporting.

Digitize the Pharma Supply Chain

Companies require well-streamlined processes and collaboration using agile software solutions for Pharma that provide significant cost savings and flexibility. Technology for Pharmaceutical industry can be a helping hand to optimize the supply chains. Advanced Solutions for Pharma increase inventory visibility and lot traceability across your supply chain, ultimately improving the overall product quality. Post COVID-19, embracing technology as a growth enabler has become the need of the hour for the pharma industry.

Following the path of other industries like hi-tech and consumer goods, the Pharma companies also need to focus on these five initiatives:

01Connecting and collaborating using a working business network

A digital business network sets the foundation of a multi-enterprise supply chain, where all departments are interconnected on the cloud, ensuring seamless information flow and collaboration. Unlike the outdated model based on point-to-point connections, this multi-tier network is much advanced and helps end-users stay in sync with counterparts and move quickly through the process. The ability to collaborate enables end-to-end visibility and collaboration – the two critical factors that support smooth business interactions among different business partners involved in the value chain. Seamless integration helps you get real-time visibility and coordination in your entire extended supply chain, including multiple partners.

Figure 2: Process of Temperature Control

For example, there can be immense damage caused to vaccines due to the drop in temperature in the storage areas while being transported from one place to another. Real-time data tracking can help with adequate temperature controls by notifying when the temperatures are above or below the desired levels.

02Estimating true demand

Demand predictions are just well-painted guesses of how much percentage of the population would require a particular product in the future. Most innovative pharmaceutical companies are now following demand forecasting as per consumer product companies for their OTC products. They do this by capturing massive volumes of demand related data and feeding it into sophisticated demand planning software, which helps them predict demand effectively. The data or demand forecasts captured are shared with all supply chain partners, ensuring the pharma companies, suppliers, and CMOs align with the arrangement. Estimating actual demand helps them to bring significantly higher on-shelf availability and lowers the inventory.

03Control quality for CMOs

Pharmaceutical companies need to ensure end-to-end traceability. How do they keep track of their pharmaceutical manufacturing supply chain when a CMO is involved? Having visibility into partner’s manufacturing operations and tracking product quality across the multi-tier system is essential for pharma companies. The real-time visibility can be done by connecting CMOs to your Manufacturing Execution Systems. A manufacturing execution system helps capture relevant data at all production stages, providing granular visibility into plant operations. Pharma companies will effectively track material flows, lot genealogy, processing steps, and associated parameters, such as yields or test results – critical information to ensure traceability. Quality control is of optimal importance for any serialization initiative within Pharmaceutical companies.

04Faster planning across the network

Another essential requirement for companies is to detect and respond to changes in supply and demand faster. With largely connected systems and expanding business networks, companies have a clear, end-to-end visibility of the supply chain in the Pharma company and not just in-house operations; this includes expected lead times on inventory from a contract manufacturer or raw material supplier. However, traditional planning systems can impact your decision-making capabilities required to manage inventory shortages and suggest alternative purchase/ manufacturing scenarios. Advanced planning tools allow rapid evaluation of new buy-sell signals and easily recommend purchases from secondary vendors or alternate manufacturing routes. This new plan can then be shared with all the supply chain partners within the value chain through collaboration portals, tools, so forth.

05Manage distribution

Pharma companies are increasingly relying on third parties for transportation, warehousing, and other value-added services. Ensuring product availability implies proper management of distribution partners. For downstream visibility, inventory management coupled with sophisticated stock strategies are needed. Proactive pharma supply chain management helps all products be delivered to the right customers to increase your sell-metric, which is critical when competing in the market.

Pharma companies will customize supply chains to suit the product types being transported – data will play a key role in enabling this vision.-PWC Pharma 2020: Supplying the future

Key Takeaways

  • The expectation of better customer experience is the same across all industries and progressive Lifesciences companies understand the need to embrace digital for Pharma.
  • More Pharma companies are continually evaluating ways to address supply chain challenges to meet customer’s needs ultimately.
  • A cloud-based agile technology network to increase visibility in the supply chain and keep all functions connected for better collaboration can boost your profits and increase growth potential.

As Dynamics 365 ERP experts, we recommend taking a test drive of the solution. Email us at contact@xcelpros.com for a demo. For our product list, please Click here.

About XcelPros

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.

Call us toll-free – 1.855.411.0585 (or) visit www.xcelpros.com

Value based healthcare implementation - Key Benefits

Rapid Implementation of Value Based Healthcare – Key Benefits

Rapid Implementation of Value Based Healthcare – Key Benefits 1500 844 Xcelpros Team

At a Glance

  • The word value implies the most important outcome in a healthcare setting, measuring improvement in a patient’s condition. Value-based healthcare keeps this measure at its core.
  • While many hospitals and healthcare facilities (both private and government-funded) are looking to move away from the free-form structure, taking the right steps is crucial while implementing a value-based framework.
  • There are many factors to be considered while thinking about value-based healthcare and its future improvement in a patient’s health. The impetus is on the cost of actual effort, healthcare professionals involved, provision of better healthcare facilities, continuous research by independent bodies to measure the value-based healthcare system’s efficacy, and newer tools and technologies to help in this implementation.

Healthcare has been at the focal point of every nation, every county, and every region in 2020 with the ongoing coronavirus pandemic. Now more than ever, there is a need for reform, a qualitatively superior healthcare infrastructure. This need has been felt for decades now, which is where the concept of value-based healthcare caught experts’ eyes.

Newer, exciting technologies and governments’ interest in bringing about transformation in the care system is what got things moving in the value-based format’s direction. While the world is making great strides in this direction, stakeholders are still looking at various challenges in accelerating value-based systems’ implementation while getting its benefits.

According to a recent poll conducted by Definitive Healthcare (A USA-based Data Analytics firm), lack of resources (short-staffed, insufficient healthcare IT software, etc.) ranks as the most significant barrier (25 percent) to implementing value-based care.

Some of the other challenges in this direction are:

  • Rigid or unclear governmental policies
  • Financial risks involved
  • Lack of guidance for health organizations to move from conventional payroll software to newer, more sophisticated tools
  • Data management and analysis (pertaining to patient information)
  • Tools to accurately calculate health outcome in terms of value to the patient instead of volume
  • Lack of skills to leverage the latest care management tools to gain maximum benefits

This article discusses ways to accelerate the implementation of value-based healthcare and how the future looks for this transformative system.

How can Organizations Implement Value-based Healthcare?

1.Determine the medical facets for a value-based healthcare system implementation:In the beginning, health organizations are advised to categorize and prioritize the areas of medical care where they wish to go for a value-based format. Based on your goals, you can either implement this system for state-insured healthcare or high-burden medical areas or the ones where professionals have to deal with high volume frequently. This type of categorization will help you set intermediate goals and systematically implement and assess the benefits of a value-based healthcare format. It will also encourage the employees to adapt to the change in a gradual, phased, and systematic manner.

2.Make use of technology to expedite the implementation process:We live in the age of digital advancements and an abundance of data. By leveraging these two strategically, you can take leaps ahead in terms of not only implementing but accurately running a value-based healthcare system. Tools and software of the digitized era allow hospitals to maintain each patient’s data and to calculate health benefits for them with ease. Take Microsoft Dynamics 365 ERP for an example. This tool facilitates data collation, analysis, automated report generation, and across the board rollout of the latest health plans for medical care facilities.

3.Think of healthcare as an integrated stream with multidisciplinary bodies:In a conventional, free-form healthcare system, medical personnel worked in silos. This creates a barrier amongst different faculties- medical, paramedical, and operational. To successfully implement a value-based healthcare system, organizations need to think of healthcare as a cumulative system where all the disciplines should have access to a centralized data pool to input their findings and generate insights pertaining to patient output.

Future of Value-based Healthcare: What Lies Ahead

Figure 1:Value-based Healthcare: The Multi-pronged Approach

The Covid-19 pandemic has compelled governments worldwide to inspect their healthcare infrastructure. As the world navigates through these tricky times, it is a given that there will be significant reformations in the medical care system globally. Speaking specifically about the value-based healthcare format, here are some of the upcoming value based care trends that organizations need to keep a tab on:

  • Encouraging movement towards the value-based healthcare system because of the implementation of risk-sharing models.
  • The emergence of cloud-based, one-stop-solution IT infrastructure to facilitate the value-based medical care system.
  • Need for motivating factors and incentives for the medical staff to keep on working in a value-based ecosystem.
  • Increased mergers and acquisitions, giving rise to corporate investments in the healthcare system.

To sum it up, any organization or a healthcare facility looking to implement and sustain a value-based healthcare system will need to internalize a behavior change. This behavior will be driven by the need to enhance patient outcomes. Similarly, technology will play a significant role in this type of implementation. Professionals in the medical domain will need to upgrade their technological know-how to effectively leverage a value-based care system’s benefits.

Key Takeaways

  • The world is looking at value-based healthcare as the next big thing in the medical domain, and thus there is a need for more advancements to facilitate accelerated implementations.
  • Medical professionals, technology consultants, business experts, and investors will play a key role in sustaining this type of transformative healthcare format.

About XcelPros

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.

Call us toll-free – 1.855.411.0585 (or) visit www.xcelpros.com

Pharmaceutical Analytics and Business Intelligence using Power BI

Pharmaceutical Analytics and Business Intelligence using Power BI

Pharmaceutical Analytics and Business Intelligence using Power BI 1920 1080 Xcelpros Team

Introduction

Modern pharmaceutical companies are undergoing a significant transformation with opportunities presented by digitization, big data, and analytics. Post COVID19, businesses are seeing an increased need for an agile enterprise Business Intelligence (BI) architecture to leverage these opportunities & seamlessly deliver business-critical insights to executives. Successful Pharmaceutical companies go beyond standard operational & statutory reports and are implementing more powerful Analytics and AI-driven solutions. These solutions provide actionable insights and useful performance indicators for efficient decision making. The more actionable your reporting is, the more empowered your team gets to enable the right engagement that ultimately drives results for your organization.

The strength of the analytics software comes with the agility of the tool to help users easily create quick insights, especially if you are an agile pharmaceutical manufacturing company. Creating reports in days instead of months frees up hundreds of hours in unnecessary spend to gather these hidden insights. This cost-saving allows business leaders to repurpose cost savings towards other operational improvements and growth. Pharmaceutical companies generate massive information every day through their day to day operations. But the data is not always being put to the right use. Some companies tend to look at reports with a traditional eye that doesn’t drive a ‘call to action’ to grow the business.

There is a right and wrong way of reporting – one provides overwhelming numbers, while the other means to understand those numbers and make them actionable.

Modern pharmaceutical companies are still undergoing a significant transformation with opportunities presented by digitization, big data, and analytics. Enterprises are seeing an increased need for an agile enterprise Business Intelligence (BI) architecture to leverage these opportunities & seamlessly deliver business-critical insights to executives.

The Strength of PowerBI

Power BI, a business analytics solution, lets you visualize your data and makes it accessible to your Organization. Insights can be easily shared through various platforms of your Organization by embedding them in your app, portals, or website, collaborating on Teams, and integrating them into your ERP or CRM applications. Microsoft’s Power BI makes it easy to combine these numbers from different sources, streamline analytics onto a single dashboard, act on newfound insights, and enhance visibility to other teams in your organization.

Leveraging the strength of PowerBI through interactive reports can be done through a few quick and easy steps:

  • Onboard
    • Access PowerBI either from portal.powerbi.com or any of the Microsoft ERP/ CRM applications.
    • Connect to your data wherever it lives.
    • Explore your data with interactive visuals.
  • Collaborate & Share
    • Publish reports and dashboards.
    • Collaborate with your team.
    • Share insights inside and outside of your Organization.
  • Access insights from anywhere
    • Act with seamless access to data insights from your desk or home.
    • Access on the go with Power BI visual reports built rapidly.

Turning Industry Data into Smart Decisions

Leading Pharmaceutical companies who are transforming into agile organizations need 360-degree insights for business-critical functions such as manufacturing execution, sales productivity, financial management, purchasing raw materials from approved suppliers, quality assurance & quality control.

New age pharmaceutical organizations collaborate, monitor, and communicate on available live data to achieve operational excellence. Pharmaceutical business intelligence enables these organizations to monitor real-time data from multiple sources and combine them into one pharmaceutical dashboard with the ability to drill-down into the report to identify issues, as necessary.

Figure 1: Pharmaceutical Analysis using Power BI

Usage in the Pharmaceutical Industry

01.Interactive Reports

Power BI is an analytics software that brings to the table a strong background in delivering end-to-end BI analytics to modern Pharmaceutical companies such as

  • Efficiency Reports On Lot Production
  • Trending And Analysis Of Quality Control Data
  • Recommendations Based Clinical Trial Reporting
  • And Financials Per Batch Produced For Each Product
  • Product Go to market assessments (how much spend and types of activity is involved, expected and actual results)

02. KPI Reporting

Accurate decision making occurs when reporting provides clarity on both good and bad data points on prime KPIs. With business analytics in the pharmaceutical industry, companies can acquire intelligence in real time and can track key performance indicators such as

  • Machine utilization
  • Process efficiency
  • Cost of Sales
  • Inventory levels
  • Batch Losses and cycle times
  • Quality standards of a product line
  • Customer engagement and customer experience

03.Real-Time Analytics

One of the essential requirements of agile Pharmaceutical companies is to have real-time analytics of overall operations as they occur, to make quick corrections, and proactively handle situations before they turn into risks. Especially for manufacturing execution and inventory management, knowing the work is progressing and inventory is turning around helps production supervisors to manage batch production processes much faster and make on the fly corrections. This type of real-time reporting on big screens in a production plant gives that needed visibility to both the manager as well as the operator to be alerted and aware of any green, yellow or red batch processing.

Figure 2:Real-Time Data Tracking with Power BI

Why PowerBI?

Few benefits of PowerBI that is enabling a business to lead to improvements are as follows:

1. This information gives the ability to make changes in the process based on how well resources are functioning to increase productivity, and how each product lot produced is performing in the market.

2. Getting real-time alerts with Power BI mobile apps makes your operations more efficient, allowing you to achieve a higher level of organizational agility and minimize response times.

3. Power BI enables monitoring of your supply chain end-to-end, letting you identify problems and potential bottlenecks before they can affect critical processes.

4. Monitoring quality inputs and outputs from all sources, including your customers, allows you to make quick and meaningful decisions that will improve the quality of batches that are manufactured.

4. The ability to share your dashboards with suppliers and partners is a plus and accommodates adjustments to the latest information available to work towards making your processes leaner and smarter.

4. Microsoft’s Power BI is a full-featured, must-have BI solution that offers a lot of micro benefits to many different organizations on their path to success such as –

    • Global Scale – Local Speed
    • Agile Business Processes
    • Predictive Analytics
    • Machine-to-Machine
    • Employee Onboarding

Some basic analytics used by Pharma companies are as follows:

  • Products & Inventory
    • Full Track & Trace Functionality
    • Enhanced Global Marketability
    • Customer Requirements
    • Product Quality
    • Product Recalls
  • Sales
    • Quotes & Order analysis
    • Pricing and Cost reporting
    • Available-to-Promise reporting
    • Order Profitability
  • Supply Chain
    • Match demand and supply
    • Improved Supply Chain Responsiveness
    • Updated and efficient Logistic analysis
  • Financial
    • Product Profitability reports
    • Batch costs
    • A full audit of transactions
  • Manufacturing
    • Safety and sustainability analysis
    • Realtime production data reports
    • Equipment failure predictions
    • Production rescheduling

Closing

The first and foremost step for change comes from enhancing visibility in operations be it in manufacturing execution, sales force productivity, procurement, or financials. From the moment you start considering a BI solution for your growing Pharmaceutical company, the benefits of Microsoft’s Power BI become evident very quickly. Power BI brings to table a strong background in delivering end-to-end BI services to modern Pharmaceutical companies – covering BI strategy, managed services, implementation & support. Microsoft’s Power BI will continue to be a must-have product for leading Pharmaceutical companies by delivering 360-degree insights for business-critical functions such as sales, finance, procurement, and more.

About XcelPros

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.

Call us toll-free – 1.855.411.0585 (or) visit www.xcelpros.com

Key Role of ERP Systems in Pharmaceutical Industry

Key Role of ERP Systems in the Pharmaceutical Industry

Key Role of ERP Systems in the Pharmaceutical Industry 1440 810 Xcelpros Team

At a Glance

  • Disruptions brought by Industry 4.0 and digitization in the pharmaceutical sector is undeniable, and thus pharma companies need to arm themselves with state-of-the-art software solutions and tools to stay ahead in the game.
  • Tracking, tracing, and serialization needs the support of automated tools that can not only reduce manual efforts but can also mitigate the errors leading to stock-outs, delivery issues, and callbacks.
  • Pharma companies need to be compliant with managerial and quality regulations. An ERP with Pharmaceutical and Biotech centric solutions help companies meet all the regulatory requirements.

Technology has taken over our way of life and way of work. All major and minor sectors are undergoing massive changes to adapt to these changing times, and the same goes for the pharmaceutical industry. Pharma companies worldwide face various challenges, such as increasing process complexities, changing consumer dynamics, healthcare reforms, an abundance of data without an infrastructure to leverage it, and more. These changing tides caused pharma companies to look at ERP as a panacea to solidify their IT framework and use the latest technologies (Cloud, Big Data, Automation, Artificial Intelligence, Machine Learning, Data Analytics, etc.).

However, merely adapting an ERP system will not give pharma companies value for their money.

In fact, according to a report by Gartner, by 2021, ERP cloud enterprise application implementation labor rates will increase by 60 percent due to high demand and a lack of skilled resources.

This indicates that, like other sectors, the pharma industry would need to invest in skill upgrading of their employees and get expert ERP consultants on board for a smooth implementation.

Now, let us talk about the need for an ERP software system in the pharmaceutical industry in today’s time (especially as it needs an ERP that is tailor-made for the industry’s regulations and norms). Here is a deep-dive into some of the key reasons for pharma companies to go the ERP way:

1.Manufacturing formulation and preformulation management:The drug manufacturing process comprises strict formulation and monitoring of raw material ingredients and finished product yields to produce a batch. The pre-formulation stage includes defining drug production procedures, stages, quantities, so forth. With a robust ERP system, such as the Microsoft Dynamics 365 ERP, pharma companies can ensure automated management of these formulations without constantly monitoring productions and without the worry of manual errors.

2.Effective product costing:The costing of drugs involves various factors such as raw material master management, procurement cost, supply chain tracking, vendor cost management, so forth. In a legacy system, these departments work in silos, and the changes made in data or any variable takes time to get communicated to other branches. There is centralized access to data with an ERP system, and an interconnected network is established between various functions to develop concurrency. Well captured data helps in efficiently defining product costs, and any changes made can reflect in the system, enabling finance to accommodate those changes appropriately.

Figure 1:Benefits of ERP for Pharmaceutical Companies

3.Meeting Regulatory Compliance:Regulatory compliance is a big one for all pharma companies. These regulations affect the brand name and consumer’s trust, but there is a factor of safety involved. Regulations and norms also differ regionally. It is essential to stay on top of safety and healthcare protocols to maintain global standards, and this is where a comprehensive system like Microsoft Dynamics 365 ERP can serve as a game-changer. Its flexible interface, centralized networking features, and automation solutions allow pharma companies to keep up with the changing rules and regulations and helps drug manufacturers to track these measures and stay compliant.

Pharmaceutical companies are also mandated to maintain CFR 21 Part 11 wherein it is a statutory requirement to record (or document- either in print form or electronically) the steps and procedures that comprised the production of a medicinal product. Microsoft Dynamics 365 Finance and Operations is compliant with this FDA regulated electronic signature and electronic record.

4.Systematic and Efficient Inventory Management with Real-time Tracking:Effective inventory management for a smooth supply chain and avoiding stock-outs or bottle-necks is always a concern for pharmaceutical companies. This concern has now reached the global level as governments across the world are looking to not only manufacture or procure enough potential Covid vaccines but to manage inventories so that the doses reach their population smoothly. An ERP system can help with real-time track and trace and serialization to manage the inventory and avoid plausible glitches. An ERP system can also effectively help in accelerating product recall with its high-end traceability solutions.

5.Managing Variability and Predicting Scalability:Manufacturing of drugs involves managing supply chain variability, understanding its sources, and gaining a hand over release failures. Another aspect is predicting the scalability of product demand to alter manufacturing capabilities/capacities effectively. Both these involve strong communication between different functions and the use of data to preempt change. With a robust ERP for the pharmaceutical industry, companies can achieve these goals through predictive analysis, data crunching, and supply chain visibility.

In summation, it is crystal clear that pharmaceutical companies can benefit a great deal from an effective ERP implementation. This will not only accelerate production but also help in streamlining operations and managing costs.

Key Takeaways:

  • A cost-effective and flexible ERP system such as the Microsoft Dynamics 365 Finance and Operations is proven to enable pharmaceutical companies to take the right steps in the realms of digitization, automation, and artificial intelligence.
  • ERP system is the need of the hour, and getting expert consultants onboard can help pharma companies in meeting their customized financial, operational, and regulatory requirements completed without complications.
  • The industrial dynamics are changing at lightning speed, and the pharmaceutical industry needs to keep up with these changes to stand the test of times.

About XcelPros

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.

Call us toll-free – 1.855.411.0585 (or) visit www.xcelpros.com

Manufacturing Metrics and KPIs That Matter the Most

Manufacturing Metrics and KPIs That Matter the Most

Manufacturing Metrics and KPIs That Matter the Most 1440 810 Xcelpros Team

At a Glance

  • The manufacturing industry runs with the integration of people, tools, processes, and information. The data generated from each of this facet needs to be quantified and analyzed.
  • In the manufacturing world, those who know their metrics tend to learn the tricks of the game.
  • The metrics that matter the most are the ones that help you and your manufacturing company gain essential insights regarding different functionalities and business areas to improve the manufacturing process continuously.
  • One of the most crucial aspects of knowing and managing manufacturing metrics is being systematic and optimizing the best results.

In any business, it is essential to know and understand your numbers. While this may sound simple, we all know that it is far from that! The numbers or metrics need to be collated, classified, quantified, and analyzed to add value to the business, especially for a multi-pronged industry like manufacturing. The manufacturing metrics are diverse, and each metric has a different value in the entire manufacturing value chain. The cumulative analytics study of a group of these metrics helps the manufacturing companies gauge their performance and form strategies for continuous improvements.

Figure 1:Cycle of Continuous Improvement Methodology

 

As a manufacturing company, you aim to achieve a higher ROI by a thorough analysis of manufacturing metrics and aligning them with your short-term and long-term business goals. Each of these metrics can serve as the source of truth as it represents a precise measurement of your manufacturing processes either in terms of quality or quantity (and sometimes, both). So, let us take a look at the manufacturing metrics that matter the most and how you can fortify your IT infrastructure to study and derive insights from these metrics.

1.Forecasting of Demand:Market research helps companies gain ideas to make estimates about demand forecasting. Manufacturers’ objective is to gauge the amount and type of raw material they will need for their upcoming business cycle. Planning, supply chain management, and operational alignment can significantly benefit with the help of this metric. It is essential to keep in mind that demands foreshadowing is dependent on external factors and, thus, subject to sudden changes. Take, for example, the ongoing Covid-19 pandemic. Many manufacturers found that their yearly estimate had taken a hit (especially sectors like automobile and luxury consumer goods). On the other hand, the demand for medical equipment and hygiene products increased by several folds all over the world. In such a disruptive scenario, manufacturing companies can benefit from a robust enterprise resource planning system such as the Microsoft Dynamics 365 Finance and Operations that seamlessly enables change management, demand analysis, and order management.

2.Throughput/ Yield in Terms of Units Produced:A manufacturing company’s business efficiency is directly proportional to its yield. Throughput is a metric that measures the average number of units produced in a particular amount of time (other coefficients being per machine, per production line, or facility). The correct yield information helps manufacturers gauge their performances accurately, address bottlenecks, and design plans for improvements.

63%

of manufacturing executives plan to get more out of what they already have invested within their manufacturing and supply chain network.

Source: Accenture

 

3.Inventory Turnover:An inventory is the mirror of a manufacturing companies’ performance- after all, knowing how many times an inventory is sold or used up in a particular timeframe is the measure of knowing its success in the market. Thus decision-makers in the manufacturing industry need to analyze the turnover data of their inventories. To expedite the analysis and avoid data mismanagement, manufacturers can invest in an automated ERP system that can track the inventory data in real-time and facilitate seamless coordination between multiple stakeholders.

4.Quality Analysis:The quality of your product is the final truth. Thus, it is essential to know your quality metrics- this includes monitoring and documenting raw material quality, supplier’s quality incoming, random quality checks at manufacturing plants, and packaging quality, so forth.

5.Overall Equipment Effectiveness (OEE): Be it single equipment or the entire production line, knowing effectiveness is essential to attain timely yield that matches the quality and quantity requirements. This metric is recognized by the manufacturing industry worldwide as one the most important to assess agility, downtime, and overall production quality.

Microsoft Dynamics 365 ERP and BI Helps in Tracking and Management of Your Quality Metrics in Manufacturing

The metrics above and many others in manufacturing come in the form of humongous amounts of data generated through multiple sources and are subject to many changes. So how does one democratize this data? By creating a data pool, the answer is a single source of truth for multiple manufacturing metrics that can help companies track, manage, and analyze the data against their KPIs.

Figure 2:Role of Sophisticated ERP in Managing Manufacturing

 

Microsoft Dynamics 365 ERP and BI essentially optimize your IT infrastructure to systematically allow real-time data access, multi-level visibility, and artificial intelligence-backed insight generation. You can visualize and track your manufacturing metrics’ progress and get a cumulative progress cognizance of your production line.

For every manufacturing company, metrics are the quintessential sources of truth. However, how you view these metrics, how accurate your information is, and how you leverage it will decide your manufacturing company’s success.

Key Takeaways:

  • Every company needs to reinvent its best practices with the help of manufacturing metrics for a profitable business.
  • Investing in a fortified IT infrastructure to track and manage manufacturing metrics is the need of the hour for manufacturing companies.

For a free assessment in Microsoft Dynamics 365 Finance and Operations.

Get Started Now

About XcelPros

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.

Call us toll-free – 1.855.411.0585 (or) visit www.xcelpros.com

 

pharmaceutical serialization track and trace

Gen-Next Serialization in the Pharmaceutical Supply Chain: Improving Track & Trace

Gen-Next Serialization in the Pharmaceutical Supply Chain: Improving Track & Trace 1500 1049 Xcelpros Team

At a Glance

  • Worldwide, pharmaceutical companies are dealing with drug counterfeiting, adulterations, supply chain thefts, and packaging glitches. Serialization has become the need of the hour, and it is much more than just applying barcodes to personalized medicines.
  • This age of fast-paced digitization calls for modifications and improvements in the serialization techniques. To better strengthen the supply chain loopholes need to be identified and transparency to be maintained not just at the batch level, but for each strip or bottle of the drug.
  • Pharmaceutical companies and their supply chain vendors will need to make use of Advanced Analytics, Cloud, and Internet of Things (IoT) to get a grip on the modern-day serialization techniques.

Traceability being a mandate globally, and the laws changing across borders, major pharmaceutical companies are working towards improving the tracking and tracing process in the supply chain for better compliance. To that effect, pharmaceutical companies are developing and implementing serialization techniques. Supply chain security, counterfeiting drug theft, better product traceability, mitigation of drug contaminations, and overall cost-savings are different facets that are considered.

Reports suggest that by 2023, globally, more than 90% of drug supply will be scrutinized under track and trace regulations to enhance patient safety measures by combating drug counterfeiting.

The need for serialization is no longer restricted to global mandates compliance but accounted for various other factors. Over the years, pharmaceutical companies have struggled to maintain transparency, accountability, and integrity in the supply chain. The product lifecycle from manufacturer to supplier, distributor, and ultimately the consumer has had various loopholes at different levels – package damage, drug theft, manual errors, and so on. To seal these gaps and improve overall supply chain, serialization is proving to be a useful technique even surpassing the shortcomings of other solutions such as sturdy packaging and traceable 3D hologram models.

FIGURE 1: Common Loopholes in the Pharmaceutical Supply Chain

 

Innovation is the key to improving trace and track in any supply chain model, and the pharmaceutical supply chain is no exception to this. Companies worldwide are investing millions of dollars in maintaining the integrity of their product throughout its lifecycle from the lab to the patient. To overcome manipulation in product quality and quantity, assigning either a unique identification number or a barcode to the individual items (such as a strip of tablets of a bottle of medicine) for computerized serialization and tracking proves to be a fortified supply chain solution.

This article discusses the newer innovations and latest trends in serialization in the pharmaceutical supply chain.

01.Data Encryption and Data Security

The primary aim of pharmaceutical supply chain serialization is to make sure that the ultimate consumer gets the right drug at the right price. At the same time, companies can easily trace and track their products. This calls for stringent data management and security. The inefficiencies are arising in life sciences companies’ supply chain due to data errors or data leakage causing massive financial debt.

According to Interactive Data Corporation (IDC), the pharmaceutical industry loses on average 4.5% of its potential revenue because of supply chain inefficiencies.

The upcoming trend in serialization will place extra emphasis on data encryption to maintain security and thus the integrity of the product throughout its lifecycle.

02.Recalling Made Possible for Individual Product

The pharmaceutical industry is highly susceptible to product recalls in cases of insufficient packaging or a risk-inducing drug. Earlier, these recalls were made at batch-levels, causing companies massive revenue leakage and disturbing the supply chain on a larger scale. Narrowing down traceability to the individual unit makes it possible for companies to in-turn, narrow down the recalls to different products. Serialization also allows in knowing exactly when and where the product quality was compromised.

FIGURE 2: Serialization to Improve Track and Trace

 

03.Use of Advanced Analytics

The life sciences companies and their collaborative research branches are looking to better gauge the consumer pattern to cater better to the demands. The use of advanced analytics applications like Microsoft Power BI for visualized, cutting-edge business intelligence reports for serialization will help in learning this pattern. Power BI can enable the end-users in creating their customized dashboards, thus helping with predictive analysis. This can also help in preempting the demand for a particular drug so that pharmaceutical manufacturers can alter their supply chain accordingly to meet the requirements.

04.Enhanced Visibility at Every Level of Pharmaceutical Supply Chain

Apart from ensuring better accountability and compliance, companies are also making use of serialization to enhance visibility and improve monitoring at every level of the pharmaceutical supply chain. This will aid in avoiding stock-outs, monitoring packaging, improving the distribution process, and making sure that the drug is supplied per requirement across the market.

05.Barcoding & Labeling

This time-tested method is one of the most-used for a reason- it makes serialization a lot more streamlined and can help in advanced tracking. The latest digital barcoding techniques and advanced label-making capabilities can help the pharmaceutical industry in taking serialization in the supply chain, a level up.

10%

of the global pharma drug supply is counterfeit, which costs up to $200 billion annually. Additionally, the Interpol calculation reveals that this volume of counterfeit drugs takes a toll of 1 million people every year.

Source: WHO

 

How will Serialization Impact the Face of Pharmaceutical Companies in the Near Future?

  • Globally various countries like the USA, UK, Italy, Turkey, and India have taken up serialization of their pharmaceutical supply chain to some extent or the other. Speaking specifically of the United States, serialization of all the drugs at the sealable unit and case level has become a mandate since November of 2017 under the Drug Supply Chain Security Act (DSCSA). This will impact the pharmaceutical companies and their supply chain vendors in the following ways:
  • In the near future, manufacturers will need to serialize all their drugs at an individual level with barcodes for better track and trace.
  • There will also be a change in the ways in which manufacturers supply their drugs. Thanks to serialization, they will get better visibility of the market, down to individual drug demand. This will help in better drug distribution.
  • Warehouses and inventories will be equipped with better visibility and a fortified drug distribution plan.
  • There will be a better understanding and communication among cross-functional teams. As serialization has an inflow and outflow of information at the production-floor level and at inventory-level, life sciences researchers, packaging personnel, IT experts, and distributors will all be on the same page with regards to the data available for a particular drug.

Challenges in Serialization Faced by Pharmaceutical Companies

Like any other change across the supply chain, serialization has its own set of challenges for the pharmaceutical companies. Here is a look into some of the potential challenging areas when it comes to implementing serialization:

  • Hardware Setup and Updates: Companies will need to make sure they have highly functioning hardware to manufacture labels, barcodes, and seals that are essential for serialization.
  • Steady Flow of the Production Line: Sticking to the process of serialization and making your skill base acquainted with this process might slow down the production line. The use of labels for individual units will also significantly slow down the packaging process.
  • Overall Cost Inflation: Cost inflation is a given when it comes to serialization, given the costs involved in hardware and software. However, this can be negated via pooled-investments and sustainable applications of the hardware and software.
  • Skilled Personnel Shortage: Newer, digitized ways of serialization would require a skill base that is well acquainted with the technicalities and details of these techniques. Currently, companies are facing a lack of a skilled employee base that is technically sound enough to implement their serialization strategies seamlessly.
  • Technical Glitches: Serialization is a process that requires minimal human intervention, and while that can be beneficial to avoid manual error, there is also a possibility of technical glitches in the process leading to incorrect tagging and compromised track and trace.

Key Benefits of Serialization Implementation in Operations:

  • End-to-end implementation across the supply chain for drugs in a hassle-free way
  • Seamlessly sealing the supply chain loopholes to combat drug counterfeiting and warehouse packaging glitches
  • Minimal human intervention needed, making serialization a full-proof, effective way to ensure brand authenticity and mitigate batch recalls
  • Total compliance with the US traceability regulation.

With all the challenges and benefits in mind, every pharmaceutical company will need to keep working towards an advanced, digitally-adept, full-proof serialization process for their supply chain to counterfeit the proliferation of drugs and avoid compromising with drug quality.

Key Takeaways:

  • Serialization in pharmaceutical supply chain plays a significant role in avoiding drug theft, counterfeiting, batch recall and plausible hazard to the patient’s health; Newer trends in serialization are making use of advanced analytics for better drug distribution and fewer stock-outs.
  • No two pharmaceutical companies will have the same blueprint for their supply chain, and thus they will need to devise unique serialization processes to suit their requirements.
  • As the serialization of drugs has become a mandate in the USA, it is imperative for pharmaceutical companies and their supply chain vendors to understand and master the technical details of implementing serialization at batch and case levels.
  • The pharmaceutical companies will need to prepare themselves to overcome the potential challenges in implementing adept serialization to fortify their supply chain and enhance visibility for better drug track and trace.

XcelPros’ Microsoft Dynamics 365 solutions enable pharmaceutical companies to seamlessly implement serialization for better compliance and enhanced track and trace.

Get Started Now

About XcelPros

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.

Call us toll-free – 1.855.411.0585 (or) visit www.xcelpros.com

 

Pharmacovigilance Importance

The Importance of Pharmacovigilance During a Pandemic

The Importance of Pharmacovigilance During a Pandemic 1440 810 Xcelpros Team

At a Glance

  • The World Health Organization (WHO) has always emphasized providing the most effective drug that does not cause severe adverse effects.
  • An understanding of adverse effects and how to prevent them by assessing the right chemicals, quantities, and processes in drug/ vaccine manufacturing is a must.
  • There are several digital solutions and services available today designed to help the top scientists and decision-makers in the pharma companies in their pharmacovigilance journey.
  • Both now and after the Covid-19 pandemic, organizations worldwide will need to place significantly more focus on drug quality checks to avoid any mistakes caused by rushing the process as we return to ‘normal’.

Today, terms like ‘clinical trials,’ ‘safety assessment tests for vaccines,’ and ‘FDA approvals’ are trending due to COVID 19. While these terms have always been a part of any pharma and biotech manufacturing companies’ pharmacovigilance protocol, the pandemic at hand has brought them light. Most of us are curious about why it takes so long for a drug or vaccine to get approved for mass use, and rightfully so. The answer lies in the principles of pharmacovigilance.

The World Health Organization (WHO) defines pharmacovigilance as the science and activities relating to the detection, assessment, understanding, and prevention of adverse effects or any other drug-related problem.

The Primary Goals of Pharmacovigilance Guidelines

  • Assessing short term and long term adverse effects of a drug
  • Continuously collate and monitor the safety-related data of a particular drug
  • Perform risk v/s benefit assessment of the drug to make a guided decision on the administration of the drug
  • Two-way communication of the data about any Adverse Drug Reaction (ARD) between health professionals and clinical researchers to maintain transparency at all levels
  • Intervention by medical bodies/ pharma companies whenever required to prevent an unsafe drug’s distribution and administration

Pharmaceutical companies require a team of professionals to carry on this constant quality check journey for their drugs. This team can consist of scientists, clinicians, biochemists, physicians, and medical writers. Their job is to collect, collate, analyze, and assess every drug’s safety profile data. However, for a task that requires constant alertness and an unprecedented level of agility for accurate and quick response, manual applications are no longer enough. Pharmacovigilance plays an important role for pharma and biotech companies to use it as a solution. This solution should be smart enough to aid in centralized data collection, analysis, and run AI-based programs for drug composition analysis, safety profile mapping, and other crucial steps required for quality checks.

Pharmaceutical companies need to follow a wide range of processes to ensure their pharmacovigilance is up to standards. Any negligence or oversight can lead to severe fines, injuries, or even death.

According to a paper by Elizabeth Ndichu, MD, and Kevin Schulman, MD, The scope of the problem of poor-quality drugs transcends national borders because the manufacturing and supply chain of medical products thrives in an international market.

To comply with the quality standards and still meet the demands of fast-track drug development and clinical trials (especially in the times of a global pandemic), pharmaceutical and biotechnology firms need to strictly adhere to the process for end-to-end pharmacovigilance, which can include, but not limited to:

  • Carrying out detailed patient surveys for different age groups, geographies and of varying health conditions
  • Appointing pharmacovigilance consultants and experts (either in-house or third-party) to manage the intricacies of this journey competently
  • Making use of extensive databases to support technological platform such as Microsoft Dynamics 365 for the pharmaceutical industry to ensure error-free data maintenance and analysis along with report generation
  • Keeping all the stakeholders in loop at all times to avoid any oversight
  • Maintaining records of different pharmacovigilance solutions, especially products other than medicines such as cosmetic goods, nutritional supplements, and dietary products
  • Formulating a plan for intervention, mitigation, assessment, and resolution in the event of drug quality issues

Figure 1:Digital Ecosystem: Pharmacovigilance

Pharmaceutical companies will also need to be nimble in their approach towards pharmacovigilance. Leveraging technology for streamlining safety procedures and quality checks is not a matter of convenience, but an absolute necessity.

Solutions like Microsoft Dynamics 365 Finance and Supply chain provide Quality Control functionality and a way to enter, track, and report quality test results. This makes it easy to leverage technology to streamline quality check operations.

Using these solutions can pave the way towards regulatory compliance, stringent component mapping, and monitoring of a drug’s safety profile and reduce manual intervention for pharma personnel, allowing individual case safety reports (ICSRs) to be performed with ease. Microsoft Dynamics 365 is a comprehensive solution that forms an ecosystem for all stakeholders involved by mapping a drug’s safety profile with intervening bodies.

Different departments can use these systems, clinical researchers, scientists, medical writers, physicians, medical representatives, state-owned drug governing bodies, and more, and are usually considered one of the best investments a company can make today.

Key Takeaways

  • Technologically-enhanced pharmacovigilance is the need of the hour for pharmaceutical companies.
  • Globally, the pharma sector is transforming, and this needs collation of medicinal data at a global level to map drug safety across geographies.
  • Forming a blueprint to follow the pharmacological journey is imperative for any pharma and biotech company.

About XcelPros

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.

Call us toll-free – 1.855.411.0585 (or) visit www.xcelpros.com

Customer Journey VP of Quality Control

Customer Journey VP of Quality Control 1440 810 shahid.anis
Managing label serialization

How a Pharma CDMO can manage the Serialization Challenge

How a Pharma CDMO can manage the Serialization Challenge 1920 1080 shahid.anis

At a Glance

  • Today, serialization has moved past the point of being a nice-to-have option to becoming a necessity.
  • Pharmaceutical companies are tying up with CDMOs to develop sustainable serialization solutions for maintaining drug quality and avoiding supply chain glitches.
  • CDMOs face various challenges when it comes to implementing a robust serialization mechanism to allow for better distribution.

The advancement of Industry 4.0 and digitization has introduced another level of complexity when it comes to pharmaceutical serialization track and trace in the supply chain. The industry is constantly looking to improve its tracking systems while devising new ways to mitigate genuine concerns like counterfeiting, theft, packaging and storage mishaps, and drug adulterations. Pharmaceutical companies have long been outsourcing to CDMOs for the purpose of better manufacturing practices, and serialization of the supply chain is an imperative part of the process.

30-40%of all medicines circulated in the developing countries are counterfeit.

5-7%of all medicines circulated in the developed countries are falsified.

Source: WHO Report

These statistics pose a serious threat to the public’s health and challenges the authenticity of the pharmaceutical industry on a global scale. CDMOs worldwide face challenges either when implementing a robust pharma serialization solution or attempting to streamline manufacturing and distribution processes while understanding the unique serialization requirements of their clients.

Below are some of the challenges a CDMO faces while implementing pharmaceutical serialization track and trace and some interesting ways they can be addressed.

Serialization Challenges Faced by CDMO

  • Seamless Serialization for Multiple Clients CDMOs typically prefer to operate at a global level, providing comprehensive drug manufacturing and supply services to various pharmaceutical companies. Catering to a diverse base of clients has its own unique set of challenges, especially when it comes to the serialization of individual drugs. CDMOs need to equip themselves with the right technology to be able to modify their production or manufacturing lines in order to seamlessly serialize multiple drugs from or for different clients all at the same time.
  • Compliance Across Various Regions Within the United States of America, every state has different laws and rules in place, and across these states, many US-based pharmaceutical companies export their drugs to other countries. This can require a powerful pharma serialization mechanism in order to remain in compliance with varying global and local standards, rules, and regulations. CDMOs are expected to take part in ownership and responsibility when it comes to the quality of drugs and compliance with various government rules. This process can be a challenging area for CDMOs, especially true when you consider the vast databases and maintenance required to remain compliant.

FIGURE 1: Key Serialization Challenges Faced by CDMOs

  • Picking the Right Labelling Solution When it comes to the serialization of drugs, there should never be a one-size-fits-all approach to labeling solutions. From label materials to the hardware used including, Thermal Inkjet Technology, Thermal Transfer Technology, Laser Printers, Digital Printers, etc., CDMOs have a lot of decisions to make. Label layout, orientation, barcode design, compliance adherence, and validation, and these labels need to be manufactured in a stipulated amount of time for maintaining the continuity of the drug’s supply chain. This all comes down to making the right choice when it comes to coding and labeling technology.
  • Understanding Market Requirements While larger pharmaceutical manufacturing companies may have an in-house team of analytics and marketing specialists; mid-size and virtual companies often still rely on CDMOs for market intelligence.When it comes to serializing drugs of their clients, CDMOs need to understand the different markets and their requirements. Based on market analysis, CDMOs make a decision as to how many drugs need to be serialized for a particular market, including whether they’re choosing to use randomized or centralized serializations.

Different ways CDMOs can overcome Pharma Serialization Challenges

As every case is different, it’s unknown which factors may be bigger issues than others. To be able to address these challenges as they come, CDMOs should evaluate the following points

  • In order to set a robust pharma serialization system in place, CDMOs should equip their task force with the technical knowledge and details of serialization hardware and software beforehand.
  • Making use of advanced technological applications like Big Data, Cloud, Internet of Things (IoT), advanced analytics, or enterprise-level software, like Microsoft’s Dynamics 365 line will help CDMOs in maintaining and monitoring their database for various clients. They should have no problems managing multiple production lines while serializing drugs for different clients.
  • Investing in the right partner, with experts that understand and cater to diverse global and local pharmaceutical rules and regulations will prove hugely beneficial for CDMOs in their pharmaceutical serialization track & trace journey.
  • As a vendor, it’s important for CDMOs to maintain two-way communication with all parties involved, including the pharmaceutical companies, dealers, wholesalers, packagers, transporters, etc. This will help them maintain transparency at every level of serialization and aid in avoiding recalls or stock-outs.
  • CDMOs can benefit greatly by developing flexible templates for their serialization solutions. These templates would serve as a blueprint for any pharmaceutical client, while the flexibility in the template would allow a CDMO to make tweaks in the process to meet the client’s requirements. This saves time, effort, and cost.

Final Thoughts

While drug serialization can create a number of different challenges for CDMOs, it’s also an opportunity for an organization to display technological dominance. Regardless, with the right team and solution in place, CDMOs should have no problems managing any challenge they come against.

Microsoft’s Dynamics 365 suite of solutions offers Pharmaceutical companies a powerful solution, and a means to track serialization along with handling customer onboarding, lot traceability, and toll manufacturing processes, from start to finish.

  • As pharmaceutical companies are required to strictly follow serialization regulations to combat counterfeiting, theft, and more, these companies are partnering with CDMOs for better serialization and to establish a more efficient supply chain.
  • Serialization requirements for pharmaceuticals pose many technical and skill-based challenges and CDMOs worldwide are constantly looking for more efficient ways to handle these challenges, investing in the right partner can make a big difference.
  • With the help of cutting-edge applications, a skilled team, and a systematic approach towards serialization, CDMOs can establish themselves as leading end-to-end manufacturing and distribution partners for leading pharmaceutical companies.

About XcelPros

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.

Call us toll-free – 1.855.411.0585 (or) visit www.xcelpros.com

procurement in pharmaceutical industry

Reshaping Procurement within Pharmaceutical Supply Chain

Reshaping Procurement within Pharmaceutical Supply Chain 1500 800 Xcelpros Team

Procurement in the Pharmaceutical Industry

The procurement of raw materials in any Pharma manufacturing company is the source of inventory. An established method to improve visibility, track and trace product quality is a must, regardless of a manual, electronic, or a hybrid purchase to pay process. With the continued impact of COVID-19, approval criteria for Procurement in the pharmaceutical industry is scrutinized further. Businesses have become more cautious of raw material/services spend. Many companies are evaluating different suppliers who can fulfill their requirements at a lower cost, with attention to overall spend and quality requirements.

A robust supply chain management system is needed to

  • to manage on-hand inventory
  • build a more reliable end-to-end pharmaceutical supply chain 

What are some considerations while revisiting purchasing functions?

This question throws light on companies’ need to organize their buying process, include more visibility for senior management, and increased traceability of purchasing transactions for streamlining pharma procurement. A comprehensive supply chain management solution with low-code and customizable workflows to modernize the pharmaceutical procurement process will be a value add to improve procurement processes.

Figure 1Checklists to Turn Your Supply Chain More Efficient

Businesses can benefit through a supply chain management system with advanced procurement processes to help accomplish the below objectives:

01.Ensure Compliance:

Failure in quality compliance can result in hefty penalties and jeopardize customer trust. Especially when activities such as buying from approved vendors or segregation of duties between the buyer and invoicer are compromised. Your procurement management system should provide the ability to perform required audits with controls and enable only authorized users to perform their appropriate functions. Ultimately a pharmaceutical supply chain management system needs to remain 21 CFR part 11 compliant and cutting corners can be extremely risky for a pharma company.

02.Support Strategic Vision:

Successful Life-Sciences companies focus on strategic planning and development to boost their bottom line. Any modern supply chain management system should help an organization achieve its strategic goals. Functions like a well-streamlined buying process are possible with spend analytics, derived from multiple dimensions of purchase transactions. Factors such as success rate of higher quality materials from approved suppliers, competitive pricing details, and gauging on-time in-full from preferred suppliers are a few key analytics that can help improve decision-making within the purchasing department and organization to meet their goals.

03.Effective Supplier Relationship Management:

Long-lasting supplier relationships are crucial to procuring higher quality products at the lowest prices. A stronger relationship with a familiar supplier is far more effective than continually switching vendors to lower costs. Changing suppliers places an additional burden on the entire ecosystem as suppliers put a lot of effort into understanding your business needs over time, including feedback on the quality of raw materials purchased and the speed of shipments delivered, allowing them to make any necessary corrections to their processes. A supply chain management system that supports collaboration, in such cases, helps integrate suppliers as partners to add value to the overall supply chain process.

Figure 2Supplier Relationship Management

04.Reduce Operational Costs:

Buyers or purchasing managers should be able to quickly analyze products offered by various suppliers spread across multiple geographical locations to secure the best pricing and reduce expenses.

The right kind of solution should eliminate wasteful spend – a critical factor in calculating the performance of any organization

A detailed view of supplier insights can help make decisions while identifying the best supplier for various materials. Identifying solutions to balance the cost and quality of purchased materials can help significantly reduce operational overhead without compromising on any KPIs of pharma procurement. Result-oriented companies in the Life sciences industry should have a well thought out method in place to manage procurement functions allowing them to maintain highly competitive prices without compromising the quality of a lot.

Figure 3 Better tools for modern supply chain management

Improving Organizational Efficiency is Your Key Metric:

Streamlining procurement in the supply chain, as well as identifying all possible failure points in your workflows, can significantly improve your organizational efficiency and increase the overall performance of the business. Every organization requires the ability to identify areas of their business that need improvement. Enhancing procurement in the supply chain directly affects the utilization of materials and labor appropriately, without compromising quality or cost. Optimizing resource time and inventory management together increases efficiency. A well-planned purchasing procedure will make it easy to show incremental results on crucial analytics, such as vendor performance/ spend analysis.

The Ideal System

  • Helps organizations streamline their pharma procurement process and get deep visibility into product inventory.
  • Easily and quickly Identify product/service needs and procure products, post receipts, invoices, and payments through included procurement and sourcing management modules.
  • Define purchasing policies and workflows to configure procurement processes that meet your business needs.
  • Manage product catalogs and procurement channels based on demand and vendor pricing and capabilities.
  • Define spending limits to constrain requisition spending and the purchasing workflow.
  • Protects the privacy of business and customers.

Procurement management 2.0 – Revamping technology

Any advancement in market dynamics has a direct impact on the buyer’s journey. Because of this, the need for procurement department heads to play more strategic and tech-enabled roles increases significantly. Early life-sciences procurement departments had only two primary objectives, cost reduction, and risk mitigation. Now, digital technologies have revolutionized procurement in the supply chain in companies to expand focus into different areas like efficiency, accessibility, sustainability, and metrics for generating better purchasing decisions.

In the five years immediately following the
2008 global financial crisis (GFC), total return to shareholders (TRS) for companies with top-quartile procurement capabilities was 42 percent higher than for companies whose procurement operations were in the bottom quartile.
Source: Mckinsey

To stay on top, companies must move out of the traditional buyer mindset and deliver value to businesses by keeping their procurement teams collaborative with their suppliers, both internally, driving productivity and increasing savings, and externally to maintain better supplier relationships and reduce unnecessary supply chain risks.

As technology continues to advance, the new-age applications have added strengths within the pharmaceutical supply chain that can promote business functioning.

01.Cloud-Based Platforms:

Moving Procurement to the cloud enables life-science organizations to operate with more agility, with benefits including enhanced collaboration, security, and data privacy. A growing number of traditional enterprises are already embracing the cloud capabilities to accelerate their businesses. Buyers can be a lot more agile at moving materials through the supply chain if they’re managing procurement functions on the cloud. Embracing portals and well-defined workflows allows better engagement with suppliers, allowing the acceleration of tasks and to-dos like Requests for Quote (RFQs).

Gartner reports that the procurement industry has an anticipated growth of up to 3.2 billion dollars by the end of 2020, fueling the cloud-procurement sector.

02.Data Analytics:

Adopting an analytically-driven approach might not be revolutionary, but it’s certainly an evolution for pharma procurement management that we know today. The significant challenges that organizations face today are majorly related to a lack of visibility.

A survey by Deloitte Global CPO showed that analytics would play a significant part in shaping the procurement in the supply chain over the next two years. As per the study, the respondents use analytics in different ways.

50%for Cost optimization

45% for Management reporting

48%for process improvement

As procurement departments’ spend-vs-quality goal is often to exceed expectations for their business, turning to integrated analytics can offer innovative solutions to enable efficient resolution of on-going buyer challenges. For best results, these teams need analytics as a core function in their decision-making process instead of treating it like a checklist submission to management. With the right reporting and analytics, Life-Sciences companies should have an easy preview of the quality of raw materials per supplier. Categorizing suppliers into the proper buckets based on supplier evaluation criteria or consuming specific lots based on customer potency/quality requirements helps make better purchasing decisions.

03.Enhancing Collaboration:

The previous decade has seen a relatively large shift in procurement-based technology, with solutions moving from on-premise to completely collaborative cloud-platforms. The initial extension of legacy ERP software systems, which included purchasing modules in the 1990s, has now evolved to easily accessible systems with enhanced collaboration and procure-to-pay solutions.

As businesspeople started exploring the pharmaceutical Procurement process further, the focus is moving to niche functions like strategic sourcing, asset acquisition, and others. These standalone technological products did nothing to solve a significant challenge – collaboration. Integrated tools such as Microsoft Flow integrated with Microsoft Teams are providing seamless collaboration between buyers and suppliers.

04. Mobility

The demand for mobile devices continues a steady rise, with the increasing population of millennials entering the workforce. Deloitte predicts that nearly 42% of companies invest in mobile phone technologies to support their procurement strategies, meaning mobile devices should now be considered an integral part of every procurement strategy going forward. With the help of the cloud and mobile-enabled services, companies can better manage their operations and analyze real-time functions and processes, leading to more proactive decision making.

The Role of Microsoft Dynamics 365 Supply Chain

Microsoft Dynamics 365 Supply Chain helps organizations streamline their procurement process and get deep visibility into product inventory –

  • Easily and quickly Identify product/service needs and procure products, post receipts, invoices, and payments through included procurement and sourcing management modules.
  • Define purchasing policies and workflows to configure procurement processes that meet your business needs.
  • Manage product catalogs and procurement channels based on demand and vendor pricing and capabilities.
  • Define spending limits to constrain requisition spending and the purchasing workflow.

Figure 4 Optimize your supply chain with Dynamics 365

Key Takeaways

  • Modern Pharma & Life sciences companies have digitized their operations, and processes within the Procurement department, to help streamline the buying process.
  • Advanced digital approaches such as using Microsoft Dynamics 365 Supply Chain or Automating the pharmaceutical Procurement process can help accomplish the goal of well-stabilized procure-to-pay cycles.
  • A revamp in the Microsoft ecosystem’s overall procurement process enables life-sciences companies to identify and eliminate inefficient, time-intensive aspects.

About XcelPros

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.

Call us toll-free – 1.855.411.0585 (or) visit www.xcelpros.com