ERP refers to Enterprise Resource Planning and has always been crucial to a Company’s Success. However, ERP can be associated with the pillars of any running company like Human Resource Management, Marketing, Supply Chain Management, etc. According to the market research, by 2020, 4 out of every 10 large companies will have 60% of their ERP resources on Cloud. Now, with that being said, let me elaborate on two keywords ERP and Cloud. ERP basically includes Software Modules being used by a company often as a replacement of the preexisting legacy Software and to improve scalability and usability of the software. With that being said, Company could deploy manual servers for using with their ERP products, but in an age where ‘data is the new Oil’, companies have always chosen to scale up in a cost-effective budget. This is where, Cloud based ERP solutions come to picture, where companies proceed with a ‘pay as you go’ model , where the entire infrastructure deployed on the cloud can be scaled up accordingly quickly at just an added subscription price, which eliminates the price of physical new servers.
Now, after bringing the essence of ERP and cloud in limelight, let’s see how the two can produce great results for a pharmaceutical industry for example. With the ever-changing and competitive Healthcare domain in a world of digitalization, customers have always been demanding for a faster solution to their medic problems at the best prices. Thus, to address this ever growing pace, pharmaceutical companies need to work smartly and efficiently. According to a Case study, Mega Life sciences, a leading Pharmaceutical company uses ORION ERP for smoother and faster delivery of products after struggling with their legacy based ERP Software. Few other ERP Software Modules worth googling include Microsoft Dynamics, QAD, Batch Master Manufacturing, Sage, etc.
Some of the key benefits of Cloud Based ERP in Pharma industries include:
Medicinal Recipe Management: With the advent of cloud based ERP, it has become easier to check, buy and manage all the key Ingredients required for Preparation of Medicines. Some of the advantages could be: 1. Continuous Price check of the ingredients required and comparison with the Market value 2. Efficient Management of vendors responsible for delivering the ingredients 3. Efficient Budget allocation and Resource management while ordering the ingredients Marketing/Sales Management: Sales and Marketing too get effected and scale up their operations with an efficiently deployed ERP in the following ways: 1. Efficient amount of resources and employees used in Sales/Marketing. 2. Creation of effective Quotations based on customer purchase patterns 3. Automatic Migration of order to sales order 4. Automation of Workflows can be easily implemented in a cloud based ERP Model .
Distribution Management: Effective Distribution of products (Medicines) can be handled judiciously, tracked and deployed in this manner, which can help keep a check on headcount of labors in each distribution as well as the overall cost involved.
Inventory Management: Needless, to say such well-organized system can also keep a track of the Company’s Inventory which can include raw materials, finished products , lab machineries, employees assigned to each stage of production process, Transportation
Vehicles, etc. which can help to manage cost, resource and time essential to a successful business model.
Thus, Cloud based ERP Solution has always proven to be setting a strong foundation of any successful business model irrespective of the type of Industry. With the advent of smart and
Demanding Customers, companies should play smarter with the aim of delivering maximum in a limited time with limited resources, and Cloud Based ERP is one primary step towards hitting that target.
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