The pharmaceutical business is a fierce environment with ever-increasing responsibility, demand for quality, and competition. Medication production is certainly a profitable niche, however, the manufacturers need to meet tons of requirements regarding the quality of their produce, regulatory compliances (global and local), and precision of the recipes.
Pharmaceuticals, like no other sector, require automation, flawless production line performance, and seamless communication between all the departments. In the tech-based manufacturing industry, such dependencies are handled with the help of multi-faceted ERP systems, like Odoo. Let’s explore how Odoo ERP can streamline your pharmaceutical production.
What Is Odoo?
Odoo is a highly customizable open-source solution that consists of various dedicated modules related to customer relationship management, E-commerce, billing, accounting, warehouse management, inventory management, and project management.
Odoo software performs as a panel of control with the possibility to add third-party integrations depending on the company’s needs and plans for extension. One of the best features of Odoo is its flexibility, as it is possible to scale up or down the structure depending on the current conditions.
How Can Odoo Benefit Pharmaceuticals?
The pharmaceutical industry is built on highly complex and intricate production; Odoo is the software that provides all the tech foundation for it.
1. Regulatory compliance
One of the biggest challenges for pharmaceutical businesses is the laws and guidelines to comply with. Apart from global protocols, there are also local regulations to follow to ensure the utmost quality of the medications.
Odoo ERP allows businesses to implement and control the industry regulations across the manufacturing process and further distribution of the products. Furthermore, Odoo automates the manufacturing practices and all the paperwork, thus, minimizing the risks of mistakes.
2. Precise inventory management
Pharmaceuticals deal with a vast inventory of medicines. All of them feature different batch numbers, storage requirements, and expiration dates. Ill-managed storage leads to stock discrepancies, past-shelf-life medicines, and delayed deliveries.
Odoo, however, changes the situation. It provides real-time visibility into inventory stocks, tracks the shelf life and expiry date of the medicines, enables accurate stock management, and helps to optimize procurement and fulfillment processes.
3. Customization
There are no companies alike, each features a unique structure and approach to management and performance.
Odoo ERP is a good fit for any company regardless of its structure, form of management, or manufacturing specialties. Its high adaptability is based on its highly customizable nature. However, the full potential of Odoo can only be reached when it is installed and implemented by skilled developers, who have a proven track of similar successful projects, like VentorTech.
VentorTech is one of the trailblazers of Odoo ERP implementation. The teams of developers possess a profound knowledge of the industry and can handle any request regarding the company’s successful performance with Odoo ERP.
If you require a better understanding of Odoo benefits for your pharmaceutical business, make sure you contact VentorTech specialists (https://ventor.tech/services/odoo/) for further advice and guidance.
4. Product traceability
Traceability is the foundation of quality and control. All the materials and finished products are assigned certain lot and batch numbers, which allows workers to trace their movement along the supply chain. Moreover, it simplifies the process of product recalls (although undesirable, but inevitable process). The workers can simply track the route of certain materials, or medication and recall them accordingly if there are discrepancies in ingredients or quality violations.
5. Reports and analytics
Pharmaceuticals, like any other business, heavily rely on reports regarding the quality of their performance.
With Odoo ERP the reports are generated automatically on-demand or with a certain frequency. It allows manufacturers to keep track of production 24/7, as well as anticipate the risks of errors and prevent them from happening.
6. Multi-location control
Oftentimes, pharmaceutical companies feature scattered locations, each responsible for certain types of medication. All of them, however, require a unified system of management and control, to make all the processes co-agreed and streamlined.
Odoo provides a comprehensive view of the multiple locations, including manufacturing, packing, shipping, and all the updates on the order status. With Odoo, the control is available from a single platform, which elevates the efficiency of all interactions and optimizes decision-making time.
Odoo ERP is a valuable software for pharmaceutical companies, as its tools allow them to re-organize and re-structure the business’s environment establishing visibility and transparency across all the departments. Odoo ERP benefits the manufacturing process, providing end-to-end visibility, inventory management, expiry date control, etc.
Whether you are the owner of a pharmaceutical company facing logistics and manufacturing discrepancies, or simply plan to start a business in pharmaceuticals – don’t hesitate to build the fully digitized company’s architecture with the help of Odoo ERP and VentorTech experts.