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Why Pharma Manufacturers Need ERP Beyond Just Accounting?

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Why Accounting Software Falls Short in Pharma Manufacturing The pharmaceutical industry encompasses a wide range of operations such as drug formulation, inventory and supply chain management, lot traceability, costing, and more. Each of these operations needs to be performed under strict regulatory compliance. And in such a scenario, it becomes essential for companies not to manage all these operations manually or using spreadsheets. To ease these operational hurdles, various pharma manufacturers opt for accounting software. However, such tools primarily address financial needs and fall short of mitigating the operational risks inherent in manufacturing. An ideal solution to these challenges is a dedicated ERP for pharmaceutical industry , which can improve the overall operations right from formula creation to the complete manufacturing lifecycle of a product until it becomes a finished good. This blog talks about why accounting software falls short in managing pharmaceutical o...
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Track the Essential Logistics KPIs to Improve Business Processes

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Logistics Key Performance Indicators Logistics KPIs, or Logistics Key Performance Indicators , are measurable metrics used to evaluate the performance and effectiveness of logistics operations in a business. They help track logistics processes' efficiency, productivity, and overall success. KPIs allow businesses to compare their performance against industry benchmarks. It enables them to improve operations while addressing challenges and reducing costs. Here are some commonly used logistics KPIs explained in simple terms: On-time delivery: This KPI measures the percentage of shipments or orders delivered on time. It helps assess the reliability and punctuality of logistics services. Order accuracy: This KPI tracks the accuracy of order fulfillment by measuring the percentage of complete and error-free orders. It ensures that the right products are delivered to the right customers. Inventory turnover: This KPI calculates how quickly inventory is sold and replaced within a specific p...
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Location: United States
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What are the advantages and disadvantages of ERP?

Enterprise Resource Planning  or ERP , is an essential business management software that companies of all sizes use. It is a centralized, companywide system that include core business functions such as accounting and financials, customer relationship management, inventory, and more. As a single business solution, ERP provides many operational and strategic benefits, from improving overall business productivity to streamlining end-to-end operations to providing a granular view of what is happening in the company. In today’s digital economy, Manufacturing ERPs are now the backbone of a company’s digital transformation/digitization. Here is the list of Benefits that ERP offers: Connects companywide functions, departments, and processes Promotes granular visibility across the organization Provides timely access to reliable business information no matter where you are Enables proper optimization of resources, whether machines, man or material Reduces business costs and increases profit...
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How is Cloud ERP Changing the Manufacturing Landscape?

  Cloud ERP connects manufacturing operations with disruptive technologies such as IIoT, Machine Learning, Artificial Intelligence, Blockchain and other pillars of Industry 4.0. Global manufacturers find cloud technology very crucial for their ERP strategy. So, what are the benefits that cloud offer to manufacturing sector and how is changing the manufacturing landscape.  Let’s see: Faster time to value: cloud enables quick implementation process with minimal complexity and less equipment. Grow your business without adding hardware. Mobility: cloud has made reporting, supervising and managing the operations very easy with real-time visibility, with no downtime for upgrades. Enhance agility: cloud enables next generation automation, collaboration and digital readiness. From tracking raw materials to using quality control checks,  Cloud ERP   offers many advantages including enhanced agility. Centralized data: access real-time data related to any business departme...
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What exactly is inventory management software?

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Inventory management software is a tool designed to track inventory levels, orders, sales, and deliveries. It tracks how much inventory you have in the warehouse management System , monitors stock at all the locations (on the shop floor, with subcontractors, etc.), and gives you visibility into where to store inventory, and when to order. Today, manufacturers prefer to invest in a cloud-based inventory management system that is well integrated within a business management solution such as ERP. Enterprise Resource Planning software (ERP) integrates all aspects of your business, from planning, and production to operations and dispatching. Let’s see how inventory management software embedded in an ERP system can help your manufacturing business.  Read on the functionality that Inventory Management Module offers in ERP software . 1. Inventory control 2. Inventory reports 3. Inventory audits 4. Direct shop shipment 5. ABC item analysis 6. Accurate forecasting Inventory Management Sy...
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What is the best Financial Management Software?

Financial Management Software is designed to manage, monitor, automate, evaluate and store financial information in an organization. However, other than financial operations, there are many other departments to manage and monitor. If we talk about the manufacturing industry, finance, procurement, sales, production, sales and marketing are a few primary departments that support business growth. So, it is better to choose business management software with an intuitive UI and UX that can improve business performance by integrating data. OptiProERP is end-to-end Enterprise Resource Planning software built on SAP Business One. Driven by a commitment to customer service, OptiProERP delivers best-in-class industry solutions. Let’s talk about its Finance Module. The software provides comprehensive financial management functionality, including: Accounting: automates accounting processes by managing journal entries, payables and more Controlling: manage cash flow and manage job costs accurately...
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What exactly is inventory management software?

What is Inventory Management Software? Inventory management software is a tool designed to track inventory levels, orders, sales, and deliveries. It tracks how much inventory you have in the warehouse, monitors stock at all the locations (on the shop floor, with subcontractors, etc.), and gives you visibility into where to store inventory, and when to order.  Today, manufacturers prefer to invest in a cloud-based inventory management system that is well integrated within a business management solution such as ERP . Enterprise Resource Planning software (ERP) integrates all aspects of your business, from planning, and production to operations and dispatching. Let’s see how inventory management software embedded in an ERP system can help your manufacturing business. Read on the functionality that Inventory Management Module offers in ERP software.  Inventory control  Inventory reports Inventory audits  Direct shop shipment  ABC item analysis  Accurate f...
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