At What Stage Does a Life Sciences Business Need an ERP Solution?

Life science businesses are fast-paced and require precision, speed, and maximum efficiency to thrive. The industry is filled with innovative trends to ensure new products hitting the market are competitive and efficient to meet customers’ needs.

Microbiologists, medical laboratory practitioners, and medical device manufacturers require new technologies and an optimum uptime to provide the best services. Hence, the industry must harness modern technologies that can continuously make the job easier. To achieve this, these businesses require the right tools. A robust ERP solution can help life sciences companies in many ways by centralizing and automating operational processes to enable business owners to focus on revenue-generating activities.

The big question on the lips of many life sciences business owners is, how does a life science business know when to incorporate an ERP solution? Integrating into an ERP solution about 12 months before a product is approved or launched is often recommended.

Benefits of implementing an ERP solution at the early stage

Many products are rolled out in the life sciences industry, especially in medical device production. Ensuring that your company has a stable and optimal ERP solution can go a long way in determining the success of your products and the entire business.

Compliance

An ERP solution would ensure adherence to industry standards, mainly when your solution includes a quality control function. ERP solutions may also provide preventive measures and corrective actions to ensure compliance with industry standards. Consultare has experience helping customers certify 21 CFR Part 11 with the FDA.

Management Support

ERP helps senior-level managers gather business intelligence, analytics, and reporting for proper planning, MRP, and forecasting business projections.

Scalability

An ERP solution is essential to smooth the transition into different technology phases without disrupting the business flow. Automation helps the company grow exponentially without adding headcount in administration.

Tracking

The life science supply chain can be complex, with multiple deliverables at different stages. An ERP solution is necessary for better visibility along all supply chain stages. With a suitable ERP solution, you can track and collate data along the supply chain while ensuring on-time delivery.

The great thing about ERP solutions is that they can be implemented at affordable prices. Small and large life sciences businesses can implement ERP solutions matching their functionality to ensure maximum efficiency and consistent business growth.

There is almost no reason why life sciences businesses should not get an ERP solution early on. An ERP solution can save your life sciences business time and cost and ensure that it remains a going concern. Speak with a specialist from Consultare on implementing an SAP Business One solution by filling out the form below or give us a call.

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