How Pharmaceutical Wholesalers Can Use an ERP to Improve Their Business

Running a pharmaceutical wholesaler is becoming steadily more complex, given everything required around stock management, compliance with GDP (Good Distribution Practice) and everything else that has to be handled day to day. This is why it matters that pharmaceutical wholesalers choose the right business software, or ERP system.

Below is how choosing the right business software can improve any pharmaceutical wholesaler's operation:

1. Efficient stock control

Perhaps the single biggest challenge pharmaceutical wholesalers face is controlling stock efficiently. It is made harder still by the need to track most items by batch, expiry date and manufacturer. Good business software should give you an accurate view of stock, and let you see the position of particular items by batch and expiry quickly. Being able to see at a glance which items are close to expiry matters especially.

Efficient stock control:

• reduces storage costs

• reduces the volume of stock sitting unused for long periods

• makes decisions about future purchasing easier through good reporting

2. A straightforward purchasing process

The purchasing process should be straightforward, with full traceability across every document from the purchase order through the goods receipt and delivery note to the invoice. Reducing the scope for error here as far as possible matters, because it does a great deal to build trust with customers — which is particularly significant when those customers are healthcare institutions.

A straightforward purchasing process gives you:

• Orders created quickly

• Fewer mistakes when ordering

• Better estimates of delivery dates to your customers

3. Better traceability of delivered items and compliance with the regulations

Complying with all the regulations is a given for any company, and it matters especially for pharmaceutical wholesalers. Business software should provide an efficient way to trace an item from the moment it is received to the point it is delivered to the client. This is very important when it comes to recalling particular batches, or all items from a given manufacturer. Beyond that, a transparent traceability process lets pharmaceutical wholesalers demonstrate that their operation complies with every requirement, which can matter during the various inspections that may arise during the year.

Better traceability of delivered items gives you:

• Fast recall of items with particular batches and expiry dates

• Production of all the documentation confirming that items have been recalled

• Compliance with every regulation

4. Efficient financial management

Efficient financial management matters to every business, pharmaceutical wholesalers included. What is important is that the finance module sits within the ERP solution and allows accurate tracking of costs, revenue and profit. It also matters that every document can be posted easily and that all information is entered in one place only. Ultimately, good financial management leads to better business decisions.

Efficient financial management gives you:

• A constant, daily view of how the business is doing

• Deadlines met on every report you have to file during the year

• Stock and financial records that reconcile

5. Good reporting

Good reporting matters both for stock control and for finance. Pharmaceutical wholesalers can analyse sales trends, follow stock movement and spot opportunities to save in particular processes, as well as improvements to the business generally.

Good reporting gives you:

• A quick view of the headline numbers

• Easy production of reports on any aspect of the business you want to analyse

• Better business decisions.

6. Efficient handling of contracts won through tender

Once a tender is won, you can activate the staggered delivery option in the software, which automatically pulls in the contracted price and payment terms and shows the quantities remaining

Beyond that, it helps if the ERP can issue login credentials to customers so they can create purchase orders themselves against the agreed contract and see stock levels.

Efficient handling of contracts won through tender gives you:

• Greater profitability on the work you win

• Less time spent tracking delivery

• Higher client satisfaction

Thinking about business software for your pharmaceutical wholesale operation?

See how TiramisuERP can help you improve your business.

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