Managing a pharmaceutical company has its own set of challenges as it’s an increasingly complex and highly regulated industry. Besides, as new diseases, illnesses, and disorders are being discovered, pharma companies take all the heat. Today, as the whole world bears the brunt of a pandemic, these companies face tremendous pressure to develop an effective COVID-19 vaccine. In a nutshell, running diverse operations of a pharmaceutical company can be a back-breaking task and requires immense manpower. It gets even more complex as the company grows and expands to operate on a larger scale.
In such a convoluted operational ecosystem, the pharma companies must keep pace with the rapid technological advancements. Having said that, workflow automation has become a crucial component of the industry and the best way to achieve that is through custom ERP software development.
Odoo is an open-source business management platform that offers one of the finest software tools for custom ERP development. It is a comprehensive software suite that includes dedicated business modules for CRM, HRM, eCommerce, payroll/accounting, manufacturing, inventory, and warehousing management.
This blog post delineates how pharmaceutical companies can use Odoo ERP software development services to streamline their inbound/outbound operations.
Also read Custom ERP Application Development For Healthcare
The Significance of Odoo ERP For Pharmaceutical Industry
Odoo ERP software development can be increasingly beneficial for pharma companies as it enables automation at every level and significantly reduces human effort. As a result, these companies can focus on their core operations without getting into the complexities of traditional data processing strategies. Besides, the customization features in Odoo make it easy to integrate with any form of business application. Let’s move ahead and discuss the key features and benefits of an Odoo ERP application development.
Bill of Materials (BOM)
Preparing the bill of materials (BoM) is an indispensable part of the pharmaceutical manufacturing and production process. It is also imperative to efficiently drive the inventory and supply chain processes. Implementing Odoo ERP accelerates BOM generation while maintaining an efficient workflow with reduced human effort. In doing so, it automatically updates the required material quantity while manufacturing a batch of medicines or healthcare products.
Inventory/Warehouse Management
The process of inventory management is extremely crucial for the pharma industry and it must be handled with sheer accuracy. Pharmaceutical companies have to deal with all types of botanicals, herbs, and chemical substances. Some of these chemicals can be extremely delicate, volatile, or inflammable and may cause severe damage if not handled properly. It is, therefore, essential to have effective storage and tracking mechanism in place to handle raw materials and finished goods.
That said, Odoo provides a scalable, agile, and comprehensive inventory module to effectively manage the storage and movements of raw materials using specialized tools. It also offers advanced features to manage push and pull operations, inventory tracking, route tracing, and more while maintaining workflow efficiency.
Quality Control
Quality control is another crucial aspect of the pharmaceutical supply chain and the companies must conduct appropriate quality checks at all stages of manufacturing. The medicines they produce must match the quality standards and regulation procedures imposed by the government. More importantly, the medicines must be consumed within the expiration period. Above all, the companies must align their operations in adherence to the local laws and provide all necessary information about the manufacturing strategies.
Odoo ERP software development enables enterprises to conduct 360-degree quality checks at all stages of the product development lifecycle. It provides an automated system to enforce compliance with GxP and CRF to ensure improved quality of drugs and medicines. It also comes with IoT support and serial number functionality to speed up the inventory processing based on the date of manufacturing.
Improved Traceability
Odoo provides a scalable e-platform to manage diverse warehouse processes with a focus on effective tracking and traceability of various components. From the movement of raw materials to the processing of manufactured drugs, Odoo provides standalone modules to track and monitor diverse activities. Besides, it enables pharma companies to conduct hasslefree audits and keep track of on-site activities through a centralized software interface.
You may also be interested in reading New Features and Upgrades In Odoo 14
Wrapping Up
It’s quite evident that availing Odoo application development services can significantly reduce operational complexities while also saving overhead costs. Besides, it can unlock a host of other opportunities for pharmaceutical companies, enabling them to focus on their core operations. Another benefit of Odoo is the increased flexibility and ease of integration that makes it increasingly beneficial for pharma companies. In the coming years, we are expected to witness exponential growth in the adoption of Odoo ERP application development services.
Avail Our Odoo ERP Software Development and Customization Services
We are a 360-degree Odoo development company that specializes in building custom ERP applications to address cross-industry enterprise requirements. Our development team specializes in using the Odoo ERP suite to build enterprise-grade solutions that enhance overall business productivity. Our Odoo development services enable enterprises to streamline their mission-critical workflows with increased security, flexibility, and improved operational efficiency. For more information, contact us at [email protected].
