Pharmaceutical companies have their hands full when it comes to managing their inventory, manufacturing medication, working with vendors, and more. It helps to have manufacturing software that you are able to rely on to automate some of your business processes so you can concentrate on other aspects of your business that require your attention. Managing inventory does not have to be an insurmountable task that can only be done by a select few in an organization. You will have everything you need to handle your inventory management and manufacturing with the aid of Fishbowl Manufacturing.
Let’s go through some of the ways that Fishbowl helps pharmaceutical companies stay on top of their assets, raw materials, finished products, and other key parts of their operations.
A HEALTHY DOSE
Doctors require exact measurements of medications to safely assist their patients. Too much of a drug can cause serious harm to a person while too little of a drug will likely lack the potency needed to be effective. Each pill needs to be the exact specification it purports to be. The same is true of manufacturing and inventory management.
You don’t want to hold onto too many raw materials, nor do you want to manufacture more finished goods than you need. Both of those options will lead to unnecessarily high carrying costs and possibly even decay as perishable items reach their expiration dates before they get sold. On the other hand, too few raw materials may lead to delays in manufacturing and other problems, such as lost opportunities for sales.
You want to reach a healthy dose of incoming and outgoing inventory, and the way to do that is to use Fishbowl Manufacturing. It lets you run reports to spot seasonal trends and plan for product lifecycles and other factors. In addition, you can set up auto reorder points on your inventory items so that as soon as an item falls to a certain level, you will be able to reorder it to avoid running out. You can also perform cycle counts on a regular basis to ensure your inventory quantities are accurate.
PROCURE THE RIGHT MATERIALS
You can work with multiple vendors in Fishbowl Manufacturing to help you procure the right items to refill your stock. Vendors can even be assigned to specific goods so that you always know exactly who to reorder from. When a product reaches its auto reorder point, Fishbowl Manufacturing will generate a purchase order, which already has the assigned vendor and a predetermined quantity. This saves you a few steps and makes the reordering process that much easier.
HARD PILL TO SWALLOW
The pharmaceutical industry is heavily regulated by the federal government, and so it is important for companies in this industry to have the right tools to track their inventory each step of the way on the production line. If there are any product recalls or other problems down the line, you can use Fishbowl’s manufacturing software to hunt down the step where the fault lies and you may even be able to find the user responsible for it.
This should be a learning opportunity and a chance to improve your company’s overall production process and help employees learn from their mistakes. And all of this helps you to stay in compliance with government regulations, which would otherwise be a hard pill to swallow.
Put a lot of care into your inventory management and manufacturing processes by using Fishbowl Manufacturing to assist you with them. No one knows your business better than you do. You shouldn’t have to spend hours and hours focusing on your inventory when what you really want to be doing is what you are best at: manufacturing the best medication for your customers.
Think of Fishbowl Manufacturing as your assistant who you can rely on to do menial tasks on your behalf. Lift a great weight from off of your shoulder and put it on Fishbowl Manufacturing by saving work orders and bills of materials for future use, using production stages, and assigning users to specific jobs in the manufacturing process.
PAIN-FREE INVENTORY MANAGEMENT
Eliminate the pain of inventory management and manufacturing by using Fishbowl Manufacturing to do a lot of the heavy lifting. It can handle most of the logistical side of your business while you are free to get down to business and start doing what you do best. Sign up for a free trial by clicking the link below.
Pharmaceutical companies can use manufacturing software to study seasonal sales trends, perform cycle counts, set up auto reorder points on materials, work with vendors, manage multiple locations, locate problems in the manufacturing process, comply with government regulations, and boost efficiency. It’s an invaluable tool.