Based on our experience with life sciences firms, this industry has unique needs that are not effectively addressed by all enterprise software vendors. FDA compliance, product configuration, and lot traceability are just a few of the challenges that make the life sciences industry unique.
Below are some of the factors we tend to focus on when evaluating ERP, MRP, and other enterprise software for our clients in the life sciences industry.
Key Features for Life Sciences Enterprise Software
- Multi-level bill of materials
- Recipe and formula management
- Lot tracking and lot property management
- Serial number tracking
- Warranty tracking
- Recall management
- Business intelligence
- Ad hoc reporting
- Electronic signatures
- Audit control
Not all enterprise software solutions are able to handle these complex requirements, so it is important to conduct an enterprise software evaluation that objectively compares potential vendors’ ability to meet these needs. Companies that fail to select software that can handle some of these complexities often end up spending significant amounts of money on software customization, manual process workarounds, and sub-optimized business benefits.
To better understand potential options of enterprise software solutions in the space, you may be interested in viewing our comparison list of leading enterprise and ERP software solutions for the life sciences industry. Our 2008 ERP Report also outlines leading ERP solutions and implementation results for manufacturers and distributors, including those in the life sciences industry.
Finding the enterprise software that best fits your unique needs is the first step toward an effective ERP initiative with a strong return on investment.