Why Pharmaceutical Industry Needs PLM

The achievements of the modern pharmaceutical industry help save thousands of lives every day. Significant steps in biopharmaceutical research have allowed for reductions in mortality. But the events of recent years have put severe pressure on the entire industry and forced companies to face fundamental problems.

In this article, we discuss the state of the modern pharmaceutical industry, consider the benefits of PLM software for the pharmacy business, and learn how companies can leverage intelligent networking to succeed.

Challenges That Pharmaceutical Industry Face Today

No single source for product data

A company needs to collect all the available data to provide high-level services. Without a single source of truth, this process may require extra time. Meanwhile, product data may lose relevance, thus reducing the effectiveness of decision-making at all management levels.

Information exchange

Full-cycle drug manufacturing requires close collaboration among various interrelated activities and constant data exchange across all the involved parties. Producing medical products involve multiple manufacturing steps, from scaling and validation to final approval, and real-time data exchange ensures high-quality control of manufactured products.

Risk and quality management

Lack of relevant data causes another issue for many pharmaceutical businesses — predicting risks and managing product quality. Enhanced product quality management involves incorporating and managing quality throughout the product development and marketing processes.

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Packaging

Pharmaceutical packaging is one of the multiple aspects that are strictly regulated. Pharmaceutical companies must comply with numerous regulatory and language requirements and put efforts into the fight against counterfeit products.

Development and production of advanced therapies 

Cell and gene therapy pipelines that have become prevalent nowadays constantly require new methods and real-time analytics to ensure the efficiency and predictability of the process. Manufacturers need an end-to-end linked bioprocess to create a single base for all packaging components, considering all regulatory requirements.  

Why Do Pharmaceutical Businesses Need a PLM System?

A product lifecycle management system is software that can help you improve the following indicators:

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  • Reduce design and production time
  • Minimize errors
  • Strengthen quality control and improve customer satisfaction
  • Сut costs
  • Speed up time to market
  • Maintain the intellectual property of the enterprise
  • Provide data to the EMS/ERP systems

Moreover, this software helps companies monitor financial performance and increase competitiveness using tools for effective product management.

How Can PLM Systems Help Pharma Companies?

By integrating a PLM system with a recipe development system, pharmaceutical companies can do the following:

  1. Ensure standardization and quality

Standardization and quality are crucial for the pharma industry. Companies must ensure high product quality while reducing material costs.

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  1. Optimize product development processes

A PLM system helps companies streamline product development processes and align them with project goals and market needs.

  1. Improve collaboration

A PLM solution can create a collaborative environment, ensuring efficient collaboration between you and your suppliers and partners and involving them in the development process.

In a Nutshell 

Nowadays, PLM systems have various prospects for development. It can help businesses build an automated, connected, and streamlined environment fully compliant with Industry 4.0 principles. Becoming an integral part of Industry 4.0, a PLM system helps manage a product from scratch to launch.

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