The purpose of this case study is to highlight the successful implementation of our ERP solution for a prominent pharma company based in Dubai. The client, one of the industry leaders in the pharma industry, faced numerous operational challenges that demanded an efficient ERP system to streamline their financial, inventory, purchase, sales, and vendor payment processes. The client is renowned for their extensive product portfolio and wide customer base.
The absence of an integrated ERP system was hindering their growth and causing inefficiencies across various business functions. Following are the major challenges they faced:
The client encountered difficulties in managing their financial operations. Key challenges included multi-currency payments, generating accurate aging reports, performing business rule checks for same-month cheques, and incorporating a cheque print option from payment vouchers. Furthermore, they required a collection forecast option to allocate marketing expenses and other costs to specific brands and customers.
The company struggled with inventory management processes, such as stock adjustment, physical stock taking, stock damage checking, stock coding, inventory accounting, inventory aging, batch expiry management, etc.
The sales process posed several issues, such as managing sales quotations, sales orders, proforma invoices, delivery orders, sales invoices, and sales returns efficiently.
Consignment Sales Process
The company encountered complexities in managing consignment sales, including consignment delivery notes (CGN), consignment delivery returns, consignment delivery damages, and consignment sales invoices (sales confirmations).
Vendor Payment Process
The client experienced difficulties in managing their vendor payment processes, specifically bank payment vouchers (PV), petty cash vouchers (PCV), tax debit notes (DN), PDC maturity postings, PDC maturity journals, and bank reconciliations.
To address the client’s myriad challenges, we implemented a comprehensive ERP solution (FactsERP) tailored to their specific requirements. The solution encompassed the following key modules:
FactsERP incorporated robust financial management features, including multi-currency payment capabilities, automated generation of accurate aging reports, business rule checks for same-month cheques, and a seamless cheque print option from payment vouchers. Additionally, the solution provided a collection forecast option to allocate marketing expenses and other costs to brands and customers.
Streamlined inventory management processes by introducing modules for stock adjustment vouchers, physical stock take, stock damage vouchers, stock coding, inventory costing methods, inventory accounting, inventory aging, stock master classification, batch expiry management, bin location in stock master, sample issuance to promoters/pharmacies, customer-wise price lists, customer-wise discount structures, FOC promotions, credit notes with items without stock impact, credit notes with accounts only, and cost of sales allocation to expense accounts. Furthermore, the system included barcode label printing capabilities for bundling purposes and comprehensive sales reports based on various parameters.
FactsERP incorporated an efficient purchase management module that automated the creation of purchase orders, goods receipt notes, purchase invoices, and purchase returns. This streamlined the procurement process and enhanced accuracy and efficiency.
The sales module in FactsERP addressed the challenges associated with sales quotations, sales orders, proforma invoices, delivery orders, sales invoices, and sales returns. It provided an integrated and streamlined sales process, improving order fulfillment and customer satisfaction.
To optimize consignment sales, we implemented a specialized module to manage consignment delivery notes, consignment delivery returns, consignment delivery damages, and consignment sales invoices. This module improved traceability and accountability in consignment transactions.
Vendor Payment Management Module
We included a vendor payment management module that streamlined bank payment vouchers, petty cash vouchers, tax debit notes, PDC maturity postings, PDC maturity journals, and bank reconciliations. This module enhanced transparency and accuracy in vendor payment processes.
The implementation of a comprehensive ERP solution transformed the operations of the leading pharma company in Dubai. By addressing the challenges in financial operations, inventory management, purchase process, sales process, consignment sales, and vendor payments, FactsERP enhanced efficiency, accuracy, and transparency across the organization. The successful implementation demonstrated the power of an integrated ERP solution in overcoming complex operational hurdles and positioning the company for sustained growth in a competitive industry.