Raising cost of drug development, reduced patent protection, and stringent regulation initiatives by FDA, are the major global challenges of pharma companies. Effective asset management is one of the key elements to be addressed in the pharmaceutical mro industry.
Unlike other industrial maintenance managers of a pharmaceutical industry must meet the requirements set forth by regulatory agencies like FDA, if not the organization has to face severe consequences like fines, plant closings, and lost revenue.
Asset performance management is very important and becomes a part of organizations’ strategic planning in the pharmaceutical industry. Being a heavily regulated MRO industry a robust computerized asset performance management system is a must that provides real-time visibility into the state of their assets, spare parts, and processes across all locations. This visibility reduces repetitive work orders, unnecessary purchasing, and can help for successful FDA inspections. Our asset management and supply chain optimization services help to automate maintenance, procurement, and support services. The automation helps error-free asset performance monitoring maintenance scheduling, work order management, procurement process further enhances planning and forecasting accuracy. The accurate data helps to comply with the regulations.
Pharmaceutical manufacturers and their suppliers can optimize their supply chains through the expansion and evolution of the MRO supply chain. For manufacturers who lack in-house MRO optimization expertise, the resulting complexity can be challenging in an asset-intensive industry like Pharma. In the pharmaceutical industry, OptimizMRO offers a range of maintenance solutions, including Master Data Excellence, Inventory Optimization, Master Data Governance, Reliability Services, and Asset Management, to help clients keep maintenance costs under control, improve plant uptime, and mitigate risks. Pharma companies are constantly seeking ways to save on indirect material spend and improve their procurement processes without increasing risks unnecessarily. Organizations are often driven to adopt better procurement management to save costs and remain competitive by the dynamic marketplace. In addition, it is crucial that they don’t overstock inventory, which takes up room and money, which causes a plant to be down due to a poor maintenance strategy.