The challenges faced by the pharmaceutical industry in Penang, Malaysia

Penang, Malaysia is home to the pharmaceutical sector that deals with a set of challenges that are unique and are only exclusive to it. Companies have to deal with regulatory compliance that is particularly stringent, which requires them to navigate the rules of the land that could be very different across the borders. Unlike many sectors, they have to pass their tests as a result of the safety and effectiveness of the product which are the very high stakes involved in their case. Moreover, the complex interplay of intellectual property rights and patent protection of R&D investments is a special situation that is difficult to understand. Also, the most common challenge that other industries share with the business of a supply chain, is faced by the pharmaceutical firms, which is mainly because of the exact quality control and sensitive shipping. Worker shortages and rising operating expenses are also the issues that the pharmaceutical industry is struggling with along with other industries in Penang, Malaysia.

Improving Operations Using ERP Systems

Enterprise resource planning (ERP) systems are introduced to help pharmaceutical firms deal with these challenges. They are the queue reducer by ensuring that each thing is traced back to its origin and documented in one system. The fact that the organizations in the pharma sector can just have the necessary documentation to adapt to unclear regulations in a matter of hours is a plus point. As well as that, organizations align their supply chain with ERP after improving system visibility, the biggest pressure point in supply chain management is obviated. The integration of AI agents into these systems adds a layer of predictive analytics, enabling businesses to anticipate market demands and efficiently manage resources.

Moreso, the advent of artificial intelligence in ERP systems provides firms with new avenues for reengineering their business procedures. Thus customization helps them to comply with specific regulatory measures and to optimize the internal flow of work without needing much programming. The agility and flexibility that come with these systems are not to be taken for granted in the constantly changing environmental conditions in the pharmaceutical industry.

Blueprints for a Successful ERP Deployment

There is a need for the systematic approach of laying groundwork and implementation to merge an ERP system with the other departments of the organization. It is a good idea for firms in Penang Malaysia to begin this process with a needs assessment and root cause analysis to identify the specific issues facing them to ensure the software is tailored to fit the business. It is important to engage all the actors required from all the departments to the integration of the system and to the formation of the perception of the reception of the technology change.
Because of the fact that a single issue is the root cause of many problems, every department must be engaged in order to alleviate them. It is better to do just one phase at a time that is slow but sure, as you can implement small changes one at a time and it will reduce the risk of derailing the whole plan. The training that is designed will help focus attention on utilizing the full range of capabilities the ERP system has to offer which, in turn, will lead to more resilient and responsive operations.

Multiable ERP: Features Tailored to Pharmaceutical Needs

• Custom Algorithm for Ever-Changing Regulations: Ensures compliance with the latest legal standards effortlessly.

• Automatic Logistics Service Provider (LSP) Selection by AI: Optimizes supply chain efficiency, reducing time and cost while enhancing reliability.

• Lot/Serial Number Control: Crucial for maintaining quality and traceability across the supply chain, ensuring product safety and compliance.

• Role-Based Document Management System: Facilitates efficient compliance documentation and accessibility, improving audit readiness.

• Unlimited Warehouses: Enhances inventory management capabilities, crucial for meeting demand fluctuations and ensuring supply chain continuity.

Leveraging E-Invoicing with Multiable

Multiable additionally supports these pharmaceutical firms by offering electronic invoicing solutions which are in line with the required stipulations of the Inland Revenue Board of Malaysia (IRBM). What makes Multiable stand out from other providers is that they offer their e-invoicing API calls on a free-of-charge basis for all clients on SaaS subscriptions or contracts that are secured by software assurance plans. This feature not only simplifies the financial process but also eliminates many operational bottlenecks that the products of the firm enjoy thus, providing them with a real advanta.

What is Multiable ERP?

Multiable ERP is a cloud-native ERP widely adopted by business in Singapore, Malaysia, Hong Kong and China. With over 6,000 customers in the region, Multiable ERP gains positive feedbacks from customer across different sectors, from manufacturers, distributors, retailers, service providers to NGOs. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an ERP system in place.