2) Business Intelligence refers to technologies, applications and practices for the collection, integration, analysis, and presentation of business information. The purpose of Business Intelligence is to support better business decision making.
In Pharmaceutical sector, BI helps in various ways:
• Marketing and Sales analysis: With huge expenditure in their marketing efforts, companies have to track sales and performance and consumer behaviour for targeting their marketing strategies.
BI services help in identifying which products are performing better, monitor consumer behaviour in terms of prescription renewal, customer preferences at product purchases, track success of marketing campaigns and analyse profitability by product, geographical area or other factors.
• Regulatory Analysis: Companies have extensive security and reporting requirement, necessitating reliable collection and presentation of information.
BI Services help in collecting and integrating information from across the enterprise, presenting information in easy-to-run and understand reports, protecting sensitive corporate and customer information as required by law.
• Clinical Data Analysis: With intense pressure to speed products to market while keeping costs down, companies monitor and manage clinical data process.
BI Services can track the large amounts of data stemming from clinical trials, identify most efficient practices, optimize resource allocation, identify trend and anomalies and analyse risk during product development and launch.
• Financial Analysis: Monitor financial performance is required to maintain cost and create effective budgets.
BI Services include integrating both financial and operational information, monitoring and forecasting financial performance, producing statutory financial reports from same platform that enables clinical data and quality control analysis.
• Operational Analysis: To Increase profit margins, companies monitor huge amount of information from across enterprise and turn it into useful, actionable knowledge.
BI services track their supplier networks, inventory, product quality and production levels. It monitors costs and operational efficiency across enterprise, examine employee productivity and allocate resources more effectively.
3) Among the various processes in the industry, below mentioned is the Functional Requirement in pharmaceutical sector-
There are functions done by the system such as: store the necessary information of drugs, prepare bill for medicine, give week reports, easily searching for medicine, working in different languages, Update, delete save data of medicine.
• Generate report: pharmacy management system generated report weekly on information about drugs and it exports the information as output document.
• Store the necessary information of drugs: The pharmacy system stores the detail information about each medicine including actual name, formula of medicine and how importance it is and for which disease.
• Searching medicine and other Data: The pharmacy system can easily search medicine which shows in which shelf is put and the behaviour of medicine. The searching process is based on name of given data or identification of item. Here when user search the item on search bar the related things were displayed on screen and can select the actual item that user needs.
• Alerting pharmacy data's in system: Changing medicines to another because of medicine outdated, modifying the saved medicine data for incorrect data, deleting of data of the pharmacy can be done on system.
4) Majorly IBM Security solution is used in pharmaceutical industry. Management information system can be compared to the nervous system of a company. Its malfunction may cause adverse effects in many different areas of the company. Information Security Management is understood as tool of the information confidentiality, availability and integrity assurance. An effective information security management system reduces the risk of crisis in the company. It also allows to reduce the effects of the crisis occurring outside the company.
Pharmaceutical companies are utilizing the power of IBM security solutions to collect and analyze a vast amount of genomic data to find the connection between various research papers, providing collation that is beyond the ability of humans. It can quickly analyze and index: research, web text, video, and medical data at unprecedented speed and scale, there is the promise that it will aid in differential diagnosis by finding hidden patterns in the patient data.
What makes IBM security solutions' impact on healthcare compelling is that data, even about a single patient, can be staggering. It is impossible for a provider to review a thick, 1-inch medical record, or even the contents of an Electronic Medical Record (EMR) during a brief patient encounter. Cognitive systems change the landscape by consuming specific patient data and comparing it to massive amounts of medical research to provide the clinicians with relevant patient data and supporting treatment research, driving a more accurate differential diagnosis. Unlike traditional analytics, it can address ambiguous problems and present a variety of potential answers with various confidence levels. It understands natural language allowing it to read the vast amounts of unstructured data found in healthcare and leverage that understanding to apply to clinical settings.
5) Streamlined business processes, centralized management, quick decision making and clear analytics have become essential for any business to grow in the modern-day scenario. A lot of businesses are adapting smart Enterprise Resource Planning or ERP softwares to meet this need. While each industry has its own reasons for implementing a suitable ERP software, the pharmaceutical industry has some unique requirements.
An ERP software for pharmaceutical industry enables the consolidation and integration of pharmaceutical manufacturing processes across multiple units, also helps businesses to keep a track on sensitive operations across organization, such as compliance, expiry management, quality, formulation, costing, yield and more.
Functions predominant in the pharmaceutical sector and are manages using ERP are:
• Supply Chain Management: Key issue to cope the level of variety in the sector is how can material, capacities, manufacturing times and manufacturing yield, all four fall in line with the deliveries. There are typically two parts in the overall Supply chain management. The first is called Master Planning of Resources and the second is called Scheduling. Typically, the demand forecast comes in 2-3 months prior to the start of the actual manufacturing cycle and this is where master planning starts. So, considering the forecast and available capacities at each location, the master planning stage works out material requirements and also projects the capacity shortfall. Typically, this is worked out in an ERP package. Inputs can be directly taken from past ERP data such as expected opening inventory for each input material to arrive at net requirement or can be manually fed in, typically for capacities available, line wise which can vary from month to month. The output from such a system is a firm plan and also material requisitions which are forwarded to the procurement team, along with the expected delivery dates, considering the testing times. The next step is scheduling, which is active when that particular month is reached. So, based on net of previous month's production shortfalls, how much has to be made in next one week say, day-wise, and when, looking at the available material releases
• Customer Management: ERP software can cut down the delivery time for execution of the request and enhance consumer loyalty. A well-defined strategy for client exchange is extremely helpful in having better client relations. Ideally, it takes 3 days to answer any of the client's inquiries. This period can be slashed down to a day, which will have great effect on client's impression of the association.
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