In todays competitive environment, Pharmaceutical Contract Development Manufacturer Organizations (CDMO’s) are integrating technologies into their business processes to track, control and streamline their manufacturing process. From internal communications and project management to real time data dashboards and Enterprise Resource Planning (ERP); speed, preciseness and efficiency are vital in this day and age of manufacturing on a global scale. The technologies contributing to achieving a competitive edge are: Cloud Services, Big Data and Social Networking.
More and more the internal processes of CDMO’s rely on Cloud Services. They allow CDMO’s to automate many of their business processes such as: customer service, client support, order status and responding to online inquiries. Cloud Services are quick to roll-out, easy to customize and adoption rates are growing with the proliferation of smart devices. Enterprise Resource Planning (ERP), Order management, business intelligence and content management platforms that are run from Cloud Services generate better more complete collaboration and real time data analysis which can be accessed from any internet connection.
Manufacturers are flooded in a sea of data and often this data is trapped in its own silo, sitting in spreadsheets waiting to be extracted. To help compete in an increasingly complex market landscape, CDMO’s can analyze data to drive better efficiency and productivity. Market trends and forecasting extrapolated from collected data points often results in recognition of new market opportunities. These opportunities are an added benefit that can then be passed on to their customers.
Social Networking is an area usually reserved for sales, marketing and advertising departments, but as more and more B2B interaction occurs, CDMO’s can begin to better understand their customers’ perspectives, experiences and problems while also keeping a pulse on the industry. Social Networks also improve customer service by offering a direct line of communication. Twitter is a great tag and response social network that often results in direct communication with decision makers.
The CDMO market is still in it’s infancy, but adoption of new technologies is an important component and vital step which will enhance the future success of manufacturers who grasp this opportunity. The market leaders’ never-ending pursuit of manufacturing efficiency through technology can result in higher profit margins. More importantly, as hyper-connected lifestyles become the norm, the collection, storing and analyzing of data will shape and guide those companies that aspire to market leadership.