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How does this Pharmaceutical company streamline their procurement process for six different branches by using GoComet’s RFQ module?
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Analytics & Modeling - Data-as-a-Service
- Analytics & Modeling - Predictive Analytics
Applicable Industries
- Pharmaceuticals
Applicable Functions
- Procurement
- Business Operation
Use Cases
- Supply Chain Visibility
- Digital Thread
Services
- System Integration
- Data Science Services
The Challenge
With more than 6+ subsidiaries procuring rates at the same time, it was too difficult a process to manage everything via email and phone calls. They were looking for a platform that could bring all their existing procurement processes under one roof. They have been using Gocomet to address the following issues. Single Platform/Dashboard: Spot procurement for different groups of companies were done manually and so they were in need of a single dashboard to track it all. Cross-division approval: Interaction and Interoperability within teams was limited with respect to the Approval process. Multi-level hierarchy-based approval systems were a requirement. Transparency in Auditing: Manual checks were only possible resulting in a lot of irregularities. Choosing the best quotes: Comparing the price and service level quotations from vendors was a very demanding challenge. Digitalization for better efficiency: Current physical processes were tiring and time-consuming. A shift towards automation was mandatory.
About The Customer
This pharmaceutical company with headquarters in Mumbai has a presence in over 100 countries. They provide empty hard pharmaceutical capsules, encapsulation machinery, tablet coating systems, tablet compression systems, fluid bed equipment, tablet tooling and performance enhancers along with online and inline analytical and inspection systems. The company also provides blister packing, high barrier packaging films, carton packing machines, camera inspection systems, candy-wrapping machines, and end-of-line case packers. They have about 4,500 employees and are one of the leading manufacturers of empty hard-shell capsules. This group also offers manufacturing, packaging, research, and development services for the pharmaceutical industry.
The Solution
The company implemented GoComet's RFQ module to streamline their procurement processes. The solution provided a single platform/dashboard to manage spot procurement for different groups of companies, which was previously done manually. This platform allowed for cross-division approval, enhancing interaction and interoperability within teams. The multi-level hierarchy-based approval system met their requirements for a more structured approval process. Transparency in auditing was achieved by replacing manual checks with automated systems, reducing irregularities. The platform also facilitated the comparison of price and service level quotations from vendors, making the process less demanding. Digitalization of the procurement process improved efficiency, replacing tiring and time-consuming physical processes with automated ones.
Operational Impact
Quantitative Benefit
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