As the Life Sciences industry is being driven by corporate M&A, it is essential that organizations effectively leverage enterprise asset management systems (EAM) to meet industry pressures that stem from desired growth, current stock market status and investors as discussed in our latest blog The M&A Rollercoaster. It is without doubt that M&A are great for an organization’s growth, however, the one common problem corporations typically face is the challenge of effectively managing assets enterprise-wide to improve productivity and compliance.
To no matter what end a corporation is involved in an M&A, corporate-wide management is crucial. During M&A, it is highly unlikely that the organizations joining together will have been previously managed in the same manner. Although it is typical for each organization to have different means of managing assets and ensuring GMP compliance, unifying asset management across an enterprise during M&A is critical.
Corporations can ensure greater harmonization across facilities with the use of one integrated EAM solution. By utilizing a single solution designed to harmonize calibration, maintenance and validation across organizations, the acquiring enterprise can drive productivity and profitability – satisfying both the organization and its investor’s desire for growth and revenue. An EAM system also plays an important role in helping a corporation determine their organization’s value. Validated software integration of solutions reduces and eliminates duplicated entries and allows collaboration between departments – generating greater efficiency and compliance.
What should you look for in an EAM Solution?
For complex enterprises made up of M&A, an effective EAM system includes multi-site capabilities and robust methods for carving out instances. An EAM, similar to Blue Mountain RAM, can streamline data at an enterprise level. This type of custom solution provides the option to either standardize or custom configure processes across facilities. By integrating cost data and spare parts purchasing, companies can gain a centralized view of all their facilities and reveal common issues and trends. Utilizing an enterprise maintenance and calibration solution that runs on a single set of hardware can reduce costs and improve GMP compliance and profitability.
Sources:
http://fortune.com/2015/07/28/why-pharma-mergers-are-booming/