Pharmaceutical manufacturers that use contract manufacturers must have consistent and accurate visibility into the material positions maintained at those contract manufacturers. Visibility is required to support the sales and operations planning (S&OP) process and ensure that financial reporting of inventory is accurate. Understanding inventory by product and lot number as well as inventory asset class (raw material, work in progress, and finished good) is critical to these processes.
TraceLink’s Inventory Monitoring application provides pharmaceutical manufacturers with visibility into their inventory positions at their contract manufacturers. Inventory is typically reported daily and includes inventory categories such as Quantity On Hand, Quantity On Hold, Quantity Inspection, and Quantity On Order. In addition to total amounts, inventory reporting is provided at the lot level and lot history balances are captured and available to show which lots are being consumed.
With Inventory Monitoring you can view:
- Inventory levels by material type including Raw Material, Finished Goods, and Component Materials
- Inventory levels by Item Code and Lot Number
- Lot history balances showing how inventory was decremented or incremented by lot number
- Cross reference tables between customer and supplier codes for item codes, location identifiers, and lot numbers