- Established: 1981
- Location: Vietnam, Ho Chi Minh City
- Industry: Pharmaceutical
- Number of Employees: 585
- Web site: www.pharmedic.com.vn
Pharmaceutical Company in Vietnam Achieves Ten Times Faster Data Processing Turnaround with Epicor ERP
"Our operating departments used to work in silos resulting in lots of duplication and errors. After implementing Epicor ERP, we are well integrated on real time. Data only needs to be keyed in one instance and the financial accounting operations has been speed up ever since."
Mr. Cao Tan Tuoc, Vice General Director/Admin and Finance Director | Pharmedic
Established in June 1981, Pharmedic Pharmaceutical Medicinal Joint Stock Company (Pharmedic) is a pioneer in the modern pharmaceutical industry in Vietnam. The company is listed on the Hanoi Stock Exchange and is currently a leading local manufacturer of pharmaceutical products in Vietnam. As a leading player in the health care sector, Pharmedic mainly manufactures its own brands of pharmaceutical products. And more recently, began manufacturing cosmetic products as well.
Pharmedic supplies pharmaceutical products, cosmetic products, medical supplies, and other health care products directly to pharmacies, clinics, and hospitals across Vietnam. Their customers also include large agents in some areas of Vietnam.
Pharmedic has been growing quite rapidly over the past 30 years. Along with this growth, operational processes and procedures have expanded and become more complex. Systems and processes were implemented randomly over the years and functioned independently with little or no integration across departments. Accounting, production, inventory, and purchasing systems all ran separately within
Data collection and input were repeated in different departments, and sharing information was practically impossible. The greatest challenge was in the accounting and finance function where month end closing was a mammoth task. Inaccuracies were everywhere. Data processing was slow and monthly closing of accounts was usually delayed by 3-4 weeks.
With a vision to continue the company's growth into the future, Pharmedic management decided to embark on a company-wide integrated ERP system. The process involved presentations made by various IT vendors. Pharmedic management was quick to decide on Epicor ERP as it emerged above the other systems in reliability, scalability, and affordability. Epicor ERP also rated highest in terms of functionality and user friendliness.
Epicor ERP was implemented smoothly with an experienced and dedicated team from Epicor and its local partner-3S. Senior management from Pharmedic was closely involved with the decision making process right from the start and throughout its implementation. The modules implemented include financial accounting, sales, inventory, purchasing, manufacturing (materials and production planning, BOM, routing, scheduling, and costing) and bar coding for import and export management.
The most significant benefit is that information is now in real time, online, and integrated across all departments. Errors, inaccuracies, and data duplication are minimal. Information processing is at least 10 times faster than before. Financial information is more accurate and transparent which is a definite plus to the decision makers of the company.
The results of Epicor ERP are clearly evident. The system provides information almost instantly and in real time. Monthly financial closing takes only one week and management information is reliable, transparent, and timely.
An important overall aspect of Epicor ERP is the company is now confident that its systems and processes can now cope with its future expansion and growth averaging 10-15% yearly.