Recent trends suggest that there is an increased awareness about the usefulness of Nutraceuticals/ food supplement products for a healthy life in both young and aged populations. Rising health insurance costs has also contributed partially to this increased health consciousness. Now more and more number of people are proactively taking food supplements in their daily diet to prevent diseases and for a healthy living. This has provided a big boost and push to the growth of this industry with many new players entering the fray. Moreover, new innovations in food and nutrition technology has also revolutionized the way nutraceuticals are produced and delivered, for example multivitamin candies for children. To remain competitive, nutraceutical manufacturers have paid lot of attention on branding of their products with innovative and attractive packaging.
Inspite of the great advantage that nutraceutical manufacturers do not have to seek pre-FDA approval before marketing, this industry segment suffers with ill-defined intellectual property rights laid down for pharmaceutical products. Due to the fact that nutraceutical products are used by innocent consumers, regulatory agencies call for the nutraceutical manufacturers to adhere to cGMP guidelines for producing their products so as to safeguard the consumer’s interest. Under this scenario, to remain profitable, the major challenge confronting nutraceutical manufacturers remains to make cost-effective and high-quality products to outlast the competition. This has prompted them to use advanced software technologies like ERP to manage their business and comply with regulatory norms.
BatchMaster ERP for Nutraceuticals, a tailor-made ERP system, fits their bill as it understands the needs of this complex industry and supports its core business processes in R&D, product development, production, quality, costing, traceability and regulatory compliance. It also helps the manufacturers get rid of paperwork errors and sort their documentation, streamline the manufacturing process, reduce operating costs, speed up information distribution, and enhance product quality and process efficiency. With BatchMaster, their business achieves adaptability, agility, accountability, reliability and scalability- in short, the way to profitable growth.