Incepta Pharmaceuticals LTD
Year of Establishment: 1999
Market Share: 10.2%
Incepta Pharmaceuticals LTD (IPL) uses ERP Software system supported ‘SAP’ to perform its accounting activities in a more efficient way. The common cycle activities Incepta Pharmaceutical LTD performs are as follows :
- Procurement cycle: With ERP – SAP, the Procurement department of Incepta Pharmaceuticals LTD manage their purchase orders more efficiently and find new ways to save money. With their centralized ERP software, they can realize their full purchasing power, negotiate better controls and more. It enables to simplify basic procure to pay processes – from requisitioning to e-invoicing. It reduces purchasing costs by optimizing inventory levels and consolidating shipments. It can fine-tunes invoicing and payables by automating data extraction to eliminate errors and duplication, accelerate invoice processing and streamline payables.
- Production Cycle: a) SAP ERP enhances and accelerates the manufacturing operations of IPL from production planning and scheduling to execution and analysis.
b) It enables to manage the manufacturing process by delivering product related data, collaborating internally and externally, and creating product strategies with detailed analysis.
c) Allocate budgets, monitor spending against budget and avoid budget overruns.
d)Coordinate operations at enterprise and local levels, including product planning, language and localization needs, and logistics for work in process and inventory.
e) Reduces work in process and help ensure shorter, predictable production cycles .Improves manufacturing execution, asset use and decision making with real time insights.
f) Provide reliable inventory information business-wide with a single centralized system. Integrate inventory and warehouse management with related processes such as procurement.
- Financing Cycle: SAP – ERP integrates key financial and accounting processes – making it easier to manage spend, resources and financial reporting requirements. It enables to evaluate the profitability of markets, channels, products and segments. It plans and manages growth by collecting and assigning costs by project, order, cost center or process.
- Human resources Cycle: SAP ERP enables HR team and work force of IPL to support employee administration, time management, payroll and legal reporting. It enables to support time management needs such as time tracking, absence management, employee scheduling and compliance.
- Revenue cycle: With order to cash functionality of SAP ERP, IPL can accelerate and automate the entire order to cash process – from order management and product fulfillment to accounts receivable. It enables to hit sales and delivery target with accurate multichannel information on pricing, products, customers and contracts in real time and streamlined order to cash processes. It manages customer account receivable with integrated software that can record and manage accounts receivable data for all customers.
Beside this, SAP ERP enables IPL to differentiate themselves with exceptional services using request to service software. The software maintains detail service date on assets, equipment and systems at customer sites. Thus it can streamline the whole process from request and operations to billing- with integrated processes and reliable profitability information on all activities and used parts.
Sources and References: For smooth and accurate analysis we have decided to ascribe both primary and secondary sources.
We visited the company but we didn’t get enough information there due to restriction of company’s policy regarding disclosure.
Annual Report of Incepta Pharmaceuticals LTD (IPL)
Website of Incepta Pharmaceuticals LTD (IPL)
Data Collection Method for IPL: Relevant data for this assignment has been collected primarily by direct investigations from different company personnel.
Data Source: The data has been collected from company website. The Incepta Pharmaceuticals LTD (IPL) are using SAP-ERP for automating its accounting activities so we have taken some information from SAP-ERP website. Moreover we couldn’t access the annual report as it is not available anywhere in the website.
Data Processing: Data collected from secondary sources have been processed manually and qualitative approach in general and quantitative approach in some cases has been used throughout the study.
Data analysis and interpretation: Qualitative approach has been adopted for data analysis and interpretation taking the processed data as the base.