MAXLife: Life Sciences Cloud ERP

MAXLife Cloud - Cost of Quality Management

Executives at Life Sciences organizations have traditionally viewed Quality Assurance as a cost center; a mandatory line item in the cost of goods sold that did not deliver competitive advantage.

Times have changed; however, most Executives believe that their company's Cost of Poor Quality is less than 5% of gross sales, or just do not know what it is. In reality, experts estimate that the COPQ can amount to 30% of gross sales for Life Sciences manufacturers. Independent studies also reveal that COPQ is costing companies millions of dollars each year and its reduction can transform marginally successful companies into highly profitable ones.  

A couple of years ago, the Aberdeen Group published a report: The Cost of Quality: a Study on Life Sciences. This benchmark study showcases the performance benefits manufacturers are currently enjoying due to the adoption of enterprise quality management strategies and technologies. These manufacturers are now focusing on quality management initiatives as a source of competitive advantage, while responding to the market pressures to both reduce the cost of quality and improve finished product quality. 

In our experience working with Life Sciences companies, there is the potential to reduce the total cost of quality by as much as 50% simply by implementing software solutions that automate quality management and regulatory compliance processes so issues can be globally managed from initial detection to corrective action, and through to trend analysis.  

MAXLife Cloud's Cost of Quality Management enables critical tracking, reporting and analysis of costs related to performing quality processes across the organization. With MAXLife, companies have visibility on their complete product costs, including important quality processes, and are able to make better decisions timelier.

MAXLife Cloud ERP Benefits:

Real-Time Visibility Into Critical Business Data

FDA Compliance Support and Validation

Powerful Embedded BI and Analytics

Support for Global, Multi-Site Organizations

Automate and Optimize Business Processes

Agile and Flexible Deployment Alternatives

Complete Supply Chain Integration

Low Total Cost of Ownership

Simple, Familiar, and Intuitive User Experience

What Can Cloud ERP Do For You?

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CEOs Finance IT Sales Operations

Free MAXCloud ERP Trial

Life Sciences Industry Webinar

MAXCloud ERP Fact Sheet 

This paper presents a practical and compliance-focused approach to root cause analysis and corrective action processes.

  Failing To Establish and Maintain a CAPA System? Your Company Could be at Risk

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