Innovation Takes Center Stage, But Launch Needs Planning
Life sciences startups often prioritize product development, and rightfully so. Groundbreaking discoveries in the lab fuel these businesses, and commercialization strategies sometimes take a back seat. However, founders often underestimate the complexities of bringing a product to market.
Beyond the Lab: The Challenges of Going Commercial
Commercialization involves much more than the science itself. It demands meticulous inventory and supply chain management, rigorous sign-off procedures, standardized processes and materials, and thorough validation steps. Additionally, securing funding for this crucial stage can be a significant hurdle.
Reactive vs. Proactive: Building a Solid Foundation
Many life sciences companies only address process controls and supporting systems when a CFO joins the team. This often triggers discussions about implementing an ERP (Enterprise Resource Planning) solution. Quality teams might also push for an ERP to meet regulatory requirements.
While adopting an ERP at this juncture is certainly beneficial, establishing a strong ERP foundation even earlier is even more advantageous. By proactively setting this groundwork, life sciences startups free themselves to focus on their core business and navigate the numerous challenges that arise during the transition from early-stage development to full-scale commercialization.
Explore SAP ERP for Life Sciences Organizations!