Biotech sector in Singapore: The two faces of unique and common problems

Enrichment of the city-state is the manifestation of the biotech hub outburst in Asia, promoting a very innovative and research-friendly environment. The firm has taken the leap and now it is a central point where biotech startups come to implement and utilize advanced technologies. However, this progress carries its own inconveniences. Although some of the challenges the biotech industry faces are especially distinctive, others are common to various sectors throughout Singapore.

Divergent and Congruent Problems in the Biotech Sector

The biotech area in Singapore experiences exclusive challenges that make it different from the others. Let’s take regulatory compliance, for example. It is especially severe in biotech due to the very nature of the products being created, which include genetic materials and biological elements. Apart from that, the area is well-known for high expenditures in research and development, which financially can be a burden. Another challenge is the talent acquisition of individuals with specialized knowledge that is mostly not available. On top of that, other industries’ challenges such as cybersecurity threats and supply chain disruptions also have an impact on the biotech sector. Hence, the recognition that the problem is multifaceted, thus, needing multifaceted solutions, comes naturally.

Using POS System to Overcome Biotech Issues

Point of sales systems, highly adopted in retail, are also the solutions that offer significant advantages in the biopharmaceutical sector in terms of the pressure they take off firms. For instance, a solid POS system would assist in the realization of the inventory management (a crucial wing of firms fighting against and time-sensitive biotech products). The system can also provide extra data analytics, which is of fundamental importance in decision-making (especially concerning obligatory compliance and R&D investment). Even more so, POS systems can chill the cybersecurity issues that lurk in the digital world nowadays by means of transaction encryption and secure data storage provided by them. It is obvious that a deeper relation between POS systems and existing software infrastructures proves to be a paradigm shift in cross-sectional operations management.

Basic Steps for POS Implementation to Succeed

The successful deployment of a POS system depends on an organized process as well as good execution. First and foremost, the specification should be aligned with the firm’s plan and the present technology stack to make cohesive operations possible. It is vital to include both IT professionals and end-users in the decision-making process to comprehensively address all operational requirements. Staff training should be all-encompassing, providing them with both the knowledge and skills that are required in order to use the system in a good way. The rapid development of technology necessitates the periodic upgrades and the evaluation of the POS system as a condition for keeping your edge over the competition.

Multiable aiM18 POS System features automating biotech painpoints

• Chain Store Management: Multisite operations increase the efficiency level.

• Encrypted Membership Database: Data security is ensured, thus the risk of cyber threats is decreased.

• Real-time Integration of Product Database: Inventory and finance systems work in tandem.

• Automatic Logistics Service Provider Selection by A.I.: Supply chain management is optimized and disruptions are reduced.

• Custom Business Flow without Programming: Adjustments can be made instantly without the need for programming, catering to the specific regulatory needs of the biotech industry.

Multiable ERP: E-commerce Integrator at its Best

In the Singapore biotech market, Multiable ERP has won confidence as a basic and extremely useful tool. All real-time integrations are made with the use of large e-commerce platforms such as Shopify, Amazon, and Shopee. They notably close the online and offline operations offering business a dual-channel approach. It is a well-known ASR+ software vendor for IRAS which becomes a credible and reliable choice for firms that want to grow their digital footprint.

What is Multiable POS ?

Multiable POS is a cloud-native POS targeting retail groups with sizable chain stores in Singapore, Malaysia, Hong Kong and China. With over 6,000 customers in the region, Multiable POS gains positive feedbacks from public companies and multinationals across different sectiros, from cosmetics, furniture, fashion, healthcare, pharmaceutics, sportswear and toys etc. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an ERP system in place.