SEOUL, South Korea, March 31, 2020 /PRNewswire/ — Yuyu Pharma (CEO Robert Wonsang Yu, KRX 000220) introduced a new Enterprise Resource Planning (ERP) system to identify real-time management conditions and enhance system management for more efficient decision-making.
The new ERP system took more than 1 year to develop. The focus was integrating the ERP systems of not only Yuyu Pharma, but with those of Yuyu’s affiliates such as Yuyu Teijin Medicare.
The new ERP system integrates the information from Sales, Manufacturing, Purchasing, Quality Control, Finance, and Human Resources into real-time links, allowing a more effective cost, profit analysis. Details of each activity, such as clinical trials, post-marketing surveys, and academic symposiums are subdivided, and the expenses incurred by each activity are automatically reconciled with details of use of funds. This makes it easier to manage and report item by classifications.
"The ERP system allows for more insightful and secure methods for data management. We will be able to look at how we are managing the entire company process and leverage that to make better decisions. We will continue to upgrade our system to be competitive in today’s environment," said CEO Robert Yu.
About Yuyu Pharma
Yuyu Pharma(KRX: 000220) is a pharmaceutical company founded in 1941. The company manufactures, distributes, and does marketing for pharmaceutical products, medical devices, and medical foods in South Korea and Southeast Asia. Currently, Yuyu Pharma is focusing on developing new drugs for treating enlarged prostates and dry eye syndrome.
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