Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Management Expert

Enterprise Resource Planning (ERP) covers the techniques and concept employed for the integrated management of businesses as a whole from the viewpoint of the effective use of management resources to improve the efficiency of an enterprise.

ERP is the technological back bone of e business an enterprise wide transaction framework with links into sales order processing inventory management and control production and distribution planning and finance.

Kumar et al define enterprise resource planning ( ERP) systems as "configurable information systems packages that integrate information and information based processes within and across functional areas in an organization".

Typically before ERP implementation each department has its own computer system optimized for the requirements that a department needs. As shown in figure 1 each department will maintain separate databases and design application as per their functionalities. These will result in local optima and overall very poor results across all the department or within the company.

ERP combines all the business requirements of the company together into a single integrated software programs that runs off a single database so that various departments can more easily share information and communicate with each other. As shown in figure 2 conceptually ERP replace the old standalone computer systems in finance, HR manufacturing et. With a single software program that facilitates various functional modules. Thus everybody from the finance manufacturing purchasing etc, will still get their own advantages of software along with the added feature of availability of information across other departments to improve decision quality. For example someone in finance cause ERP to see if any sale order has been shipped from the warehouse so that can now confidently plan for working capital management for the next period.

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M9525624

Have any Question?


Related Questions in Business Management

An important factor in team effectiveness is ensuring that

An important factor in team effectiveness is ensuring that the needs for both task accomplishment and team members' socioemotional well-being are met. Discuss.

Stuart black states in his book that in order for leaders

Stuart Black states in his book, that in order for leaders to see real "movement" during change initiatives, people must clearly see where they are going? Please explain what he is trying to say by this.

What are content management systems cms describe the

What are Content Management Systems (CMS). Describe the challenges in implementing and maintaining CMS. Can internet search engines be considered as Content Management Systems - explain your answer.

Bull draft a one-two sentence personal definition of

• Draft a one-two sentence personal definition of leadership. Base your definition on what you have encountered, as well as on what you have already know about leadership. • Discuss the statements: "Leadership is everybo ...

Auburn creed i believe that this is a practical world and

Auburn Creed: I believe that this is a practical world and that I can count only on what I earn. Therefore, I believe in work, hard work. I believe in education, which gives me the knowledge to work wisely and trains my ...

How can the international community and global corporations

How can the international community and global corporations be involved in solving world hunger in India?

Low cost leader strategywhat are some of the risks

Low Cost Leader Strategy: What are some of the risks associated with a low cost leadership strategy? Provide one original example of a company that you believe employs this strategy and why?

An investor decides to purchase a business he hires a

An investor decides to purchase a business. He hires a consultant to help him find a good one. The consultant advises to find a business that faces no competition because such a business can earn rates of return in exces ...

If we know fc mc profit and quantity why to find profit

If we know FC, MC, Profit and Quantity, why to find profit maximizing price in short run we use formula Profit=(P-MC)Q ? How can I can come up with this formula? Profit=TR-TC, how from this formula we get the one above? ...

Tell me something about dispute resolution of ford motors

Tell me something about Dispute resolution of ford motors company and its references.

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As