Brief Introduction to Enterprise Resource Planning (ERP)
- ERP (Cloud) January 24,2018
Enterprise Resource Planning (ERP) is a software solution becoming necessary to implement with the passage of time. This software completely transforms a business into the digital world. This is a software solution used by all type of industries and businesses. Whether you’re running a small organization or large enterprises, ERP is the best tool available for efficient goal achievement. It efficiently manages the organizational day to day activities that include accounts, inventory, management, and others. ERP systems are specially designed according to a defined data structure and provide access to data from authorized users. It has centralized all of the data and distributes it accordingly. It allows the management and other stakeholders to have complete trust in data accuracy.
History of ERPIn 1990 Gratner1 has invented the term ERP for the 1st time. But it was previously used in the 1960s specifically to control the manufacturing sector as well as inventory management. Software and programs were developed to monitor reconcile balances, inventory & reports. While in the 1970s that system evolved into MRP (Material Requirements Planning) systems to improve the scheduling of production processes. In the 1980s, this approach developed to more processes of manufacturing industry. Now finally in the 1990s, it expands to other processes and functions along with inventory control that includes finance, HR, and others. Today, ERP systems have effectively expanded to business intelligence that handles a variety of functions including marketing automation, sales force automation & e-commerce etc. This integration has raised up organizational growth especially for small and medium-size organizations. Today’s cloud-based ERP solutions are supportive of business consistent growth at an affordable price. These cloud computing solutions have made an ERP easier to implement and manage. Its real-time supporting business in rapid growth. It is now a procedure to meet goals at a competitive edge.
What Integrates Into An ERP Software Solution?Within an organization, if we talk about its payroll, internal communication, and another management tool. We simply take ERP as out foremost available solution. Because it is a one-stop solution for all operations. Now there is no need to find out random solutions to support each function separately. Enterprise Resource Planning is a complete suite of application that operates according to business necessities. An ERP system integration support in the management of a variety of business operations. It streamlines the procedures with a smooth flow of information. It normally handles & defines a variety of functions according to market trends. If you’re seeking an ERP solution for manufacturing business, it may streamline following functions:
- Finance Management
- Human Resource Management
- Inventory Management
- Quality Management
- Sales/Purchase Management
- Finance Management
- HR Management
- Supply Chain & Distribution Management
- Retail Management