What is ERP?

Answer 1

ERP stands for "Enterprise Resource Planning" and is a series of computer packages/modules which link together to provide support for the day to day running of a business. A small company may invest in a few modules (say payroll and accounts) and a larger company perhaps would need more (for example a stock keeping/ordering package). Typically the modules run from a common database, with updates on one package impacting others. Training in the operation of the new software must be given and the company is tied to one supplier for all modules.

Rather than having to learn and pay for developments in different supplier software for Payroll, inventory, Accounting, Inventory, HR, and other core areas, a proper ERP software allows you to grow when you need to, and run off one system but with the ability to communicate to more mainstream programs if needed. Its usually not cloud based as most companies are aware of the importance of onsite accounting and inventory programs (security of data and speed) and the size of the system is usually something preferred to have onsite.

An ERP system that is able to be customized is thought to be best as every business is different and some of the larger very expensive ERP software systems are just too extensive or off the mark for small to medium Businesses.

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Answer 2

Enterprise resource planning (ERP) integrates internal and external management information across an entire organization, embracing finance/accounting, manufacturing, sales and service, customer relationship management, etc. ERP systems automate this activity with an integrated software application. Its purpose is to facilitate the flow of information between all business functions inside the boundaries of the organization and manage the connections to outside stakeholders.

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Answer 3

The Enterprise Resource Planning implementation streamlines the business processes of a company, bringing in efficiency in the operational areas. It provides the realistic, measurable and time benchmarked benefit. These benefits can be broken down into

• Better management of resources reducing the cost of operations and thus bringing down the number of order processing mistakes.
• Allows a faster measurement of results.
• Improved planning at functional and process level.
• Customer satisfaction increases due to shorter delivery cycle.
• Simultaneous activation of the decision centers because of instant inducement through triggers or updates.
• Business operation transparency between business partners cutting down the execution time of critical business operations.
• Down placement of decision making to lower levels, releasing the burden on middle management.
• The strong interface capabilities of the system will provide for a better use of human resources due to the improved access to information.
• The processes become faster due to work group technology and application of work flow automation.
• Will facilitate the future expansion of the business as the ERP system poses a scalable architecture.
• The ERP implementation automatically leads to the usage of the best business procedures bringing consistency of operations.
• With the use of data warehousing, management becomes more knowledge-driven and the organization will becomes a learned one.
• ERP Scope can be enlarged through the internet/intranet access; making the ERP sensitive to the latest events in the business, market and technology.
• The quality of decision making improves as the users responsible for decision making are made alert and they are better informed.

Taking ERP Functional area separately:

Finance: Financial ERP module will bring in the following benefits

• General accounting functions
• Ledger payables and receivables
• Subsidiary ledgers
• Cash flow management
• Loans management, fund management
• Working capital management
• Budgeting planning and control
• Balance sheet processing
• Tax management, status reporting
• Asset accounting
• Cost accounting: cost center accounting, order accounting, product costing
• Cost analysis of business decisions
• Bank reconciliation
• Letter of credit management
• Consolidation of accounts

Material Management and Procurement:

• Purchasing and procurement
• Goods receipt and issue items
• Stock management and valuation
• Inventory analysis
• Store ledger, valuation, analysis and disposal
• Customs
• Data integration with production, accounts systems
• Quotation / Inquiry processing
• Sub contracting, material accounting and bill processing

Production planning and control

• Bill of material
• Process sheet, routing
• Work order generation, scheduling and control
• Production planning :MRP, MPS and capacity planning
• Interface to CAD, CAM, CAE systems
• Quality systems for data captures, analysis and control
• Work in process tracing and valuation
• Center management
• Production -materials interface
• Collection of unit data for valuation and costing

Personnel

• Personnel data management
• Personnel attendance system
• Payroll accounting, salary, wages, incentives, bonus, income tax and other deductions
• Human resource management, planning, recruitment and training.
• Personnel cost , projection and planning

Sales and distribution

• Order processing
• Dispatch and invoicing
• Order analysis, forecasting
• Sales analysis , budgets and controls
• Finished goods store management
• Dealer distributor management system
• Receivable analysis
• Market/customer/ Product analysis
• Market research information database
• Marketing personnel management
• Sales forecasting and budgeting

Thus we see implementation of ERP is of great benefit to an organization.

Answer 4

ERP is Enterprise Resource Planning. It works by integrating internal and external management information throughout the whole of an organisation. It uses information from many different areas such as finance, accounting, manufacturing, sales, customer relationship management (CRM) to automate the flow of information between every business function within an organisation, helping to manage connections outside of an organisation.

Answer 5

The term ERP stand for enterprise resource planning. ERP is a business management software that organizations use to integrate all parts of an operation. This includes marketing, sales, development, and manufacturing.

Answer 6

Enterprise resource planning is the integrated management of main business processes, often in real-time and mediated by software and technology. FactsERP is tailor-made ERP Software Solution, our fully customizable ERP software is developed in Dubai to meet exact requirements of UAE market. Facts is the best software development company in the Middle East which provides ERP solution, HR & Payroll software since 16 years. facts.ae

Answer 7

ERP is a type of software used by businesses to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations.

The ERP system is working to help businesses manage their data. The most important thing about this is that the system can be customised to meet your needs so that it works for you and not against you. Businesses in every industry use ERP systems as they are one of the best ways to keep data organised, which will make your business more efficient and productive.

The system is customized for an organization’s needs. It can include complex modules such as CRM (customer relationship management) or MRP (manufacturing resource plan ERP software contains a suite of applications which automates business functions like production, sales quoting, accounting, and more).

For example, in the supply chain industry, an ERP system could automatically run a financial analysis and forecast future stock needs to keep inventory at a healthy level. This process control ensures that the manufacturing department is operating at maximum capacity and in-demand products are available

The 6 most significant advantages of an ERP system

A better view of your business process. ...

cooperation is Improved ...

Improved inventory control. ...

Better customer service. ...

Stronger security and regulatory compliance. ...

Scalability benefits

The advantages and disadvantages related to ERP

An ERP system allows you to collect, store, and analyze data from all of your operations in one place, providing a single source of truth and the visibility to act more strategically. That centralized data enables a business to access real-time information and generate more useful reports.

Five Main Components of the ERP system

Finance: It manages all of your financial data including Accounts receivable, Accounincrease, General ledger, costs, budgets and forecasts. It helps to keep track of cash flow, lower costs, increase profits and make sure that all the bills are paid on time. The increasing complexity of the business makes important the need to have a centralised system to manage all f the financial transactions and accounting for multiple business units or product lines.

Huma and Resources (HR): it is software handling all personal-related tasks for managers and workers. Workers are a very important role in any organization, without them business not exist. This component is responsible for and automating payments to employees, paying taxes, generating performance reports, attendance tracking, promotions, deciding working hours and holiday hours of the staff.

Manufacturing and logistics: with It is a group of applicants for planning, production, taking orders and delivery to customers. It provides you with a view of the demanded and achiesummariesels which is a very important look into whether you are achieving your targets. It provides all the stock summaries and action plans beneficial for the business. It includes Production planning, order entry and processing also warehouse management.

Supply Chain Management (SCM): A supply chain management is a network of facilities that perform the procurement of the materials and transformation of these materials into intermediate and finished prods and distribution of these products to the customers. Planning, Manufacturing, Marketing, Distribution and the p chasing organizations through a supply chain operate independently. These organizations have their own set of goals and objectives.

Customer Relationship Management (CRM: This component interacts with the customers using data analysis to study a large amount of information. They focus on the audience and observe what is bendataal to them. The component collects customer data from multiple channels. As a result, CRM stores detailed data on overall purchase history, personal info, and even purchasing behaviour patterns.

Answer 8

erp stands for Enterprise Resource Planning.

Answer 9

Enterprise Resource Planning

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Answer 10

An ERP System When people talk about SAP, they usually mean the software system called SAP ERP. SAP ERP consists of several parts, which are called “modules”. Some common modules, such as finance and accounting, are adopted by nearly all users of SAP.