Enterprise Resource Planning

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Enterprise Resource Planning

Enterprise Resource Planning

ERP is short for enterprise resource planning. Enterprise resource planning (ERP) is business process management software that allows an organization to use a system of integrated applications to manage the business and automate many back office functions related to technology, services and human resources. ERP software integrates all facets of an operation — including product planning, development, manufacturing, sales and marketing — in a single database, application and user interface.

ERP Software

ERP software typically consists of multiple enterprise software modules that are individually purchased, based on what best meets the specific needs and technical capabilities of the organization. Each ERP module is focused on one area of business processes, such as product development or marketing. A business can use ERP software to manage back-office activities and tasks including the following:
Distribution process management, supply chain management, services knowledge base, configure, prices, improve accuracy of financial data, facilitate better project planning, automate employee life-cycle, standardize critical business procedures, reduce redundant tasks, assess business needs, accounting and financial applications, lower purchasing costs, manage human resources and payroll.
Some of the most common ERP modules include those for product planning, material purchasing, inventory control, distribution, accounting, marketing, finance and HR.

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ERP Software

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Features of ERP Software

Features of ERP Software

  • Financial management: The financial module in ERP provides financial functionality and analysis reports for different departments and cost centers.
  • Human Resource Management ERP solution offers many different sub-systems under the HR module. The subsystems are Personnel Management, Organization Management, Payroll Management, Time Management and Personal Development.
  • Manufacturing: It constitutes of number of functionalities, mainly, Bill of Material, Engineering Change Note, Shop Floor Control, Sales and Distribution Plan, Master Production Schedule, and many more.
  • Supplier and Purchase Order Management: The purchase module is well integrated with the Production Planning and Inventory Control Modules and also the supply chain process.
  • Inventory & Material Management Module: The functions of Inventory Control Module involves identifying inventory requirements, setting targets, providing replenishment techniques and options, monitoring item usages, reconciling the inventory balances and reporting inventory status.

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