Enterprise Resource Planning:
In a competitive business environment, the organization's operational efficiency and its ability to respond quickly to changing customer demands are sources of competitive advantage. The customer responsiveness of an organization depends on the communication and coordination between various departments as well as efficient planning of resource utilization in the organization. Many companies are adopting ERP applications in order to solve their integration problems, develop optimum business models and achieve operational efficiency. Implementing ERP affects a company's architecture, processes and procedures to a significant extent. When implemented properly, ERP helps companies reduce inventories and cycle times, cut costs, and improve operations and customer service. There are many companies like 3Com and Procter & Gamble, which have successfully implemented ERP solutions, reengineered their business processes and achieved significant cost benefits. Some companies derived benefits in the form of higher returns on their investments while others benefited from reduction in the efforts involved in managing their operations. Despite these negative cases, many companies in various sectors, including the professional services sector, are continuing to adopt ERP solutions.
Enterprise Resource Planning (ERP) is a software application that helps a company integrate several functions, create optimum utilization of management resources and enhances its process efficiency. ERP seeks to address the requires of, not just one or two departments/functions, but the entire part of functions like manufacturing, human resources, marketing, finance and logistics.
ERP ensures that data opertaed in any one of the functional modules is made available to other parts that require the data. This enhances the consistency and integrity of data. ERP uses the process view of the company rather than function view that traditional enterprise software needed. The function view narrows the focus to a particular functional area and serves some specific requirements. The process view emphasizes a broad understanding of the entire company and its systems and procedures.
ERP implementation in a large corporation may require an investment of more than Rs.100 million. In spite of the huge investment needed for implementation, many organizations adding service organizations (like consulting firms, advertising agencies and law firms) are creating ERP software to an increasing extent.
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