With organizations increasing in size, the need to integrate different business processes has become vital for their smooth functioning. Besides, the amount of information flowing through an organization is also continuously increasing. Therefore, to manage the flow of information amongst different functional entities, an integrated system is required. This requirement is fulfilled by ERP or Enterprise Resource Planning system.
Prior to ERP, there were various computer systems which were restricted to a specific function. Integrating and coordinating these different computer systems and their data was complex and cumbersome, and the compatibility of the systems was also a major issue. This problem is overcome by ERP, which encapsulates the entire spectrum of business processes, including sales management, production management, accounting, human resources, maintenance management, quality management, etc.
ERP uses a single database in which information from different functional domains is stored. As a result, the information needs of different entities can be met from a single location. This integrated approach can, for instance, allow the production department located in one geographical area to send financial information to the head office and the marketing information of one location can be accessed by the production department at another location, so that the market patterns can be identified and the appropriate responses can be designed. Proper implementation of ERP ensures that the management has relevant and timely information at its disposal for effective decision-making. The effectiveness of the ERP system in business can be judged by the fact that in spite of its high cost of implementation, many organizations have adopted ERP systems.
Initially, ERP was developed for manufacturing and distribution. But now ERP packages provide one-stop solutions to all business processes requirements. Nowadays, many extensive ERP systems incorporate Customer Relationship Management (CRM), Supply Chain Management (SCM), warehouse management and other business process solutions.
This chapter provides an overview of ERP, how ERP affects businesses, and various issues in ERP implementation. It also discusses the specific characteristics of well-known ERP packages.
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