Assignment on Erp System in Bangladesh

Today Enterprise Resource Planning (ERP) is extensively adopted by many organizations regardless of kind and size, mainly because it provides enterprise-wide view of information across all their business operations and help organizations achieve consistency across all their functional departments. The potential benefits of ERP system implementation include improved coordination across functional areas, increased efficiency, reduced operational costs, rapid access to information for decision making, managerial control and support for strategic planning.

As a result of technological advancements, modern businesses seek new and improved methods of conducting their business processes. Systems have been designed to augment and manage core business functions such as production, accounting, procurement, and human resources. However, even with these systems in place, information is unreliable and inconsistent if they are on disparate platforms. Enterprise Resource Planning (ERP) software tackles this problem by integrating business processes into a centralized system.

ERP (Enterprise Resource Planning) implementation is regarded as complex, cumbersome and costly, and, very often, it exceeds the initial estimated resources. The process involves a thorough examination of the business processes in the organisation; selection of the best available software solution that matches the requirements of the enterprise; configuration of the selected systems;, training of staff; and customisation of the selected software solutions including

Within this case the Comp Group are looking towards implementing Enterprise resource Planning (ERP) packages with the aim to build strong capabilities, improve performance, undertake better decision making and achieve a competitive advantage(Al‐Mashari and Al‐Mudimigh, 2003).

"Enterprise Resource Planning is an integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ERP modules may be able to interface with an organization's own software with varying degrees of effort, and, depending on the software, ERP modules may be alterable via the vendor's proprietary tools as well as proprietary or standard programming languages" (pcmag.com). After researching companies who offer ERP solutions, I have decided to cover the following; SAP, IBM, AMS, and Oracle.

ERP system is based on the single database system this database access to everyone in the department which provides very significant impact on the operational command on the business. It also makes easier to decision making process in the business. According to data in 2000 organization spend over 20 billion USD for ERP planning. Which rises 6.7 billion only in a year and they estimated that will be more than 27 billion next 8 years. (Wang, 2008)

The first ERP systems were also designed and functioned as a scheduling and organization tool for manufacturing processes. As ERP evolved into a business solution that began to include other solutions other than specific tools used for manufacturing processes and from this the introduction of solutions that included suppliers and also customers. This evolution grew to include “all of the various processes that are essential to running a business, including inventory and order management, accounting, human

Enterprise Resource Planning (ERP) systems are one of the most current technologies that many companies adapted. Enterprise Resource Planning is defined as a software package that combines activities happening in different divisions into a single computer system. The ERP systems allow transparency in the organization and easy access of data, the software packages consist of several modules which are Finance, Sales, Human Resource and production, delivering an incorporation of transferable- based information management (Esteve and Pastor, 1999). The ERP systems is considered to be the most important management tool in the business industry because it producers real-time data and it increases level of production (Esteve and Pastor, 2001).

Enterprise resource planning is a balanced software solution which is used to manage a company’s resources. It includes various modules for the numerous departments in a company. These include HR, Marketing, Sales and Distribution, Material Management, Production Planning and Finance and Controlling. The ERP system provides transaction codes which perform predefined operations on the entered data set. A large number of different operations can be executed using the ERP transaction codes. Thus, this saves time spent in calculations and assimilation of data.

Enterprise Resource Planning is a packaged business system or software that provides business solutions. These business solutions include processes that automate and integrate different processes of the organization and share common data across the enterprise (Shang and Seddon, 2002).

ERP, which is an abbreviation for Enterprise Resource Planning, is principally an integration of business management practices and modern technology. Information Technology (IT) integrates with the core business processes of a corporate house to streamline and accomplish specific business objectives. Consequently, ERP is an amalgamation of three most important components; Business Management Practices, Information Technology and Specific Business Objectives.

ANSWER: ERP is known as Enterprise Resource Planning, plays an important role to bring together various departments in an organization by effective means of communication through automated software systems. The main function of ERP systems is to manage the flow of important data between various levels of management, thereby providing a clear insight to the performance and outputs of the organization. ERP is an effective tool of business solutions and provides detailed information to a problem occurring in the organizational structure. ERP is the most needed to follow the processes of a client irrespective of the level of completion and enhances a problem free working environment through its constant data flow. An ERP system gives access to various modules like human resources, manufacturing, sales, supply chain management, etc. The biggest advantage of using an ERP system is that it integrates all the small units of a system in to a central system for management that is of great use to the IT sectors. It is also considered as a secure system through which any transaction or process can be tracked with ease. The possibility of errors is minimal in ERP systems as most of the operations are automated and centralized. One can

The rapidly changing environment of business technology and communication complied with rising global competition forces organizations to maintaining efficient and resourceful business tactics. Business organizations need to be continuously upgrading their business processes. These processes are the ways in which these different business organizations perform their operational tasks. The resources that these companies utilize are the necessary tools that help them accomplish their specific goals and defined objectives. Organizations who for the most part are constantly competing now require tools that are effective and efficient. Tools such as effective information systems and policies that provide would them access to important and reliable information so that they can maintain a competitive edge.

Another benefit companies receive from using an ERP is standardized processes and consistent data. This is important in the energy sector and the oil and gas industry because it allows the business to move rapidly to new markets as well as adjust workloads among offices. (Anderson et al., 119) an ERP system will provide managers with pertinent and timely information on when assets need to be replaced among others which will improve the quality of their decisions. (Anderson et al. 119)

ERP management system is the mode of the modern enterprise management. It is a company-wide application, highly integrated system, covering the customer, project management, inventory and purchasing supplies production, by optimizing the enterprise resources to maximize resource efficiency.