RESEARCH REPORT ON
ERP SYSTEM IN THE CLOUD
In recent years, there has been many changes occurred in the management of business environment. In the past years, there was a competition among the industries only for price and quality. But nowadays market demands customer satisfaction firstly along with price and quality of the product. To meet this demanding situation, various measures are taken by the companies. And enterprise resource planning (ERP) is one of the major measure consider by the companies these days. This ERP software is a comprehensive solution package to integrate the organizational processes like sales, finance and inventory management etc. Even …show more content…
This Report explains the meaning of ERP system and cloud computing and provides deep knowledge about Cloud ERP software. Its 3 models, position in the market and the factors that affecting the cloud ERP system. This report also gives the knowledge about its benefits and risks which are associated with the system. And explain that why Cloud ERP is better than Traditional ERP system.
WHAT IS ERP:
ERP is a short form of enterprise resource planning. Enterprise resource planning is business process management software that allows an organization to use many applications to manage the business and do many office works like collect, store, manage and interpret the data. This software integrates all faces of an operation including product planning, development, manufacturing, sales and marketing, shipping and payment etc. This software does work related to technology, services and human resources. It is considered as a vital organizational tool as it sis integrates various systems and provide error free results for the system. This software is considered as business application software as it is only designed to be used by large businesses and it often requires teams to do work for the development of the company.
ORIGIN OF ERP:
ERP is the outgrowth of MRP which was referred as Manufacturing Requirement Planning .MRP did the work for only manufacturing so the next generation ERP model was evolved which stretched the system beyond manufacturing. It began to
Enterprise resource planning is a type of software. The main functionality of an ERP is to provide an end-to-end information management solution for a company. This software could be utilized by all departments inside the organization to deal with their data. The goal of enterprise resource planning software is to give right data to right individual and at perfect time.
To be successful in today's competitive and continuous evolving information technology (IT) market companies must be able to utilise their skills, information and knowledge to the highest efficiency level possible. Utilisation of and control over these factors will aid companies in acquiring and maintaining competitive advantages over others operating in the same competitive IT market. The implementation of an Enterprise Resource Planning (ERP) system would be perfect to suit a
Enterprise resource planning enables firms to replace different departmental information systems and database silos with systems that collectively work as a single cross functional database. ERP systems are available for every key business function such as order processing, production control, HR, warehouse, marketing, finance and much more. By having a common technology and database platform throughout the firm, systems and processes from various departments can be integrated that achieve superiority in terms of enhanced cost, operational and productivity benefits. Implementing an ERP system requires careful planning to achieve the targeted benefits and minimize the risk of project failure.
Enterprise Resources Planning (ERP) is the core system of any company. In order to facilitate all departments in a manner to improve issues, there are a few things that must be meet to successfully utilize a software system such as ERP. This allows any member within the company to access a single and centralized data source with information regarding products, services, customers and suppliers (Sadrzadehrafiei, Chofreh, Hosseini, & Sulaiman, 2013). The ability to share and access one software benefits the company to improve in areas such as sales and marketing, customer satisfaction, human resources, operations, and more. In addition, business intelligence tools such as ERP systems provide the techniques and solutions managers need to analyze and understand complex business situations, and simplify decision making processes that is of crucial importance during times of financial and economic crisis (Antoniadis, Tsiakiris, & Tsopogloy, S. 2015). This paper explores the definition and functions of an ERP system and the successes and costs of implementation.
Defined by Investopiedia.com,” Enterprise Resource Planning (ERP) is a process by which a company, usually a manufacturer, manages and integrates the important parts of its business. An ERP management information system integrates areas such as planning, purchasing, inventory, sales, marketing, finance, human resources, etc. (Investopedia).Today, Enterprise Resource Planning (ERP) systems are extremely important, especially towards the Manufacturing Business. Looking back at the history of manufacturing solutions, the industry began with Manufacturing Resource Planning (MRP) systems that, similar to ERP systems, were used for enhancement and basic
Brief review of ERP has shown that in early versions, the system focused on functions of offices only and customer’s data were supposed to be managed by the company’s human resources. However, the recent model of ERP 2 included integrated functions of personnel and customer data, thereby, allowing to relate the information within the company more conveniently. Successfully installed ERP system might include forecasting options with improved efficiency and productivity. Accordingly, the company betters its customer relationship management and customer
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.
The enterprise resource planning (ERP) system is integrated set of programs that provides support for core organizational activities such as manufacturing and logistics, finance and accounting, sales and marketing, e-commerce, payroll and human resources. An ERP system helps the different parts of the organization share data and knowledge, reduce cost, and improved management of business processes.
Enterprise resource planning (ERP) systems attempt to combine data and processes in organizations. The data is centralized as a single database. This database functions as a hub that stores, shares, and circulates data from within the different organizational units and business functions. ERP systems are one of the most adopted information technology (IT) solutions in organizations. Besides the possible cost savings, one of the main drivers for an ERP adoption would be the technical and operation integration of business functions to complement the information stream with the material flow of goods or services. In order for the management and employees to utilize the use of the competitive capabilities of ERP systems, they
The review of literature focused on the definition of Enterprise Resource Planning, its benefits, its evolution and the critical success factors that must be put into consideration if implementation of ERP is to be successful. Enterprise resource planning (ERP) has been defined as a software suite that integrates back-office operations such as manufacturing, finance, accounting, sales, distribution and human resources in an enterprise and links these operations to the front-office and supply chains (Woo, 2007; Usman & Ahmad, 2012). ERP is described as a packaged software solution that seeks to integrate the complete range of business processes and functions in order
ERP stands for Enterprise Resource Planning. ERP is one complete system to rationalise processes and data across the whole organisation, so business decisions can be data driven. The perception of ERP is a joint database that supports numerous purposes used by different business elements which in practice this means that staffs in different departments for example, accounting and sales can
Introduction: Enterprise resource planning is a business process management tool to help business manage and automate many back office functions related to technology, services, accounting, supply chain, inventory, projects and human resources . It is a system which integrates product planning, development, manufacturing, sales and marketing .
In order to develop a new ERP package the available packages should be evaluated before coming to the solution But this pre evaluation should be done with a chosen number of packages since there are hundreds of packages and vendors are available In this stage packages that are not suitable for the company’s business process should be eliminated and only the identified necessary ERP s should be studied extensively using brochures,
ERP management software is a management accounting as the core of the information system, identifying and planning the enterprise resources, thereby obtaining a customer order, complete the processing and delivery, finally get customer payment. FreeEIM ERP management software to integrate all resources within the enterprise together, to the procurement, production, costs, inventory, distribution, transportation, finance, human resource planning, so as to achieve the best resources combination, to achieve the best results. Enterprise in the ever-changing market opportunity and the challenge of the environment, such as price and service level must constantly change and improve enterprise management mode, enhance the competitiveness of enterprises. Just focus on the internal process improvement, product development and the improvement of manufacturing has not enough to meet the current market environment.
Enterprise Resource Planning (ERP) - A process by which a company (often a manufacturer) manages and integrates the important parts of its business. An ERP management information system integrates areas such as planning, purchasing, inventory, sales, marketing, finance, human resources, etc. (Investopedia, 2015)