IT assignment help essay on: ERP & Its importance
ERP is a trend which is in great use now-a-days in a number of companies. It helps us in the free flow of information throughout all the departments in the company as well as the departments outside the company. Each and every company has its own set of plans or ideologies in the ERP system and helps in the proper integration of different information to bring up a single and solid information source. The basic idea behind preparing this report is to make everybody aware of the importance of integration to companies in various forms. There are a number of issues which occur due to lack of integration and a whole lot of issues are discussed here in detail and to overcome those problems there are various methods as well. A discussion related to the benefits a company can incur out of implementing this ERP is also mentioned here in the report. Finally, to have a clear understanding of ERP, its benefits, issues arising in the company due to lack of ERP and what methods and procedures a company adopts to deal with those issues, two cases of the company- Rolls Royce and Sony Corporation have been discussed here in detail in this report. The case study tells us about the old systems of work company had adopted earlier and the problem or the shortcomings emerging out of those systems. Then it tells us about the ways and means adopted by ERP to overcome the specific issues in each company and then the smooth working of the company.
The term ERP was first introduced by Gartner Group, in 1990. ERP deals with planning the resources in an enterprise. The main function for which ERP systems are designed is to integrate business functions and allow data to be shared across many boundaries and divisions within the company (Zaveri, 2012). It is mainly a computer based software system which is used by a number of companies to manage all the organizational resources which is being used in the company. It helps the different departments to mingle amongst all to work upon a single unified data which is very authentic in nature. Both, small and large companies use it various purposes. This term includes a wide range of activities which helps a business in managing its important part into a whole lot. The main purpose of the ERP process is to maintain a free flow of information among all the departments inside the boundary of the company as well as to manage the same function outside the organization as well. ERP software applications can be used to manage product planning, parts purchasing, inventories, interacting with suppliers, providing customer service, and tracking orders. It also works as an important tool for the finance and human resources department of a business firm. We should keep in mind that this is not some kind of software, this is an ideology. By collaborating different functions of a company together into one single large integrated system, it provides a number of opportunities for growth and increased productivity. Enterprise Resource Planning is the latest solution which information technology has provided to business application. The ERP solutions works on streamlining and integrating different processes and in the same way information flows in the company to make different resources of an organisation, namely men, material, money and machine to work as a whole. It is common database which supports all the applications and operates in almost real time, without relying on periodic updates (Tarn, Yen and Beaumont, 2002).
The difference between the successful, fast growing company and the average company is the know-how of small things in the organization. At some point of the lifecycle of an enterprise, the need of such a system becomes inevitable. As the company grows, its control on the different departments becomes more and more difficult task and here an integrated solution, like ERP software, comes out to be really helpful (Davenport, 1998).
There are various functional areas which are very well covered by an ERP system. Namely, Financial Accounting, Management Accounting, Human Resources, Manufacturing, Project Management, Supply Chain Management, Customer Relationship Management (Shepherd, 2011).
ERP systems are that they are built on a single comprehensive database to share information across the enterprise. Most companies have more than just an ERP system and many also want to exchange information and documents with trading partners. Since internet has become an important part of our personal and professional lives, so, different organizations find that a strong web presence allows them to increase number of customers and sales through those customers and current customers (Magal and Word, 2011).
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