Enterprise Resource Planning (ERP) – Explained

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Modern businesses are extensively using Enterprise Resource Planning, software for business management to integrate various applications to run the business effectively. Business operations like a manufacturing process, inventory management, sales & marketing, product planning and development can be integrated using ERP software. The fundamental business processes are supported by integrating applications using this software. It gives the organization scope to view the business process real time in one single view, whether it is production, inventory management or order processing. SMEs can rely on service providers like EAZY ERP, Genius Solutions ERP, Sage ERP, among other tools to integrate the business process into one system. The service industry is growing at a rapid pace, and ERP has a great role to play, informs analytics-magazine.org/serving-the-services-industry/.

Emergence Of ERP
The term ERP first used as an extension of Material Requirements Planning (MRP) by Gartner Group in the year 1990. ERP today integrates various applications moving ahead of manufacturing. It is to be remembered that ERP packages are not developed from the manufacturing core alone. Later vendors began to create packages for accounts, human resources, and maintenance. ERP system started to address all the core issues of enterprises by the middle of the 1990s. It spread its wings to governments, corporations, and non-profit organizations.

Benefits Of ERP Software
· Systematic execution of orders
· Improved customer service and satisfaction
· Quick manufacturing process without compromise on accuracy
· On time delivery
· Minimized errors when compared to manual steps
· Checks inventory levels and reorders regularly
· Critical information delivered on time

Features of ERP Software
· Advanced planning
· Customer service
· Order management
· Scheduling
· Inventory management
· Document management
· Analytics
· Automation
· Personalized framework
· Site operations
· E-commerce portals
· Sales management

ERP caters to both supply and demand. The sales are improved using ERP system. It can generate quick purchase orders and other transactions at great speed. The ERP system will approve direct purchase requirements thereby removing any intervention. An ideal ERP system should include functional fit, flexibility, support, continuity, and maturity. It has developed as an important competing tool as it can be integrated with separate organizational systems by promoting flawless production and transactions. It is customized to meet the organization demands, based on the employee and user numbers. The mid-market segment has better features when compared to small business bundles. Among these enterprise-grade versions are highly complex.

The ERP solution has to be chosen based on the organization functions like inventory management, accounting, and product configurations. There are exclusive products laying focus on manufacturing, production and the like. Some come with multiple support functions which may go waste if you do not have a facility to manage. Therefore, opting for customized ERP solutions could prove to be beneficial in the long run. Moreover, it can be a cost-saving initiative as well.

ERP is available as SaaS cloud model or On-Premises installation or combination of the two. Again, you can choose a model based on the requirement of your organization. Hence, if you wish to build your business and stay technologically advanced turn to the best ERP solution and watch the magic it does to your business!

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