What Is ERP?
ERP is planned to manage all the information and functions of a business or company.
Integration is an extremely important part to ERP’s. ERP’s main goal is to put together all the data and processes from all areas of an organization and bring together it for easy access and work flow. This integration is achieved by creating one single database that employs multiple software modules providing different areas of an organization with various business functions.
Advantages of implementing an ERP system:
- A totally integrated system
- The ability to make more simple different processes and workflows
- The ability to easily share data across various departments in an organization
- Improved efficiency and productivity levels
- Better tracking and forecasting
- Lower costs
- Improved customer service
Features in ERP:
Manufacturing: Some of the functions include; engineering, capacity, workflow management, quality control, bills of material, manufacturing process, etc.
Financials: Accounts payable, accounts receivable, fixed assets, general ledger and cash management, etc.
Accounting – general ledger, accounts receivable and payable, bank reconciliation, financial reporting
Human Resources: Benefits, training, payroll, time and attendance, etc
Supply Chain Management: Inventory, supply chain planning, supplier scheduling, claim processing, order entry, purchasing, etc.
Projects: Costing, billing, activity management, time and expense, etc.
Customer Relationship Management: sales and marketing, service, commissions, customer contact, calls center support, etc.
Data Warehouse: Usually this is a module that can be accessed by an organizations customers, suppliers and employees.
Materials Management — Manage inventory receipts, shipments, moves and counts across your warehouses, suppliers and customers.
Order Management — Create quotes, book orders, manage materials, generate invoices and collect cash.
E-Commerce — Create and run a secure web store front.
Master Data Management – Products, components, bills of materials, customers, vendors, and employees
Procurement Management – Rates, purchase orders, goods receipts, invoice registration and accounting, purchase planning
Project and Service Management – Projects, phases, tasks, resources, budget, expenses and expense invoicing, related purchases
Production Management – Plant structure, production plans, BOM’s, MRP, manufacturing orders, job reports, costs of production, work incidences, preventive maintenance types
Business Intelligence (BI) – Reporting, multidimensional analysis (OLAP), balanced scorecards.