ENTERPRISE RESOURCE PLANNING
DEFINITION
WHAT IS ENTERPRISE RESOURCE PLANNING (ERP) SYSTEM
Enterprise resource planning (ERP) system is the integrated management of main business processes, often in real time and mediated by software and technology. Besides, enterprise resource planning is usually referred to as a category of business management software. In addition, typically a suite of integrated applications. For instance an organization can use to collect, store, manage, and interpret data from many business activities. Moreover, our enterprise resource planning system provides an integrated and continuously updated view of core business processes using common databases maintained by a database management system.
Besides, enterprise resource planning(erp) systems track business resources such as cash, raw materials, production capacity. Besides the status of business commitments such as orders, purchase orders, and payroll. The applications that make up the system share data across various departments (manufacturing, purchasing, sales, accounting) that provide the data. Also ERP facilitates information flow between all business functions and manages connections to outside stakeholders.
In conclusion, our enterprise resource planning system integrates varied organizational systems and facilitates error-free transactions and production. Thereby its enhancing the organization’s efficiency. However, developing an ERP system differs from traditional system development. ERP systems run on a variety of computer hardware and network configurations, typically using a database as an information repository.
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FEATURES
WHY ENTERPRISE RESOURCE PLANNING
We offer a complete Enterprise Resource Planning (ERP) System. This is a all-in-one system which consists of several main systems for business management process. For instance Human Resource Management System(HRMS), Sales and Order Fulfillment System, Purchasing and Procurement Management System, Warehouse and Inventory System, Financial Accounting System and Manufacturing Resouce Plan(MRP II) System.
HUMAN RESOURCE MANAGEMENT SYSTEM (HRMS)
A Human Resources Management System (HRMS) is a form of Human Resources (HR) software that combines a number of systems. Likewise it also processes to ensure the easy management of human resources, business processes and data.
Therefore, human resources software is widely used by businesses to combine a number of necessary HR functions. For instance storing employee data, managing payrolls, recruitment processes, benefits administration, and keeping track of attendance records.
SALES & ORDER FULFILLMENT
Order fulfillment is all the steps a company takes between receiving a new order and placing that order into the customer’s hands.
Besides, the practice involves warehousing, picking and packing the product. Moreover, shipping it and sending an automated email to the customer to let them know the order is in transit.
PURCHASING & PROCUREMENT MANAGEMENT
The procurement management process involves identifying, shortlisting, selecting, and acquiring suitable goods or services. Also works from a third party vendor through a direct purchase, competitive bidding, or tendering process. Meanwhile it also ensuring timely delivery in the right quality and quantity.
In comparison with procurement, purchasing is a small subset of the broader procurement function. In addition this process includes activities like ordering, expediting, receiving, and fulfilling payment.
WAREHOUSE & INVENTORY IN ENTERPRISE RESOURCE PLANNING
Warehousing and inventory management refers to the practices and processes employed to control inventory holding levels, minimise costs and bottlenecks.
In addition, it also help to manage current and future stock requirements, maintain required service levels for internal and external customers and enhance upstream and downstream inventory visibility in the supply chain.
FINANCIAL ACCOUNTING SYSTEM
Financial accounting serves the following purposes: producing general purpose financial statements.
In addition, producing information used by the management of a business entity for decision making, planning and performance evaluation.
Producing financial statements for meeting regulatory requirements.
MANUFACTURING RESOURCE PLAN (MRP II)
Manufacturing resource planning (MRP II) is defined as a method for the effective planning of all resources of a manufacturing company.
Ideally, it addresses operational planning in units, financial planning, and has a simulation capability to answer “what-if” questions and extension of closed-loop MRP.
The system is designed to centralize, integrate, and process information for effective decision making in scheduling, design engineering, inventory management, and cost control in manufacturing.
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