Enterprise resource planning (ERP) is a software used tooversee entire business cycle—usually a suite of coherent applications—that a company can use to store and handle data from every phase of commercial enterprise which involves Merchandise planning, monetary value and growth, Manufacturing, Marketing and sales, it involves inventory management, Shipping and payments.
In 1990, Gartner Group first used the acronym ERP as an elongation of material requirements planning (MRP), leather manufacturing resource planning and data processor-integrated manufacturing.It represents a bigger whole that reflects the development of application integration beyond manufacturing.
Business Value of ERP
Gives a global, real-time view of data that can enable companies to address concerns proactively and drive improvements
Delivers the proven, comprehensive financial management capacities needed to grow a changing, complex job.
Provides a common database that support for all application.
Consistent look and feel across modules.
Components of ERP
Business Analytics: Analytics should have hands on experience on what your company is about or in which domain your organization works.Business analytics focuses on developing new insights and understanding of business execution based ondata andstatistical methods. Analysis of customer requirementstakes place and as per the requirement work is performed.
Sales: A sale is the act of selling a product or serve in return for money or other recompense.After completion of analysis sale process takes place. As per the requirements of customer deliverables are delivered.
Purchase: This process takes place at customers end. They acquire the product by paying for it.
Financial Management: This department basically looks after or takes care of all the formalities related to finance. Main aims of this process it to effectively manage capital or finds. Itcollects finance for the company at a low cost and then uses this finance for earning maximum profit.
Mails: This is way of communication or interchange of documents and relevant information between the customers and the client. It helps in providing efficient result to customers.
CRM: A system which is used to keep the information between existing and succeeding employee.
Projects: It is a work system which comprises of teams across organizations to accomplish particulartasks under time constraints.
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