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Chapter: Business Science - Enterprise Resource Planning

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Overview of Enterprise Resource Planning(ERP) software solutions

Enterprise resource planning is now gaining lots of importance among the business economy. It is now being seen as an important tool for managing resources of a company both internally and externally.

Overview of ERP software solutions:

 

Enterprise resource planning is now gaining lots of importance among the business economy. It is now being seen as an important tool for managing resources of a company both internally and externally. It is being used both for many business applications and also for many manufacturing industries.

 

Previously, enterprise resource planning was used only of large business companies. It required lots of money to be invested. Small scale and medium sized companies were not ready to invest a large amount for buying software and employing staffs for managing ERP software.

 

Keeping this in mind, ERP vendors started diversifying their enterprise resource planning software by releasing many versions of the software which could assist small companies too. Also, small sized companies might not require all the tools and customizations available for the big companies. The ERP software got tailored particularly to meet the small sized companies and for increasing the productivity. After this, small sized business people also started buying ERP software which matched their investment amount.

 

From the early 1990’s ERP helped the companies in driving down their cost and also helped them in operating more efficiently. Effective data management also helped streamlining the business process effectively. Planning, manufacturing, marketing, sales and quoting services kept on improving. Stock control, financial tracking and customer service also got better with ERP. Many time consuming and labor related processes were eliminated by the small business with the usage of enterprise resource planning software.

 

Figure 2.1: ERP FUNCTION:

 


 

 

 

 

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