Enterprise Resource Planning (ERP) - Its Components and Advantages

Enterprise Resource Planning is software used by many organizations for integrating its data and processes into one system. A unified database for the purpose of storing data is utilized by several systems of an organization. Several departments of an organization make use of integrated database depending upon their authorizations and permissions to access. The essential purpose of Enterprise Resource Planning software is to ensure smooth flow of information throughout an organization and it is also helpful to manage connection with exterior stakeholders. Different hardware and network configurations are supported by ERP software.

Several levels of organizations make use of ERP system for managing payroll and accounting. Functions like supply chain management, Human Resource management, warehouse management and many more can be incorporated by any organization using Enterprise Resource Planning software.


Evolution of ERP:
Inventory Control - > Material Requirements Planning (MRP) - > Manufacturing resource planning II (MRP II) - > Enterprise resource planning

Enterprise Resource Planning (ERP) - Its Components and Advantages

Components of ERP:

HR- Human Resources:
- HR management
- Payroll
- Planning (Workforce & shift)

- General Ledger
- Asset & Treasury Management
- Accounts (Receivable & Payable)
- Controlling

Sales and Distribution
- Customer Management
- Sales order mgmt
- Billing, invoice & dispatch
- Sales history

Materials Management
- Procurement
- Inventory Management

- Warehouse management
- Transport Management

Advantages of EPR Software:

- ERP integrates all business processes and reduces paper work.
- Order tracking helps in improving Customer relationship management.
- Helpful in eliminating data duplication and is useful in faster information processing.
- Decision making becomes easy for management and is useful in generating quick reports.
- Efficiently manages financial information.
- ERP software guarantees security is helpful in preventing industrial espionage.

Enterprise Resource Planning (ERP) - Its Components and Advantages

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