Enterprise Resource Planning (ERP)

Abstract

ERP consolidates all of the operational business processes under one umbrella, in one system. It stores the product tree, ordering and scheduling of materials and parts arrival, it reduces and replenishes inventory, manages warehousing, invoices, payments and more. The ERP system leverages operations planning, unites financial management, inventory management and establishes one financial baseline for commercial and operational transactions. The ERP implementation project is complex and involves all of the activities in the organization. Therefore, it needs to be planned and executed with a large amount of specific knowledge and previous ERP experience.