Enterprise resource planning (ERP) is business management software that allows an organization to use a system of integrated applications to manage the business.
ERP is an acronym for Enterprise Resource Planning, but even its full name doesn't shed much light on what ERP is or what it does. For that, you need to take a step back and think about all of the various processes that are essential to running a business, including inventory and order management, accounting, human resources, customer relationship management (CRM), and beyond. At its most basic level, ERP software integrates these various functions into one complete system to streamline processes and information across the entire organization.
The central feature of all ERP systems is a shared database that supports multiple functions used by different business units. In practice, this means that employees in different divisionsโfor example, accounting and salesโcan rely on the same information for their specific needs.
ERP is an acronym for Enterprise Resource Planning, but even its full name doesn't shed much light on what ERP is or what it does. For that, you need to take a step back and think about all of the various processes that are essential to running a business, including inventory and order management, accounting, human resources, customer relationship management (CRM), and beyond. At its most basic level, ERP software integrates these various functions into one complete system to streamline processes and information across the entire organization.
The central feature of all ERP systems is a shared database that supports multiple functions used by different business units. In practice, this means that employees in different divisionsโfor example, accounting and salesโcan rely on the same information for their specific needs.
What is an ERP system? This guide explains what an ERP system is and how it works for your business.
Two primary concerns of any business are efficiency and profitability. This is basically what an ERP system is designed to optimize.
An ERP system allows you to perform the necessary money-making processes of your business as efficiently as possible.
To achieve a level of efficiency and profitability, a business aims to maximize itโs bottom line while keeping overhead costs low.
An ERP system provides a business with management software that fosters productivity.
The term โERPโ stands for Enterprise Resource Planning.
Basically, an ERP system is a shared database that reflects the moving parts of a company. This provides a much broader, top-down perspective of your business.
Installing an ERP system will grant you a much fuller picture of what is actually going on, in any given period of time.
Some processes in which you can gain some business insights include: sales, human resources, inventory, purchasing, finances, online ordering and many more buckets.
The main objective of an ERP system is to improve how your business resources are spent, and that means money and time. By taking a wide-view, and analyzing every aspect of your business, you will be able to decide if you are properly deploying your resources in a way that will drive maximum profitability.
We have to learn ERP because in future if we get to develop an ERP module or work on it, then we must understand the business needs that it is trying to fulfill.
When we clearly understand the functioning of a department in an enterprise, then we will be able to develop a module to automate it.
We also need to understand the interaction between modules.
SAP was founded in 1972 in Walldorf, Germany. It stands for Systems, Applications and Products in Data Processing. Over the years, it has grown and evolved to become the world premier provider of client/server business solutions for which it is so well known today. The SAP R/3 enterprise application suite for open client/server systems has established a new standards for providing business information management solutions.
SAP product are consider excellent but not perfect. The main problems with software product is that it can never be perfect.
The main advantage of using SAP as your company ERP system is that SAP have a very high level of integration among its individual applications which guarantee consistency of data throughout the system and the company itself.
In a standard SAP project system, it is divided into three environments, Development, Quality Assurance and Production.
The development system is where most of the implementation work takes place. The quality assurance system is where all the final testing is conducted before moving the transports to the production environment. The production system is where all the daily business activities occur. It is also the client that all the end users use to perform their daily job functions.
To all company, the production system should only contains transport that have passed all the tests.
SAP is a table drive customization software. It allows businesses to make rapid changes in their business requirements with a common set of programs. User-exits are provided for business to add in additional source code. Tools such as screen variants are provided to let you set fields attributes whether to hide, display and make them mandatory fields.
This is what makes ERP system and SAP in particular so flexible. The table driven customization are driving the program functionality instead of those old fashioned hard-coded programs. Therefore, new and changed business requirements can be quickly implemented and tested in the system.
Many other business application software have seen this table driven customization advantage and are now changing their application software based on this table customizing concept.
In order to minimized your upgrading costs, the standard programs and tables should not be changed as far as possible. The main purpose of using a standard business application software like SAP is to reduced the amount of time and money spend on developing and testing all the programs. Therefore, most companies will try to utilized the available tools provided by SAP.
What is an ERP system? This guide explains what an ERP system is and how it works for your business.
Two primary concerns of any business are efficiency and profitability. This is basically what an ERP system is designed to optimize.
An ERP system allows you to perform the necessary money-making processes of your business as efficiently as possible.
To achieve a level of efficiency and profitability, a business aims to maximize itโs bottom line while keeping overhead costs low.
An ERP system provides a business with management software that fosters productivity.
The term โERPโ stands for Enterprise Resource Planning.
Basically, an ERP system is a shared database that reflects the moving parts of a company. This provides a much broader, top-down perspective of your business.
Installing an ERP system will grant you a much fuller picture of what is actually going on, in any given period of time.
Some processes in which you can gain some business insights include: sales, human resources, inventory, purchasing, finances, online ordering and many more buckets.
The main objective of an ERP system is to improve how your business resources are spent, and that means money and time. By taking a wide-view, and analyzing every aspect of your business, you will be able to decide if you are properly deploying your resources in a way that will drive maximum profitability.
We have to learn ERP because in future if we get to develop an ERP module or work on it, then we must understand the business needs that it is trying to fulfill.
When we clearly understand the functioning of a department in an enterprise, then we will be able to develop a module to automate it.
We also need to understand the interaction between modules.
SAP was founded in 1972 in Walldorf, Germany. It stands for Systems, Applications and Products in Data Processing. Over the years, it has grown and evolved to become the world premier provider of client/server business solutions for which it is so well known today. The SAP R/3 enterprise application suite for open client/server systems has established a new standards for providing business information management solutions.
SAP product are consider excellent but not perfect. The main problems with software product is that it can never be perfect.
The main advantage of using SAP as your company ERP system is that SAP have a very high level of integration among its individual applications which guarantee consistency of data throughout the system and the company itself.
In a standard SAP project system, it is divided into three environments, Development, Quality Assurance and Production.
The development system is where most of the implementation work takes place. The quality assurance system is where all the final testing is conducted before moving the transports to the production environment. The production system is where all the daily business activities occur. It is also the client that all the end users use to perform their daily job functions.
To all company, the production system should only contains transport that have passed all the tests.
SAP is a table drive customization software. It allows businesses to make rapid changes in their business requirements with a common set of programs. User-exits are provided for business to add in additional source code. Tools such as screen variants are provided to let you set fields attributes whether to hide, display and make them mandatory fields.
This is what makes ERP system and SAP in particular so flexible. The table driven customization are driving the program functionality instead of those old fashioned hard-coded programs. Therefore, new and changed business requirements can be quickly implemented and tested in the system.
Many other business application software have seen this table driven customization advantage and are now changing their application software based on this table customizing concept.
In order to minimized your upgrading costs, the standard programs and tables should not be changed as far as possible. The main purpose of using a standard business application software like SAP is to reduced the amount of time and money spend on developing and testing all the programs. Therefore, most companies will try to utilized the available tools provided by SAP.
Why ERP?
โOrganisations often choose to implement a system of ERP applications when they want to standardize processes and streamline functionality across many varying departments within an organisation or enterprise.โ
ESOLPK offers Enterprise Solution Services, Microsoft Dynamics ERP and business solutions, Microsoft Dynamics GP, Microsoft SharePoint and Microsoft Dynamics CRM.
A detailed presentation related to ERP Systems in Oracle. It is very popular for any firm/organization to work in their platform and solve the business work and provide solution. Software development processes helps to built software using Agile models.
A complete guide of Oracle ERP System. It is the most advanced system of current market scenario. A brief written content with the help of researchers, scientists and engineers. Oracle is targeting the current ERP market and increasing their productivity and providing a better solution for Organizations to improve there business.
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With changing times, the competency has increased and the need to change and evolve has become a necessity. With businesses flourishing with time, the need for managing all the data becomes a problem. But now there is a solution for integrating all major business procedures. The slick flow of data would have proper functioning and enable firm decisions. This all would be possible because of Enterprise Resource Planning or ERP software solutions.
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Daily habits of successful people are the millionaire secrets who have followed this to change their lifestyle, their habits which leads them to the path of success.
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Maslow's hierarchy of needs is a theory in psychology proposed by Abraham Maslow in his 1943 paper "A Theory of Human Motivation" in Psychological Review.Maslow subsequently extended the idea to include his observations of humans' innate curiosity. His theories parallel many other theories of human developmental psychology, some of which focus on describing the stages of growth in humans. Maslow used the terms "physiological", "safety", "belongingness" and "love", "esteem", "self-actualization", and "self-transcendence" to describe the pattern that human motivations generally move through.
Maslow studied what he called exemplary people such as Albert Einstein, Jane Addams, Eleanor Roosevelt, and Frederick Douglass rather than mentally ill or neurotic people, writing that "the study of crippled, stunted, immature, and unhealthy specimens can yield only a cripple psychology and a cripple philosophy. Maslow studied the healthiest 1% of the college student population.
Maslow's theory was fully expressed in his 1954 book Motivation and Personality.The hierarchy remains a very popular framework in sociology research, management training[6] and secondary and higher psychology instruction.
Globalization refers to the trend toward countries joining together economically, through education, society and politics, and viewing themselves not only through their national identity but also as part of the world as a whole.
A comprehensive evaluation of an investor's current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans.
Most individuals work in conjunction with an investment or tax professional and use current net worth, tax liabilities, asset allocation, and future retirement and estate plans in developing the plan. These will be used along with estimates of asset growth to determine if a person's financial goals can be met in the future, or what steps need to be taken to ensure that they are.
Supply chain management is the streamlining of a business' supply-side activities to maximize customer value and to gain a competitive advantage in the marketplace. Supply chain management (SCM) represents an effort by suppliers to develop and implement supply chains that are as efficient and economical as possible. Supply chains cover everything from production, to product development, to the information systems needed to direct these undertakings.
Meditation and Hypnosis Similarities and DifferencesAnkesh Gorkhali
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Meditation:
A means of transforming the mind. Buddhist meditation practices are techniques that encourage and develop concentration, clarity, emotional positivity, and a calm seeing of the true nature of things.
Hypnosis:
The induction of a state of consciousness in which a person apparently loses the power of voluntary action and is highly responsive to suggestion or direction.
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Investors commonly perform investment decision by making use of fundamental analysis technical analysis and judgment.
It is assumed that information structure and the factors in the market systematically influence individuals investment decisions as well as market outcomes.
Individual Equity Investor makes market behavior derives from psychological principles of decision making to explain why people buy or sell stocks. These factors will focus upon how investors interpret and act on information to make investment decisions.
DEFINITION of 'Operating Leverage'
A measurement of the degree to which a firm or project incurs a combination of fixed and variable costs.
1. A business that makes few sales, with each sale providing a very high gross margin, is said to be highly leveraged. A business that makes many sales, with each sale contributing a very slight margin, is said to be less leveraged. As the volume of sales in a business increases, each new sale contributes less to fixed costs and more to profitability.
2. A business that has a higher proportion of fixed costs and a lower proportion of variable costs is said to have used more operating leverage. Those businesses with lower fixed costs and higher variable costs are said to employ less operating leverage.
Financial Leverage:
Financial leverage is the degree to which a company uses fixed-income securities such as debt and preferred equity. The more debt financing a company uses, the higher its financial leverage. A high degree of financial leverage means high interest payments, which negatively affect the company's bottom-line earnings per share.
Financial risk is the risk to the stockholders that is caused by an increase in debt and preferred equities in a company's capital structure. As a company increases debt and preferred equities, interest payments increase, reducing EPS. As a result, risk to stockholder return is increased. A company should keep its optimal capital structure in mind when making financing decisions to ensure any increases in debt and preferred equity increase the value of the company.
DEFINITION of 'Leverage'
1. The use of various financial instruments or borrowed capital, such as margin, to increase the potential return of an investment.
2. The amount of debt used to finance a firm's assets. A firm with significantly more debt than equity is considered to be highly leveraged.
Leverage is most commonly used in real estate transactions through the use of mortgages to purchase a home.
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Cracking the Workplace Discipline Code Main.pptxWorkforce Group
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Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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2. What is ERP?
๏ฎ Enterprise resource planning (ERP) is business management
software that allows an organization to use a system of integrated
applications to manage the business.
๏ฎ Being Specific ERP systems are large computer systems that
integrate application programs in accounting (i.e., accounts
receivable), sales (i.e., order booking), manufacturing (i.e., product
shipping) and the other functions in the firm.
3. ๏ฎ A typical ERP system will use multiple components of
computer hardware and software to achieve the integration.
๏ฎ A key ingredient of most ERP systems is the use of a unified
database to store data for various system modules.
๏ฎ Broken down into business processes
๏ฎ HRM
๏ฎ Distribution
๏ฎ Financials
๏ฎ Manufacturing
4. Objective of ERP
๏ฎ 1. Enhance productivity, flexibility and
customer responsiveness
๏ฎ 2. Eliminate costs and inefficiencies
๏ฎ 3. Data consistency
๏ฎ 4. Extend your business using the
Internet
๏ฎ 5. Improve Service Experience
๏ฎ 6. Modernize Business Processes and
Systems
5.
6. Scope of ERP
๏ฎ Complete visibility into all the important processes,
across various departments of an organization
(especially for senior management personnel).
๏ฎ Automatic and coherent workflow from one
department/function to another, to ensure a smooth
transition and quicker completion of processes.
๏ฎ A unified and single reporting system to analyze the
statistics/status etc. in real-time, across all
functions/departments.
๏ฎ ERP systems are more secure as centralized security
policies can be applied to them. All the transactions
happening via the ERP systems can be tracked.
8. Selecting ERP Vendors
๏ฎ Depending on your organization's size and needs there are a number
of enterprise resource planning software vendors to choose from in
the large enterprise, midmarket and small business ERP markets.
๏ Large EnterpriseERP (ERP TierI)
The ERP market for large enterprises is dominated by three
companies: SAP, Oracle and Microsoft.
9. ๏ MidmarketERP (ERP TierII)
For the midmarket vendors include Infor, QAD, Lawson,
Epicor, Sage and IFS.
๏ Small BusinessERP (ERP TierIII)
Exact Globe, Syspro, NetSuite, Visibility, Consona, CDC
Software and Activant Solutions round out the ERP vendors
for small businesses.
10. Benefits for adopting ERP
๏ฎ Integrate financial information.
๏ฎ Integrate customer order information.
๏ฎ Standardize and speed up operations processes.
๏ฎ Reduce inventory.
๏ฎ Standardize Human Resources information .
๏ฎ Common definitions.
๏ฎ Common database.
๏ฎ Update one module, automatically updates others.
๏ฎ ERP systems reflect a specific way of doing business.
๏ฎ Must look at your value chains, rather than functions.
11. Limitations of ERP
๏ฎ High cost.
๏ฎ Forced change of processes.
๏ฎ Lack of trained people.
๏ฎ Implementation timelines.
๏ฎ Availability of internal technical knowledge and resources.
๏ฎ Education and training.
๏ฎ Implementation strategy and execution.
๏ฎ Resistance to change.