ENTERPRISE RESOURCES PLANNING

 ENTERPRISE RESOURCES PLANNING

Enterprise resource planning (ERP) is a process used by companies to manage and integrate the important parts of their businesses. Many ERP software applications are beneficial to businesses because they assist them in implementing resource planning by incorporating all of the processes required to operate their businesses into a single framework. An ERP software system can also integrate planning, purchasing inventory, sales, marketing, finance, human resources, and more.

The benefits of ERP are:

-       Increased synergies between different business sectors

-       Increased efficiencies as procedures are simplified and information is readily available to those who need it

-       Decreased costs associated with obsolete and ineffective technology

 

For example, due to the development of the Internet of Things (IoT), it's no secret that Internet-fueled or cloud-based applications are on the rise. As a result, more companies are moving away from on-site ERP systems to adopt the more agile, cloud-based ERP system, managed and maintained by the host or vendor. Oracle, a well-known name in the tech industry, offers a number of cloud-based ERP products used by many household brands, such as FedEx, Blue Cross, and Blue Shield.