What is ERP software?
ERP is a cross functional enterprise system that integrates all the departments, suppliers and customers under one roof by streamlining the flow of information across all the functional areas of the organization.
ERP software modules
ERP is an integrated application software with multiple modules like manufacturing, supplier and purchase, plant Maintenance, human resource management, sales and distribution,supply chain management, finance, accounting and customer relationship management.
Manufacturing
This module records the data related to manufacturing department of the organization. Recorded data contains the information related to bills of materials, engineering, master production schedule, shop floor, work orders, etc. This helps the business to create a cost effective product in a short period of time.
Inventory management module
This module supports the functions of the inventory department by recording its data such as receipt of goods, delivery of goods, maintenance and classifying the materials, issuing the raw materials to the manufacturing department, etc.
Purchase module
This modules generates and tracks the purchase orders from its issue to the receipts. It helps in identifying potential suppliers, supplier evaluation, vendor quote evaluation, billing processes. It integrates with the inventory control, supply chain management and production planning modules.
Finance management
This module is the core of ERP system. It records the financial data from various functional departments and generates financial reports like financial statements, general ledger, balance sheet etc.
FI module
Financial accounting contains sub modules like general ledger, accounts receivable/payable, fixed assets accounting, etc. This helps take strategic decision making.
Investment management module contains sub modules like investment planning, budgeting, controlling, depreciation, etc.
CO module
It contains planning and control tools. It handles internal accounting, cost center accounting,activity based budgeting. It provides reports to support cost accounting problems.
Supply chain management
This module supports the investment management, purchasing, order management, logistics, procurement etc. The main functions of the supply chain management is sourcing, warehousing of raw materials, scheduling and distribution of products. Therefore, it is critical for business owners to meet with the demand in the market by effective company's operations.
Human resource management (HRM)
This module supports the Human resource department of the organization to function efficiently and effectively. It provides various solutions that enables to handle wide tasks like talent management, recruitment, payroll management, employee administration, time and attendance, performance assessment, training etc.
Customer relationship management (CRM)
Customer is a king and customers are valuable assets for the organization. So, it is responsibility of the organization to satisfy the needs and wants of the customers. A customer relationship management module ensures the proper information flow between the sales and marketing team. This helps in managing the relationship with the customers by addressing their needs and buying patterns.
ERP is a cross functional enterprise system that integrates all the departments, suppliers and customers under one roof by streamlining the flow of information across all the functional areas of the organization.
ERP software modules
ERP is an integrated application software with multiple modules like manufacturing, supplier and purchase, plant Maintenance, human resource management, sales and distribution,supply chain management, finance, accounting and customer relationship management.
Manufacturing
This module records the data related to manufacturing department of the organization. Recorded data contains the information related to bills of materials, engineering, master production schedule, shop floor, work orders, etc. This helps the business to create a cost effective product in a short period of time.
Inventory management module
This module supports the functions of the inventory department by recording its data such as receipt of goods, delivery of goods, maintenance and classifying the materials, issuing the raw materials to the manufacturing department, etc.
Purchase module
This modules generates and tracks the purchase orders from its issue to the receipts. It helps in identifying potential suppliers, supplier evaluation, vendor quote evaluation, billing processes. It integrates with the inventory control, supply chain management and production planning modules.
Finance management
This module is the core of ERP system. It records the financial data from various functional departments and generates financial reports like financial statements, general ledger, balance sheet etc.
FI module
Financial accounting contains sub modules like general ledger, accounts receivable/payable, fixed assets accounting, etc. This helps take strategic decision making.
Investment management module contains sub modules like investment planning, budgeting, controlling, depreciation, etc.
CO module
It contains planning and control tools. It handles internal accounting, cost center accounting,activity based budgeting. It provides reports to support cost accounting problems.
Supply chain management
This module supports the investment management, purchasing, order management, logistics, procurement etc. The main functions of the supply chain management is sourcing, warehousing of raw materials, scheduling and distribution of products. Therefore, it is critical for business owners to meet with the demand in the market by effective company's operations.
Human resource management (HRM)
This module supports the Human resource department of the organization to function efficiently and effectively. It provides various solutions that enables to handle wide tasks like talent management, recruitment, payroll management, employee administration, time and attendance, performance assessment, training etc.
Customer relationship management (CRM)
Customer is a king and customers are valuable assets for the organization. So, it is responsibility of the organization to satisfy the needs and wants of the customers. A customer relationship management module ensures the proper information flow between the sales and marketing team. This helps in managing the relationship with the customers by addressing their needs and buying patterns.
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