What is ERP (detailed)
ERP integrates many functional areas within an organization so that these functions and departments have access to standardized records and these functions are able to effectively communicate and share information with each other.
1. w/internet, Customer Relationship Managment, and many aspects of SCM, erp systems can handle entire processes assocated w/customer order from cradle to grave.
2. Contributes to productivity
3. Use of ERP Systems not limited to certain kinds of industries, products, or organization types
4. Challenge to ERP Providers (peoplesoft etc)=to develop comprehensive, up to date adn relevent tech solutions for companies seeking ERP systems.
5. Evolved to adapt to nearly every business type
6. obstacles need to be overcome to adapt to ERP systems.
7. ERP systems require employee training and development. Training cost usually very high.
8. Payback time for ERP systems can be anywhere from 2-10 years.