Senior Vice President - Enterprise Solutions & Indian Operations
Originally the Enterprise Resource Planning (ERP) was Manufacturing Resource Planning (MRP II) that followed by Material Requirements Planning (MRP) further evolved into ERP when a company’s capability planning became part of the standard software activity.
ERP systems handle the Manufacturing, Logistics, Inventory Management, Sales, Shipping, Invoicing, Accounting, Quality Management, and Human Resource Management for a company.
Today’s trends in business practices due to market conditions, regulatory or compliance requirement have brought the fundamental shift the way have brought in a fundamental shift the way we look at our business process or changing requirement by emphasizing more on business process and also leveraging on web technology.
Business Intelligence (BI) is embedded as a part of the ERP system. It helps in making decisions real time.
The following features as part of the new generation ERP have become inevitable for business:
more focus on end to end business process
1. ability to connect multiple applications to meet end to end process
2. collaboration facility happens with customer, supplier and partners
3. assembling business component available in the software repository/factory using business process to build applications
4. configure heavy business rules during run time by end users
5. ability to connect non core applications with social networking or business connectivity web sites
6. application delivery should support cloud model, on premises or hybrid
7. message based component architecture – model driven or component driven architecture; all components will be architected and open for interfacing with third party application
To determine the appropriate ERP applications for the business, companies must familiarize themselves with ERP systems to gain competitive advantage. Companies that have no intention of using any of these new applications today will inevitably use them within the next two to five years.