The paper “ Benefits and Problems of Economic Resource Planning Implementation” is a good example of the case study on management. Economic Resource Planning (ERP) is one of the modern technologies that many companies are embarking on. Research studies show that around 90% of large and small companies have implemented an Economic Resource Planning (ERP) system (Manufacturing Business Technology, 2008). ERP systems are software packages comprising of numerous modules, for example, human resources, sales, finance, and production, ensuring a cross-organizational combination of transaction-based data management during embedded business process support.
These software packages can be modified up to a certain limit to the specific needs of each organization. Though ERP has been described as the most essential development in the business use of technology, it has not been effective enough and therefore has been failed to attain all the results predicted (Ragowsky et al. , 2005). Benefits of implementing an ERP systemFor companies, the basic desired effect of implementing ERP is to get benefits when compared to the present manner of doing things. There are three major benefits that accrue to organizations that have successfully implemented ERP systems: business process computerization, appropriate access to organization information, and improvement in the supply chain through the use of e-commerce and e-communication (Yusuf et al.
2004). Other benefits consist of information visibility, reduced costs, quicker period-end closes, better market receptiveness, greater control over reverse logistics, and others (Cullen et al. , 2007). The business world commonly agrees that information technology should be envisioned as more than just an automation of the business process. The way business is conducted can be tremendously changed by technology information. ERP provides cross-functional, project broad incorporated system with profound functionality for core commerce procedures and data is stored in a centralized way, which make it easily accessible by all the section for retrieval and storage.
Analysis tools are offered to change the information into more significant and useful data to assist the executive in formulating timely decisions. It helps reduce the expenditure by saving precious man time because it can mechanize a variety of procedures extend across the entire association, which are recurring and cooperative.
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