(8) List down features of an ideal ERP System.
Answer: Following are some of the ideal features of ERP system:
- An Ideal ERP System satisfies all types of needs of an organization and provides right data and right point of time to right users for their purpose.
- An ideal ERP system is that system where a single database is used and stores all data for various modules.
- Following are some of the modules used in an ideal ERP system :
(1)Manufacturing: Module includes functions like manufacturing process, workflow management, engineering, capacity, quality control etc.
(2)Financials: Module includes accounts and finance related functions like cash management, accounts payable, accounts receivable and fixed assets etc.
(3)Human Resources: Module includes functions like payroll, attendance and training etc.
(4)Supply Chain Management: Module includes functions like Inventory management, purchasing and other supply chain activities.
(5)Projects: Module includes functions of specific projects like activity management, costing, billing and time and expense, etc.
(4)Supply Chain Management: Module includes functions like Inventory management, purchasing and other supply chain activities.
(5)Projects: Module includes functions of specific projects like activity management, costing, billing and time and expense, etc.
(6)Customer Relationship Management (CRM): Purpose of CRM software is to improve services provided to customers and to use the information in the system for improving sales.
(7)Data Warehouse: Data warehouse is a repository of an organization’s electronically stored data. It facilitate reporting and analysis.