Benefits of ERP Systems for Retail Business

Running Head: ERP 1
Management
Information System
Student Details
4/28/2019

EPR 2
Contents
Problem Statement:..........................................................................................................................3
Proposed Solution:...........................................................................................................................3
Enterprise Resource Planning (ERP)...............................................................................................3
Benefits of ERP Systems.............................................................................................................3
Limitations of ERP Systems........................................................................................................5
Brands which are Offering ERP......................................................................................................5
Bibliography....................................................................................................................................8

EPR 3
CEO
XXX
28-04-19
Problem Statement: Organization is facing various critical problems such as bulging
inventories and poor customer fill rates which require immediate attention and solution.
Proposed Solution
Our organization has becoming a large organization with each passing day. Due to the
business expansion of xxx, now company has an excess of inventory which is causing problems
such as difficulty in keeping our customers satisfied by meeting their changing demands. I as a
manager of the company have carried out several researches in order to come up with a solution
to this problem. I have analysed that the main reason behind all these problems that our
organization is currently facing is due to its outdated IT technology systems. Hence, I discovered
that implementing an Enterprise Resource Planning (ERP) system is beneficial for the
organization and help our company in its business expansion and managing better customer
services.
Enterprise Resource Planning (ERP)
An ERP system allows an organization to integrate its various business functions such as
purchasing, sales, planning, finance, purchasing, human resources, marketing, and inventory. It
is software which is capable of integrating various applications of a business (Haddara &
Zach, 2011).
ERP has become an unavoidable need of our retail business. Due to increasing
competition in the market, it has become important for our organization to implement ERP
systems in order to sustain and keep up with the changing demands of customers (Capterra,
2019). ERP systems consist of customizable applications which will enable our organization to
integrate and manage all of its key operations along with handling of multi-location stores,
pricing changes, moving stocks frequently, discount offers on products, and several others.
Management of these functions manually is complicated and lengthy, however ERP software is
able to provide faster, reliable, and simpler solutions for management which are needed to run
our business more efficiently (Master, 2018).
Benefits of ERP Systems
Below are the seven advantages of ERP system for our business:
1. Reliable Business Information: An ERP system will collect business information from
our several subdivisions which include sales, inventory, purchase, and other units. The