BCO6603, The Importance of Enterprise Resource Planning

Added on -2020-02-18

| BCO6603| 16 pages| 4113 words| 47 views

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Running head: ENTERPRISE RESOURCE PLANNINGEnterprise Resource PlanningName of StudentName of UniversityAuthor Note
1ENTERPRISE RESOURCE PLANNINGTable of contentsIntroduction................................................................................................................................2Concept of Enterprise Resource Planning..................................................................................2Characteristics of ERP...............................................................................................................3Reasons for failure of retail supply chain transformation..........................................................6Business model related to ERP..................................................................................................8Recommendation......................................................................................................................11Conclusion................................................................................................................................12Reference..................................................................................................................................13
2ENTERPRISE RESOURCE PLANNINGIntroductionThe purpose of the assignment is to analyse the importance of enterprise resourceplanning and the implications of it in the modern world. A particular topic regardingenterprise resource planning and its concept are identified. Enterprise Resource Planning(ERP) is a management tool used for understanding complex business processes. It istypically used for all management purpose in order to identify the processes that take place inan organisation. The assignment focuses on the characteristics of ERP along with itsapplication in the modern world. The topic for the assignment is the reasons behind thefailure of a retail supply chain. Relevant models are identified and recommendations areprovided for improving the retail supply chain. In order to complete, the assignment thedepartmental store Myer is analysed along with its ERP system.Concept of Enterprise Resource PlanningAccording to Leon (2014), Enterprise Resource Planning system or ERP is consideredas a management system that is mediated by the use of software and technology. ERPstretches its use on the various aspects of a business organisation. Activities related tobusiness are conducted by the application of ERP. It provides an updated view of thetechniques to be used for the success of an organisation. Activities such as planning ofproduct, manufacturing, marketing, sales and inventory management and so on are includedin the process of ERP. It helps in maintaining a track on the business resources such as arequirement of raw materials, a capacity of production, orders and balance of an organisation.One of the biggest advantages of ERP is the fact that it integrates organisational systems andhelps in conducting error-free operations that are useful for the purpose of a business.However, Esendemirli, Turker and Altuntas (2015) stated that the development of ERPsystem is different from the development of the traditional system. Despite this problem, the
3ENTERPRISE RESOURCE PLANNINGuse of ERP has increased in every organisation. Large and small organisations utilise ERP inorder to establish itself in the market.Figure 1: Business activities using ERP(Source: Shaul and Tauber 2013)Characteristics of ERPAfter analysing the role of ERP, the characteristics of the system can be easilyidentified. The characteristics include:1.Flexibility- In the modern world, the change in a type of business is done on a regularbasis. This is mainly due to the change of rules, regulations, policies and regional lawsthat continuously change the modern business world (Hoch and Dulebohn 2013). In orderto cope up with these changes, it is necessary for every business organisation to remainflexible and adapt to the changes. Similarly, in the context of ERP, this flexibility needsto be maintained concerning the changes in the business organisation. The organisationsProductionSalesDistributionAccounting

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