PROJECT REPORT
ON
FUTURE TRENDS IN ERP
ACADEMIC SESSION
2017-2019
UNDER THE GUIDANCE OF:
“DR. PARUL SINHA”
ASSISTANT PROFESSOR
SUBMITTED BY:
VANLALFELPUIA ROYTE
ENROLMENT NO: 170010301016
GD GOENKA UNIVERSITY
SOHNA ROAD, GURGAON – 122103, HARYANA, INDIA
INTRODUCTION TO ERP
ERP is a short term for Enterprise Resource Planning, which is business management system
that integrates all facets of the business such as manufacturing operations, supply chain,
customers, human resource and finance. It can also be defined as a business management
software that is fully integrated business management software to link business process
automatically and give real time information to authorized users. ERP systems are the
information backbone of the company. It serves as central nervous system and termed as
digital nervous system of the company. It refers to in house developed or commercially
available software solutions which provide an integrated suite of IT applications that support
the activities of the organization as a whole. Some of the process includes product planning,
parts purchasing, maintaining inventories, interacting with suppliers, providing customer
service and tracking orders. ERP can also include application modules for the finance and
human resources aspects of a business.
Financial Systems – Accounts receivable & payable, Cash planning & management,
Cost accountancy, General ledger, Product cost accounting, Profit center analysis,
Profitability analysis, Executive information system, Asset Accounting, Standard
Costing.
Human Resources – Payroll, Manpower planning, Travel expenses, HR accounting.
Operational Logistics – Inventory management, MRP, Plant management, Production
planning, Project management, Purchasing, Quality management, Routing,
Dispatching, Vendor analysis.
Sales & Marketing – Sales order, Pricing, Sales planning, Sales management.
OBJECTIVES OF ERP
Replace inefficient systems with one that is functionally integrated.
Provide a state-of-the-art technical infrastructure to better serve employees, faculty,
staff, and other members of the organization.
Empower users with more control over system function, service, and scheduling.
Utilize a completely web-based system.
Eliminate paper and forms where feasible and sensible.
Provide easy access to data and information without compromising security and
regulatory requirements.
Develop new, more efficient processes that fully leverage the technology investment.
Eliminate data and knowledge silos on campus.
Enforce Organization policy and procedures.
CONCLUSION
Enterprise Resource Planning (ERP) is a system that integrates business functions
by managing and organizing organizational data and information. ERP is the most reliable
system for the management of data, ensuring its reliability, uniformity, transparency and
visibility across the organization. It provides easy to the organizations in maintaining
the business data and ensure the access to the integrated valuable business
information to all the members of the organizations. ERP software manages important
data in an efficient way, avoiding its redundancy and validating the entire process.
The appropriate management of information helps the organization in saving
the cost and increasing productivity. It also assists in integrating the organizational
units which further fosters the communication process.
The concept of ERP seems to be growing and even more so, expanding. It will be useful to
investigate topics such as how the companies using the ERP system perceive these trends of
extension, how they will cope with the changes and challenges that pose ahead, what tools
are needed, such as the infrastructures available to them and the kind of skills and
expertise required.
