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Chapter 6

Commerce 2KA3 - Chapter 6 Summary

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Department
Commerce
Course
COMMERCE 2KA3
Professor
A L I R M O N T A Z E M I
Semester
Winter

Description
Chapter 6 Enterprise Resource PlanningIntroductionEnterprise Resource Planning ERP Integrates all departments and functions throughout an organization into a single IT system or integrated set of IT systems so that employees can make decisions by viewing enterprisewide information on all business operationsEnterprise Resource PlanningA common problem facing organizations is maintaining consistency across its business operationsERP systems provide organizations with consistency An ERP system provides a method for the effective planning and controlling of all the resources required to take make ship and account for customer orders in a manufacturing distribution or service organizationCore and Extended ERP ComponentsCore ERP components are the traditional components included in most ERP systems and they primarily focus on internal operationsExtended ERP components the extra components that meet the organizational needs not covered by the core components and primarily focus on external operations Core ERP Components The three most common core ERP components focusing on internal operations are 1 Accounting and finance 2 Production and Materials Management 3 Human ResourcesAccounting and Finance ERP ComponentsAccounting and Finance ERP components manage accounting data and financial processes within the enterprise with functions such as general ledger accounts payable accounts receivable budgeting and asset managementERP financial components are the backbone behind product profitability analysis and allow companies to perform all types of advanced profitability modelling techniquesProduction and Materials Management ERP Components
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