LESSON 1 Flashcards
ERP is a system that optimizes the flow of __________, __________, and ______ in an organization.
information
materials
cash
The study of ERP is the study of ___________.
business
The Functional Area of Operations
(M&S, SCM, A&F, HR)
- Marketing and Sales
- Supply Chain Management
- Accounting and
Finance - Human Resources
ERP systems provide
real-time access to
data, allowing users
to make informed
decisions promptly.
- Characteristics of ERP
Availability of
Data in Real Time
ERP centralizes data
storage and
processing,
streamlining
operations across
different departments.
- Characteristics of ERP
Centralized Data
Processing
ERP systems allow
customization and
ensure transparency
by making data
accessible to
authorized users.
- Characteristics of ERP
Flexibility &
Transparency Of Data
ERPs automate
processes like
inventory
management,
reducing manual
effort and minimizing errors.
- Characteristics of ERP
Automatic
Information
Organizations can
tailor ERP interfaces to
match their specific needs.
- Characteristics of ERP
Customized Look
And Features
ERP systems connect various functions within an organization,
allowing seamless data flow and process integration across
departments.
- Common Feature of ERP
Enterprise-wide Integration
ERPs provide real-time access to data, enabling timely decision-
making and efficient operations.
- Common Feature of ERP
Real-time Operations
Centralized data storage and management are essential features of
ERP systems.
- Common Feature of ERP
Database
ERP ensures uniformity and consistency in processes and data
handling.
- Common Feature of ERP
Consistency
This type of ERP is installed and maintained on the company’s own servers or data centers. It provides full control over customization and security but requires
local infrastructure management.
- Type of ERP
On-premises Software
Cloud-based ERPs are hosted on remote servers and accessed via the internet. They offer scalability, automatic updates, and reduced infrastructure costs.
- Type of ERP
Cloud Software
Hybrid ERPs combine elements of both on-premises and cloud solutions. They allow organizations to balance customization and flexibility with cloud benefits.
- Type of ERP
Hybrid Software
ERP systems enhance
accuracy by automating
processes and ensuring
consistent data. Increased accuracy leads to improved productivity.
- Benefits of ERP
Improves Accuracy & Productivity
ERPs provide robust reporting capabilities, allowing organizations to
analyze data efficiently and make informed decisions.
- Benefits of ERP
Improves Reporting
By streamlining workflows and integrating various functions, ERPs boost
overall operational efficiency.
-Benefits of ERP
Increases Efficiency
ERP systems facilitate
communication and collaboration across departments, fostering better teamwork.
- Benefits of ERP
Increases Collaboration
ERP systems help categorize and organize data, making it easier to manage information across different departments. By streamlining processes and ensuring consistent data categorization, accuracy improves, leading to better decision-making and increased productivity.
- Strategy to Improve Accuracy and Productivity
Categorization
ERP software allows real-time access to data, reducing the need for lengthy in-person meetings. Instead, teams can collaborate virtually, saving time and improving productivity. For example, managers can review reports directly within the ERP system, eliminating the need for physical meetings.
- Strategy to Improve Accuracy and Productivity
Avoid Sitting Meetings
ERP systems automate various tasks, including time tracking. By efficiently managing work hours, employees can focus on value-added activities. For instance, ERP modules for project management track project timelines, resource allocation, and progress, enhancing overall efficiency.
- Strategy to Improve Accuracy and Productivity
Tracking Time
ERP solutions often include task management features. Employees can create
and prioritize tasks within the system, ensuring nothing falls through the
cracks. This organized approach enhances productivity by providing a clear roadmap for daily activities.
- Strategy to Improve Accuracy and Productivity
The To-Do list
ERP systems enable organizations to automate data collection and generate regular reports. By setting up a consistent reporting schedule, companies can
ensure timely access to critical information. This consistency improves
decision-making and overall productivity.
- Strategy to Improve Reporting
Establish a Consistent Reporting Schedule
ERPs often provide tools for creating visual dashboards and reports. Effective data visualization enhances understanding, making it
easier for stakeholders to interpret complex information. Clear visuals lead to better insights and informed actions.
- Strategy to Improve Reporting
Work on Your Data Visualization
ERP systems streamline data collection by automating processes. Instead of manual data entry, ERPs capture information directly from
various sources (e.g., sales transactions, inventory levels,
production data). Automation reduces errors, saves time, and
improves reporting accuracy.
- Strategy to Improve Reporting
Automate Your Data Collection
When implementing an ERP, organizations
should identify key performance indicators (KPIs) relevant to their business. These metrics serve as benchmarks for
success. By focusing on meaningful KPIs, companies can track progress, measure
performance, and drive continuous improvement.
- Strategy to Improve Reporting
Start With Some Goal Metrics
ERP systems allow organizations to define clear objectives and
milestones. By setting achievable goals, teams can focus their efforts effectively, leading to increased efficiency.
- Strategy to Increase Efficiency
Set Reasonable Goals
ERPs streamline processes by automating routine tasks. Instead of
striving for perfection in every detail, organizations can prioritize essential
functions and optimize workflows. This pragmatic approach enhances overall efficiency.
- Strategy to Increase Efficiency
Let Go Of Perfection
ERP implementation often involves reevaluating existing processes. By creating a conducive work
environment—both physically and digitally—employees can work more efficiently. For example, optimizing ERP interfaces and reducing clutter can lead to better productivity.
- Strategy to Increase Efficiency
Improve Your Environment
ERPs automate repetitive tasks, freeing up time for value-added activities. Employees can focus on
strategic decision-making, problem-solving, and innovation. Efficient time management within an ERP system contributes to overall productivity.
- Strategy to Increase Efficiency
Use All Your Time
ERP systems often involve cross-functional teams. Implementing
team-building activities fosters better collaboration, trust, and
communication among team members.
- Strategy to Increase Collaboration
Team Building Games
ERPs provide collaboration features like shared workspaces,
document management, and communication channels. Utilizing these tools enhances teamwork and ensures everyone
is on the same page.
- Strategy to Increase Collaboration
Use a Team Collaboration
Effective communication is vital for collaboration. ERPs streamline communication by providing centralized platforms for discussions, announcements, and updates.
- Strategy to Increase Collaboration
Improve Employee Communication
Engaged employees are more likely to collaborate effectively. ERPs can enhance engagement through features like
employee self-service portals, performance tracking, and recognition programs.
- Strategy to Increase Collaboration
Improving Engagement
This is about what your company wants to achieve in the future. It describes your long-term goals and what you aspire to become. It’s like a dream or a big picture of where you want your company to go.
Company Vision
This is about what your company does. It explains the purpose of your company, what you
do, who you serve, and how you do it. Think of it as your company’s daily work and goals.
Company Mission
