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| Topic: |
Business
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| Number of pages / Number of words: |
17 / 4539 |
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As the world has increased its amount of stored information, it has also created new tools to assist workers in not only recalling information but increasing efficiency and productivity. The technology has the power to convert data and information into usable knowledge.
Enterprise Resource Planning (ERP) systems are a set of technology that works to coordinated all of the resources, information and activities needed to complete business processes...
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The benefits of utilizing an ERP system include the following:
? Integration of different functional areas ensures proper communication, productivity and efficiency
? Design engineering (how to best make the product)
? Order tracking from acceptance through fulfillment
? The revenue cycle from invoice through cash receipt
? Managing inter-dependencies of complex bill of materials
? Tracking the 3-way match between purchase orders (what was ordered), inventory receipts (what arrived) and costing (what the vendor invoiced)
? Accounting for all of these tasks, tracking revenue, cost and profit on a granular level...
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