Question:
Answer:
The answer is Option (C)
An Enterprise Resource Planning (ERP) System offers an integrated software from a single vendor to meet global competition by helping executives manage product flow while controlling cost and handling customer interactions.
ERP software integrates all the different processes in an organisation like inventory and order management, accounting, human resources, customer relationship management (CRM) into one complete system to streamline processes and information across the entire organisation.
At the core of ERP is the central shared database which is then accessed by various departments. This means that a common database is referred to by the different departments so that duplication is avoided. Further, ERP also provides synchronised reporting and automation. Instead of staff in different departments maintaining their own separate data in spreadsheets and then merging these, ERP helps to pull out reports from a common place. This data is more reliable and less error prone.
ERP helps to reduce duplication, provides easy data and reports and quick flow of work and information across departments. This reduces overall time and executives are then able to use this time not in gathering data and preparing reports but to use the reports, analyse same and take timely actions. In short, ERP frees up the manpower resource to do more value added work.
ERP has many strategic benefits like availability of real time data at global level for timely decision making, improving financial and regulatory compliances, automating core business operations and enhancing customer relationships.