Chapter 2 - Enterprise Resource Planning (ERP)

ERP challenges

ERP systems are expensive and can take time to integrate. training will have to be given to employees that will use the ERP. There may be push back for the new system.

ERP scope

ERP systems span the whole company or business

ERP

Integrated business management software that uses a common database to facilitate the management of an enterprise

Enterprise Performance Metrics

Performance metrics that cannot be created by not reaching across many areas such as sales, shipping, and manufacturing.

cash-to-cash cycle time

The time it takes for cash to flow back into a company after it has been spent on raw materials. Synonym: Cash Conversion Cycle.

ERP systems have what advanced capability?

To create performance reports

Small Businesses can use with ERP system?

cloud based ERP

ERP benefits

ensures a common vision and eliminates reposting of data. accurate and fast data flow. supports ALL decision having to do with planning and control.

ERP systems are defined as?

multi functional, modular, integrated and help in decision making