Every business needs a proper management system. A fine planning and controlling of resources helps to run an enterprise efficiently and successfully. Therefore, to perform the developing and the related functions, an Enterprise Resource Planning Application is established into the business. Enterprise Resource Planning or ERP helps an organization in many ways. An ERP application is management software developed to hoard and deal with data from different phase or process of business administration. It works on the following;
It is a combination of integrated software put together to perform more proficiently so as to retain the core business of a company. Each ERP module focuses on one department only. ERP application is also used to administer the back end processes of a business such as;
There are different kinds of Enterprise Resource Planning application or software available in the market. Depending on the organization size and business, different ERP systems are installed and processed.
1. One Tier - applied in large multinational complex companies
2. Two tier- applied in medium size companies
3. Three tier- applied in small companies with limited resources
The process and managing corporate core business resources like finance, produce, human, inventory and information technology in the most capable and practical way is termed as resource management. One of the important aspects of Enterprise resource planning is resource management system. It is the key factor in the project management activity. Hence, is thereby used to allocate resources to various projects accurately. The Resource Management applications or software make the job of a project manager easy by assigning different resources in the business project. The system also ensures smooth running of the business by making sure that the resources are working right, meeting the deadlines at the appropriate time and delivering the best quality product and services. There are many added benefits to this management system. It encourages a transparent and precise visibility of resources consumption and execution and it minimizes the dependency on paper work, thereby ensuring real-time work with centralized process. There are two types of resource management namely human resource management and corporate resource management.
Key features of the system includes
Time is one of the most essential resources albeit being intangible. Today work is allotted with a prior dead line. People are running throughout the day as there is not sufficient time to finish work. For a project or a company to run successfully, managing time is must. Therefore, time management can be defined as the act of implementing a control over the time spent on activities of a business. Time management is an important part of project management, attention management and service management. You have different techniques to manage time in business as well as in personal front. These techniques or applications are used in ERP system effectively. Time can be managed in the following ways
Time can be managed in the following ways
Time management system includes applications that keep record of a project’s ongoing time or timetable of an employee. This helps and individual or a project team to plan work and execute them in more competent way.
If your business has to emerge as number one, then the only thumb rule which applies is to produce the best quality product and services. Quality speaks above quantity. People demands for quality and they are ready to pay the price. Hence, quality management becomes a priority in a project or business. But retaining quality these days has become very challenging. From obtaining the raw materials followed by proper manufacturing and production to delivering the service must be improved continuously.
Quality management system is a technique adopted my many big companies that focuses on achieving the perfect product as per to the consumers’ requirements and which also ensures to maintain the quality for a long term. The system has many elements to follow and it takes quite a while to get accustomed to the flow. It is also a constant and a lifelong process.
The elements include;
Risk is the uncertain factor of a business. Every work has a risk attached to it. It is inevitable. Therefore, you must be ready to face any kind of challenge. The process of identifying, assessing and controlling the impact of risk is called risk management.
Risk cannot be completely eliminated; it just can be minimized by properly monitoring an ongoing project. It can arise from anywhere; from competitors, resources, environmental threats, accidents etc. Nowadays, corporate are approaching different methods to assess risks. SWOT analysis is one such approach used, where a company’s or an organization’s Strength, Weakness, Opportunities and Threats are measured and worked upon.
Risk Management Information System (RMIS) is also available where risk identification and assessment, control and financing are followed. Risk management designs a new process with enough risk control measure, re assess the measures in accordance with the changing environment time to time, transfers the risk factor to external source like insurance company or avoids the risk completely by shutting down the process.
Few principles of Risk management are: