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The pace of change in the current economic climate is quite rapid as many businesses transition from domestic and local operations to international activities. The modern business climate is characterized by a faster pace, unpredictability of the economy, high customer demands, and international competitiveness. Using technological advancements to boost performance has become vital due to the shifting economic conditions affecting how businesses operate. Businesses have embraced new technology to combine corporate processes in an effort to attain both efficiency and effectiveness in their operations, according to Beheshti & Beheshti (2010). One of the technological advancements that have been adopted by businesses to promote performance and meet the requirements of a fast-changing economic environment is enterprise resource planning systems (ERP). There is a need to understand the efficiency benefits of implementing an ERP to guide businesses decision-making.
Thesis: This paper reviews the ways enterprise resource planning systems aid in the improvement of efficiency and analyzes some of the considerations for effective ERP implementation.
Real-time access to business information at all times
Integrates suppliers, partners, and customers
Reduced ordering and stocking costs
Fewer personnel on supply chain management
Reduced costs associated with multiple data centers
Improves analysis of business performance
Improves accuracy and speed of internal reporting
Offer advanced reporting and performance analysis
Better strategy development
Improve supply chain management
Improve visibility and insight to supply chain operations
Forecast inventory issues
Improve warehouse operations including tracking stock levels
Improving business intelligence and communication
Facilitate data collection and analysis
Enhance collaboration between departments
Considerations for effective ERP implementation
Beheshti, H. M., & Beheshti, C. M. (2010). Improving productivity and firm performance with enterprise resource planning. Enterprise Information Systems, 4(4), 445-472.
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