ERP stands for Enterprise Resource Planning. A modern cloud based ERP software will offer;
Enterprise Project Management
Enterprise Risk Management
Enterprise Compliance Management
Enterprise Supply Chain Management
Enterprise Workforce Management
Enterprise Planning mainly is used for ;
Supply Chain Planning
Enterprise Budgeting finds its use in;
CAPEX (Capital Expenditure) Budgeting
OPEX (Operational Expenditure) Budgeting
Buffer Budgeting for unknowns in a fiscal year
Enterprise Accounting is used for preparing accounts as per;
International Financial Reporting Standards Foundation (IFRS)
Financial Accounting Standards Board (FASB)
Generally Accepted Accounting Principles in the United States (GAAP).
HGB in Germany and PCG in France.
US Securities and Exchange Commission (SEC)
European Securities and Markets Authority (ESMA)
Enterprise Procurement is used for;
Human resource management
Employee Well Being
Human Resource Upskilling
Enterprise Project Management is used for;
Internal Project Management
Short term projects
Enterprise Risk Management is often used to;
Navigate Risks with Risk Mitigation Actions
Correlate risk dependencies
Fully understand detailed impact if the risk events happens
Enterprise Compliance Management is used for;
Define Internal and External Compliance Factors.
Understand Planned vs Actual Compliance.
Understand non-compliant areas.
Procedure to adopt if compliance is not met.
Enterprise Supply Chain Management is used for;
Map the entire process from production of goods to delivery of Goods.
Just In Time availability of raw materials.
Interlinks between supply chain production process.
Define parameters of goods/raw materials acceptance.
Workforce Management is used for;
Managing internal and external workforce on a site, plant or a location.
Assigning workforce to a project.
Time and labour management.
Define Permit to Work Conditions.
Define and monitor health and safety conditions for the workforce.
We think the term ERP or Enterprise Resource Planning does not fully reflect its capabilities. ERP is beyond resource planning, it includes financials, supply chain, manufacturing, compliance management and many other workflows of an enterprise.