Posts

35)71st Republic Day 2020 highlights| Beating retreat ceremony from Attari-Wagah border on Republic Day

India Republic Day -- India celebrates its 71st Republic Day nowadays. On this day in 1950the Constitution of Of india came into force. The Republic Day paradewhich is considered the main attraction of the days celebrationwas held along Rajpath. It was a 90-minute event. Brazilian President Jair Bolsonaro was the chief guest at the parade. Before the parade startedPrime Minister Narendra Modi paid tribute at the Country wide War Memorial and Director Ram Nath Kovind unfurled the national flag in addition to General Manoj Mukund NaravaneChief of the Army EmployeesAdmiral Karambir SinghMain of the Naval StaffMarshal Rakesh Kumar Singh BhadauriaChief of the Air Employees. 5 41 PM IST PM Narendra Modi arrives at Rashtrapati Bhawan for At home reception hosted through President Ram Nath Kovind. 5 12 pm IST Beating retreat ceremony from Attari-Wagah border on Republic Day. 4 36 evening IST Air India Distributes 30000 National Red flags To Passengers On Republic Day The national car
Post a Comment
Read more

Enterprise resource planning

Image
Enterprise resource planning ( ERP ) is the integrated management of main business processes, often in real time and mediated by software and technology. ERP is usually referred to as a category of business management software—typically a suite of integrated applications—that an organization can use to collect, store, manage, and interpret data from many business activities. ERP provides an integrated and continuously updated view of core business processes using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across various departments (manufacturing, purchasing, sales, accounting, etc.) that provide the data. ERP facilitates information flow between all business functions and manages connections to outside stakeholders. Enterprise system software is a multibillion-
Post a Comment
Read more

Origin

The Gartner Group first used the acronym ERP in the 1990s to include the capabilities of material requirements planning (MRP), and the later manufacturing resource planning (MRP II), as well as computer-integrated manufacturing. Without replacing these terms, ERP came to represent a larger whole that reflected the evolution of application integration beyond manufacturing. Not all ERP packages are developed from a manufacturing core; ERP vendors variously began assembling their packages with finance-and-accounting, maintenance, and human-resource components. By the mid-1990s ERP systems addressed all core enterprise functions. Governments and non–profit organizations also began to use ERP systems.
Post a Comment
Read more

Expansion

ERP systems experienced rapid growth in the 1990s. Because of the year 2000 problem many companies took the opportunity to replace their old systems with ERP. ERP systems initially focused on automating back office functions that did not directly affect customers and the public. Front office functions, such as customer relationship management (CRM), dealt directly with customers, or e-business systems such as e-commerce, e-government, e-telecom, and e-finance—or supplier relationship management (SRM) became integrated later, when the internet simplified communicating with external parties. "ERP II" was coined in 2000 in an article by Gartner Publications entitled ERP Is Dead—Long Live ERP II . It describes web–based software that provides real–time access to ERP systems to employees and partners (such as suppliers and customers). The ERP II role expands traditional ERP resource optimization and transaction processing. Rather than just manage buying, selling, etc.—ERP II lever
Post a Comment
Read more

Characteristics

ERP systems typically include the following characteristics: An integrated system Operates in (or near) real time A common database that supports all the applications A consistent look and feel across modules Installation of the system with elaborate application/data integration by the Information Technology (IT) department, provided the implementation is not done in small steps Deployment options include: on-premises, cloud hosted, or SaaS
Post a Comment
Read more

Functional areas

An ERP system covers the following common functional areas. In many ERP systems, these are called and grouped together as ERP modules: Financial accounting: general ledger, fixed assets, payables including vouchering, matching and payment, receivables and collections, cash management, financial consolidation Management accounting: budgeting, costing, cost management, activity based costing Human resources: recruiting, training, rostering, payroll, benefits, retirement and pension plans, diversity management, retirement, separation Manufacturing: engineering, bill of materials, work orders, scheduling, capacity, workflow management, quality control, manufacturing process, manufacturing projects, manufacturing flow, product life cycle management Order processing: order to cash, order entry, credit checking, pricing, available to promise, inventory, shipping, sales analysis and reporting, sales commissioning Supply chain management: supply chain planning, supplier scheduling, produc
Post a Comment
Read more

Best practices

Most ERP systems incorporate best practices. This means the software reflects the vendor's interpretation of the most effective way to perform each business process. Systems vary in how conveniently the customer can modify these practices. In addition, best practices reduced risk by 71% compared to other software implementations. Use of best practices eases compliance with requirements such as IFRS, Sarbanes-Oxley, or Basel II. They can also help comply with de facto industry standards, such as electronic funds transfer. This is because the procedure can be readily codified within the ERP software and replicated with confidence across multiple businesses that share that business requirement.
Post a Comment
Read more