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Enterprise Resource Planning Integration of Nonfinancial Measures for Business Success - Literature review Example

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This review 'Enterprise Resource Planning Integration of Nonfinancial Measures for Business Success'  is about enterprise resource planning is the process of integrating the essential components of the business, more so in manufacturing, with other departments in an attempt to create harmony and uniformity. In the system, various areas including planning,purchasing,inventory,marketing departments…
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Enterprise Resource Planning Integration of Nonfinancial Measures for Business Success
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Download file to see previous pages Though most business integrate enterprise resource planning as a management software, ERP is not merely computer application, but the creation of harmony between processes, departments and human resource to ensure that the business realize maximum potential at all times (Moalagh & Ravasan, 2013).
This topic has attracted researchers from various disciplines including accountants who attempt to bring together different business domains and improve the success chances of a business. The implementation of ERP into the business remains a serious challenge due to the time, cost and resource demands that a business must be willing to part with. In most instances, ERPs have failed in a number of companies with strong financial muscles and human resource base due to lack of coherence between the plans and the goals of the organization (Chaabouni & Triki, 2013). In this paper, the benefits of enterprise resource planning in information collection in nonfinancial situations will be evaluated.
The changing business environment has forced companies to rethink their strategies and develop approaches aimed at achieving the strategic goals with minimal losses at all times. Today, the challenge of competition, market expansion and the high expectation of the informed customers make it difficult for corporations to succeed unless proper plans are adopted. To survive in the tough and murky markets, corporations have been forced to reduce the cost of the supply chain and the time taken for a product to reduce the final consumer with the aim of reducing the overall prices. As competition continue to control the nature of business practices and the need to adopt global collaborative models, internal planning remains important in the overall success of the organizations. As a result, corporations must continue to engage their suppliers, the distributors and the retailers in ensuring that the quality and the relevance of the product are sustained within the supply chain (Chaabouni & Triki, 2013). ...Download file to see next pages Read More
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