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ERP 101: What is Enterprise Resource Planning?

In this video, I want to answer the question, what is ERP: Enterprise Resource Planning?

Watching this video is worth 4 Management Courses CPD Points.

This video is part of course module number 6.7
Program 6: Managing within an Organization
Course 7: Financial Management

ERP systems represent huge investments for the organizations that install them. So, there must be a compelling business case driving their adoption. Here are some of the claimed benefits.
• Reduced Costs
• Increased Productivity
• Inventory Control
• Happier Customers
• Regulatory Compliance
• Data Analysis
• Greater Collaboration

Definition of ERP
There is no fixed definition of ERP. Each vendor defines it in terms of the capabilities their product excels at. The other challenge is that most definitions are jargon-ridden:

Enterprise resource planning (ERP) is the integrated management of core business processes, often in real-time and mediated by software and technology.
Enterprise resource planning (ERP) is a process by which a company manages and integrates the important parts of its business. An ERP management information system integrates areas such as planning, purchasing, inventory, sales, marketing, finance and human resources.

My favorite has less jargon:
ERP is an IT system that helps businesses run important processes, such as financials, materials planning, and HR.

ERP Implementation Steps
1. Figure out what you want to achieve and why
2. Project Definition
3. Evaluate your Options
4. Implementation
5. Change Management
6. Training
7. Go Live
8. Ongoing Support

The biggest are SAP and Oracle with a third of the market between them. Unsurprisingly, Microsoft is working hard to win bigger accounts for its ERP services. Other names to know include Sage, Infor, Epicor, and Workday.

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Links to our book recommendations are affiliated through Amazon

00:00 – What is ERP, Enterprise Resource Planning?
00:15 – ERP in a nutshell
00:57 – Why do we need ERP systems?
03:26 – What ERP is
04:19 – The definition of ERP
05:35 – Big ERP and Small ERP
06:31 – How to implement ERP
07:06 – How to implement ERP… Take 2
12:36 – Who are the players in the ERP world?
13:37 – Summing up

#ManagementCourses #ERP #EnterpriseResourcePlanning


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Mike Clayton

About Mike Clayton 

Dr Mike Clayton is a (former) Project Manager and now a management educator. Having trained thousands of people at live workshops, seminars, and conferences, he now delivers training mainly via video. He has 14 books with international publishers and runs two successful YouTube channels. He is also the founder of OnlinePMCourses.com

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