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Objectives :
To study the future directions of the ERP market. To analyse the market trends that shape the future products of ERP.
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Lecture Outline
Introduction New Markets New Channels Faster Implementation Methodologies Business Models Factors for Choosing Application Platforms New Business Segments Summary Check Your Learning Activity
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Introduction
The future focus of the ERP vendors is to develop a single application that can monitor all the business functions. The vendors are adding more features to their products and newer advanced applications are integrated to the existing packages. Vendors are increasing investment in futuristic and innovative FrontOffice applications such as electronic commerce, and supply-chain and HR/customer self-service. Vendors are developing effective ERP implementation methodologies based on industry experience gained over many years. These methodologies aim not only to save the overall cost of the system implementation, but also provide a faster time-to-benefit.
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New Markets
ERP has a very large and rapidly growing national and global demand. The demand is not only by large organisation but mainly the mid and small scale organisations.
New Channels
ERP solutions.
ERP implementation is cost and time intensive, it is better to evaluate various alternative channels and choose the one that best fits your requirements and budget.
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To get the better advantage and delivery in terms of results implementation of the ERP system must be faster. ERP vendors are making the implementation process easier by offering new tools and methodologies to speed up the process. SAP has introduced a method called Accelerated SAP (ASAP) that takes knowledge obtained from thousands of R/3 implementations to combine this skill in a product called the Business Engineer.
Oracles method called Fast Forward, which speed up implementations of Oracle Applications suites and cut down the implementation costs.
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Business Models
The sources of revenue and the way the company organises its activities to profitably exploit these sources is described by the business model.
ERP Business Modelling emphasise on managing the group decisionmaking process for developing the required process descriptions. Some of the business models are Open ERP Model Global Business Process Model
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The organisation has to be very careful while choosing the platform for their application, it has to be compatible with the current work settings. Each company is trying to extend the reach of its software and to make it an application platform rather than a suite of modules. The company must look at all the internal and external factors to decide on the matter of choosing the ERP platforms.
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Summary
ERP is an industry that always shows various prospects of investment rather than just technology. The most challenging part is implementing the system into a companys culture, where it is necessary to develop a business and fulfil a vision. ERP trends also reflect positive signals for the ERP vendors and companies availing their service. ERP product and ERP software will always be on great demand. ERP vendors have increased their appeal to small business clients through a number of initiatives. ERP vendors are making the implementation process easier by offering tools and methodologies to speed up the process. Business Modelling also called as process facilitation approach, emphasise on managing the group decision-making process of developing the required process descriptions. The ERP vendors are moving on to new business segments such as supply chain management and demand forecasting or sales automation and marketing.
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Ans. Business model is described as the sources of revenue and the way
the company organises its activities to profitably exploit this sources. 2. List the latest trends improvising the functioning of ERP system.
Ans. The latest trends that have improvised the functioning of the ERP
system are: Open source ERP Web enabled ERP
Wireless ERP
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Activity
List out the types of application platform installed by various companies for implementing the ERP system to improve their business efficiency.
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