ERP and Product life cycle?

SGS QuestionsCategory: QuestionsERP and Product life cycle?
Rishit asked 11 months ago

What is ERP and how it is related to product life cycle?

1 Answers
KAPIL MOHAN SHARMA Staff answered 11 months ago

What is ERP ?
Enterprise Resource Planning (ERP) is software that attempts to integrate all departments and functions across a company onto a single computer system that can serve all those departments’ particular needs. ERP allows a company to automate and integrate the majority of its business processes, including product planning, purchasing, production control, inventory control, interaction with suppliers and customer, delivery of customer service and keeping track of orders, to share common data and practices across the entire enterprise, and to produce and access information in a real-time environment.
ERP is related to Product Life Cycle
Integration of Product Lifecycle Management and Enterprise Resource Planning amplifies the product manufacture system & structure. While Product Lifecycle Management supports production processes like Bill of Materials Management, Item Management, Change Management, Document Management and Compliance Management, Enterprise Resource Planning chains in support of financial processes like Purchasing, Inventory Management, Order Management, and Accounting.
Though, Product Lifecycle and Enterprise Resource Planning were separate processes inside a company’s operation. Every department /vertical executed the processes individually without merging any data in the way.
However, with the new developments in the world of Data, which have become invaluable pick for manufacturing/service organizations all over the world there has been a tidal shift. From separate use of Product Lifecycle Management and Enterprise Resource Planning, companies have started preferring implementation of integrative use of both – Product Lifecycle Management and Enterprise Resource Planning.