The ERP system has now become the base of many IT infrastructures. Some of the ERP tools are Baan, SAP, PeopleSoft. ERP system has now become the processing tool of many companies. They grab the data and minimise the manual activities and tasks related to processing financial, inventory and customer order information.
ERP system holds a high level of integration that is achieved through the proper application of a single data model, improving mutual understanding of what the shared data represents and constructing a set of rules for accessing data.
With the advancement of technology, we can say that the world is shrinking day by day. Similarly, customers’ expectations are increasing. Also, companies are being more prone to an uncertain environment. In this running market, a company can only sustain if it accepts the fact that their conventional supply chain integration needs to be expanded beyond their peripheries.
The strategic and technological interventions in the supply chain have a huge effect in predicting the buy and sell features of a company. A company should try to use the potential of the internet to the maximum level through clear vision, strong planning and technical insight. This is essential for better supply chain management and also for improved competitiveness.
We can see how Internet technology, World Wide Web, electronic commerce etc. has changed the way in which a company does business. These companies must acknowledge the power of technology to work together with their business partners.
We can, in fact, say that IT has launched a new breed of SCM application. The Internet and other networking links learn from the performance in the past and observe the historical trends in order to identify how much product should be made along with the best and cost effective methods for warehousing it or shipping it to the retailer.