The most compelling benefit of an enterprise system is that it enables collaboration and efficiency among the departments in an organization. The significant investment often required in infrastructure and organizational processes, along with the burden of strategic planning and cross-organizational teamwork, are challenges.Know More
When successful, implementation of an enterprise system offers the potential for major competitive advantages. Organizations can outpace competitors with more efficient resource utilization, better overall management of customer relationships and improved operational efficiency. Some companies have a system that connects sales forecasts to production budgets and materials inventory, for instance.
Enterprise systems are driven by software platforms. Building up an optimal infrastructure, including the right software solution, is a major investment for many companies. Putting the right system into place from the beginning is a concern. Some companies fail to take the time to plan strategically from the outset, which increases the risks of a bad investment. Others either don't get strategic planning involvement from enough department leaders or they build a failed strategy. Even with a careful strategy, implementing a system that aligns technology with involvement of all workers across the organization is an obstacle. A culture of collaboration enhances the chances of success, but clear communication and work flows are necessary as well.Learn more about Software
In computer science, concurrency is the execution of several instruction sequences at the same time. In an operating system, this happens when there are several process threads running in parallel. These threads may communicate with each other through either shared memory or message passing.Full Answer >
The advantages of MRP systems include the abilities to minimize inventory levels, reduce carrying costs, track material requirements, allocate production time and organize future capacity needs. The disadvantages of MRP systems include dependence on accurate input information, their time-consuming nature and the expensive cost of implementing the system. The primary functions of MRP systems include inventory control, production planning, scheduling and organization.Full Answer >
Information systems integrate human and technical components to collect, store, process and distribute the data needed by part or an entire organization. An information system can either be specialized or general.Full Answer >
Examples of transaction processing systems include payroll, order processing, reservations, employee records, accounts payable and accounts receivable. These systems collect and store data about transactions, which are activities that change stored data. For example, using a credit card, reserving a flight and ordering products from a catalog are transactions.Full Answer >