Enterprise resource planning (ERP) is a form of enterprise software that integrates most of the core business functions of an organization like Manufacturing, Finance, and Operation.
ERP is a business software that includes all business modules from product planning to fulfilment and from marketing to finance and human resources i.e. it provides an effective solution to virtually all business challenges that require seamless integration across functional areas
On the other hand, Work Breakdown Structure(WBS) is a hierarchical decomposition of the work to be executed by the project team to accomplish the project objectives and create the required deliverables.
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What is ERP?
The full form of ERP is Enterprise Resource Planning. Businesses use enterprise resource planning (ERP) to coordinate and manage the crucial aspects of their operations. Numerous ERP software programs are crucial to businesses since they assist in implementing resource planning by combining all business operations into a single system.
A software system for enterprise resource planning (ERP) can also incorporate planning, inventory buying, sales, marketing, finance, and other functions.
Key Takeaways of ERP:
- All operations required to run a business can be integrated with ERP software.
- Over the years, ERP solutions have changed, and many of them are now often web-based programs that users can access from anywhere.
- One source of information, precise, real-time data reporting and open communication across business units are a few advantages of ERP.
- If a business doesn't deploy an ERP system carefully, it may not be effective.
Enterprise Resource Planning: An Understanding (ERP)
A major organization's various computer systems might be thought of as being joined together by an enterprise resource planning system. Without an ERP program, each department's system would be tailored to perform its particular job. Each department still has its own system, but with ERP software, all systems can be accessed through a single application with a single interface.
The use of ERP solutions also improves communication and information sharing between the various departments and the rest of the business. It gathers data on the activity and condition of various divisions and makes it accessible to other portions so they can make efficient use of it.
By connecting data regarding manufacturing, finance, distribution, and human resources, ERP solutions can aid a company in becoming more self-aware. An ERP solution can avoid expensive duplications and incompatible technology since it connects the many technologies utilized by each firm's division. Accounts payable, stock control, order monitoring, and customer databases are frequently integrated into one system through this method.
Enterprise Resource Planning Advantages
Enterprise resource planning (ERP) is used by businesses for various purposes, including growth, cost savings, and improved operations. While each organization may have various goals and outcomes, several are noteworthy.
Redundancies are eliminated, accuracy is increased, and productivity is increased through the integration and automation of business operations. Once their processes are integrated, departments may coordinate their efforts to provide quicker results.
What is WBS?
Work can be made more manageable and approachable by using a common productivity strategy called task breaking. The Work Breakdown Structure (WBS), one of the most significant projects management papers, is the tool that applies this technique to projects. It does it independently, integrating scope, cost, and schedule baselines to guarantee project plans are in sync.
The Work Breakdown Structure is a "deliverable-oriented hierarchical decomposition of the work to be completed by the project team," according to the PMI Project Management Book of Knowledge (PMBOK). WBS can be divided into two categories: deliverable-based and phase-based. The deliverable-based strategy is the most popular and preferred method. The Elements listed in the first level of the WBS are the primary distinction between the two methodologies.
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Key Takeaways of WBS:
- By assigning effort estimates to particular areas of the WBS,
- It specifies and organizes the necessary work and speeds up the creation of a timetable.
- It gives a visual representation of the whole scope and can be used to identify communication points. It can identify potential scope hazards if a branch is poorly specified.
- It can be used to display and delegate accountabilities and obligations since it gives a visual representation of the effects when deliverables are behind schedule.
The WBS can also be used as a tool for monitoring and regulating. Control Accounts are defined to achieve this. WBS Elements, known as Control Accounts, are where the project intends to track and report performance. Any WBS element may be one of the Control Accounts. The project manager for the House Project determines that reporting on each subcontractor's performance will help better manage the risks involved with using them. Elements 3.1, 3.2, and 3.3 have been designated as Control Accounts so that their performance may be tracked. The project does not feel like monitoring and regulating are required at lower Levels, and business resources will carry out the remaining work in Elements 1.0 and 2.0 with less risk.
WBS and ERP are two business management software that has been around for a long time. One of the main differences is that the Key Performance Indicators are basically the same- the difference is in the software that delivers the information. ERP creates a high data stream between the software and business processes. WBS is software that is most useful in the planning stage of business. A conclusion between the two is this- just because a company has chosen one or the other doesn't mean they can't connect or work together in any way.