Enterprise Resource Planning Modules
Enterprise Resource Planning or ERP modules are groupings of related functionality. For example, A Finance module might include general ledger functionality, accounts payable functionality, accounts receivable functionality, budgeting functionality, commitment control functionality, and so on.
There are several ERP modules that may or may not be part of an Enterprise Resource Planning solution. Some popular ERP modules are:
• Purchase Management
• Shipping Management
• Inventory Management
• Customer Relationship Management (CRM)
• Enterprise Performance Management (EPM)
• Finance Management
• Distribution Management
• Planning and Production Management
• Sales Management
• Reporting Management
• Marketing Management
• Human Capital Management (HCM)
• Human Resources (HR)
• Supply Chain Management (SCM)
• Business Intelligence
• Process Manufacturing
• Discrete Manufacturing
In order to create an Enterprise Resource Planning solution, the software must include at least two modules. These two modules can be any two modules; however, they are usually related to a business need. For example, a manufacturing business most likely has more of a need for an Enterprise Resource Planning solution with a Planning and Production Management and Inventory Management modules compared to an ERP solution with Marketing Management and Sales Management modules.
Enterprise Resource Planning vendors offer solutions with specific ERP modules to suit the industries they support. For example, if an Enterprise Resource Planning vendor caters to the Food and Beverage Industry, it is likely that the vendor will offer a Process Manufacturing module with extensive functionality. Because many Enterprise Resource Planning vendors are industry based, potential customers can more easily rule out those vendors that are not well suited to their organization’s needs.
Not only will different Enterprise Resource Planning solutions offer different modules, but each module most likely contains different functionality. For example, if you take a Finance module from two different Enterprise Resource Planning vendors, you might find that one module offers budgeting functionality and the other module does not. When considering an Enterprise Resource Planning solution for your business, be sure to explore all ERP modules that make up the Enterprise Resource Planning solution and the functionality each of the modules has to offer. This way you fully understand how the Enterprise Resource Planning solution will meet your business requirement.