Oracle Cloud ERP career switch from Oracle EBS?
With the advent of BRIC nations, especially India and China, every organization view globalization as an opportunity for growth. Some of them want to tap the economical resources from these countries to reduce the cost of operations and others want to tap the growing market demand and see most of their growth coming from these nations. While the organizations might have some IT systems to depend to fuel their growth at home but they still need something to hold all their international operations together so that not only expansion but continuously monitoring and improvement actualization is also a possibility. Organizations can not focus on gaining a competitive advantage if they struggle to integrate their own international operations. Their internal operations need to be integrated first to achieving interoperability on a global scale. Seamless integration is easier to manage governance, risk and compliance. It all means that if the core ERP is capable of dealing with issues like multi currency, multi site and multi-company transfer of inventory, consolidation, localization and translation, then it is much easier for the organization to globalize their operations and benefit from them.
ERP also plays a key role in the consolidation of global financials for an organization. The ability to support a multi national implementation from a single instance of ERP and global consolidation across multi site and multi database (yes, that’s correct) implementations are the kind of benefits that enable organizations in their globalization endeavors.
ERP also addresses largely the major challenges, companies face in the wake of globalization, like complex supply chains both in raw material and finished goods, the need to adapt to the rules & laws of foreign nations, lead times that inhibit the ability to respond to customer or market demands and most importantly end to end supply chain visibility.
Having talked about the features of ERP that helps in globalization, there are few limitations in almost all the ERP products that still need to be addressed by the providers so that it can become a complete package. Issues like inability to capture the export or shipping documentation, lack of translated versions of ERP or challenges in managing global de-centralized IT installation. All these, force the organizations to customize the product or add best of breed systems to flank the core ERP system so that all of their needs are addressed.
If we look at the Best in Class organizations today, we will know that ERP is already implemented at all their major operating sites and conforms to corporate standards worldwide. Reporting capabilities are fully utilized and assist the executives in taking the right decisions at right time. They have realized the potential of ERP for them, have you?
Puneesh Lamba is a seasoned Supply Chain Management and ERP Expert who has more than 16 years of experience in SCM, ERP and Distribution areas in multiple industries and various organizations. He has worked across the globe with his major assignments in India, Americas and Europe. He keeps on contributing in the ERP and SCM space at his site http://www.infoverto.com leveraging the knowledge he has gatherd over the years and likes to debate on new trends as well as strategies for growth in his areas of interest.
The best project is well thought out and fully researched. It is not limited to a budget and time line, but focuses on tasks, owners, goals, and milestones. It begins at the time of software selection and goes well beyond go-live. And although most projects will stumble along the way, successful implementations that actually end on time and on budget are quite possible if managed properly.
we preach the importance of a solid selection and implementation plan. So much so, that we will voluntarily chose not to participate in the evaluation project if we feel the prospect’s selection process lacks structure. Why would we ever do that? Because the company will never be happy. If they do not know how to evaluate their own requirements or communicate those needs to others, they’ll never be able to successfully evaluate if a vendor’s ERP solution is a good fit for their unique requirements. And unfortunately if we can’t review their requirements with them, we cannot help evaluate if our package is a good fit either.
A solid evaluation project for new ERP software is broken out into some fairly set project goals and milestones. Regardless of the company, a proper project plan should include:
– A Review of Key Business Objects & Long-term Goals
– A Formation of a Selection Team & Project Leader
– An Ongoing Project Plan
– Research & Budget Preparation
– Clearly Defined Requirements & Project Goals
– Vendor Demonstrations & an RFP
– Reference Checks
– Data Migration
– Testing, Testing, & More Testing
– Training, Training, & More Training
In reality, you can easily execute on time, on task, and on budget by controlling the entire project through conception and go live. Led by in house or through an outside professional, flawless executions of software implementations are possible. They do not happen by chance, on their own, or without effort. But they are certainly a reality if given the right team and project plan.
Here i am sharing one of article on introduction on oracle apps 11i, though it is not written by me, still i thought to share with all to bring this quite simplified way to explain 11i or ERP etc.
(Also known as e-business suite)
Lets take an example. Suppose you are running a small grocery shop named “Janata Grocery”, so the typical operation as a shop owner is you basically buy groceries from some big seller and stock it in your shop. Now people come to your shop for day-to-day needs and buy stuff from your shop at a slightly higher price than what you originally bought and stocked it in your shop.
Ocassionally you may not be carrying items or run out of stock that people ask for so you make a note of it and promise the person to come back tomorrow and they will get their item. So far so good, now lets name some entities before we proceed and things get complicated. The big seller from whom you buy stock is called as Vendor, the people who come to your shop to buy things are known as customers, the stock in your shop is known as inventory.
So far we have identified few entities that play an active role in your day-to-day operations. As time goes by, your business expands and now you take orders over the phone and provide service to deliver the items to your customers, so you hire people to help you out in maintaining the inventory, do the delivery part and all the necessary stuff to keep the business running smoothly. The people you hire are known as employees.
So in this small shop, you typically manage the bookkeeping activities by hand using a notepad or something similar. Now imagine the same setup on a larger scale where you have more than 10,000 customers, have more than 1000 vendors, have more than 1000 employees and have a huge warehouse to maintain your inventory. Do you think you can manage all that information using pen and paper? Absolutely no way! Your business will come to a sudden stop sign.
To facilitate big businesses, companies like Oracle Corporation have created huge software known in the category of ERP (Enterprise Resource Planning) as Oracle Applications. Now coming to think of it, Oracle Apps is not one huge software, instead it is a collection of software known as modules that are integrated and talk to each other.
Now what is meant by integrated? First let us identify the modules by entities. For e.g Purchasing and Account Payables deal with the vendors since you typically purchase from vendors and eventually have to pay the dues. Oracle Purchasing handles all the requisitions and purchase orders to the vendors whereas Oracle Accounts Payables handles all the payments to the vendors.
Similarly Oracle Inventory deals with the items you maintain in stock, warehouse etc. Dealing with customers is handled collectively with the help of Oracle Receivables and Oracle Order Management. Order Management helps you collect all the information that your customer is ordering over the phone or webstore etc whereas Receivables help you collect the money for the orders that are delivered to the customers.
Now who maintains the paychecks, benefits of the 1000 employees? right! it is managed by Oracle Human Resources. So you get the idea by now that for each logical function there is a separate module that helps to execute and maintain that function.
So all the individual functions are being taken care but how do I know if I am making profit or loss? That’s where integration comes into play. There is another module known as Oracle General Ledger. This module receives information from all the different transaction modules and summarizes them in order to help you create profit and loss statements, reports for paying Taxes etc.
Just to simplify the explaination, when you pay your employees that payment is reported back to General Ledgers as cost i.e money going out, when you purchase inventory items the information is transferred to GL as money going out, and so is the case when you pay your vendors. Similarly when you receive items in your inventory it is transferred to GL as money coming in, when your customer sends payment it is transfered to GL as money coming in. So all the different transaction modules report to GL (General Ledger) as either “money going in” or “money going out”, the net result will tell you if you are making a profit or loss.
All the equipment, shops, warehouses, computers can be termed as Assets and they are managed by Oracle Fixed Assets. Initially Oracle Applications started as bunch of modules and as time passed by they added new modules for different and new functions growing out of the need for today’s internet world.
So if you come across a module that you are trying to learn and work on, first try to understand what business need is it trying to fulfill and then try to understand what the immediate modules that it interacts with. For e.g lets say you come across Oracle Cost Management module, you will learn that it helps to maintain the costs of items in your inventory and the immediate modules that it interacts with are Oracle Inventory (ofcourse), Oracle Bills of Material, Order Management and so on..
Oracle Financials, part of Oracle E-Business Suite, helps financial officers create an information-driven enterprise that synchronizes data centrally from all systems-including third-party systems-so financial information is consistently collected, calculated, analyzed, and stored, ensuring data integrity while reducing costs. This approach improves visibility into business, financial, and compliance performance across the enterprise; strengthens your control to enforce compliance with company and regulatory policy; and increases operational efficiency.