Last Updated 10 May 2020

ERP financials combines

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Toy story need to clearly recognize and be acquainted with what or how the ERP is structured before implementation. It is always costly to put into operation new software. Nevertheless, the EPR software solution is dynamic a positive force to the company such while focus on business analysis, and focus on critical success factors with calculated planning and control. (Source: Supply chain secret, 2009) RECOMMANDATION: HIGHEST PRIORITY ENTERPRICE RESOURCE MANAGEMENT IMPLEMENTATION As we going though with the cases, we found many loopholes within the organizations that need to be addressed.

Documentation issues in accounting or financial is the highest priority in Toy story. Toy story need to consider and work harder in order to meet the achievements for the company. In this consultancy report, we agreed and considered that the accounting or finance department of company has been short of information systems. The role in accounting or finance department is playing all the transactions which are related to cash, payroll, accounts receivable/payable and expenses. The company is recommended and arranged to erase these issues with the range of IS perspective of implementations.

Recommendation of the application or software of Quick book or MYOB is suitable for the organisations sustainability for Toy story. It might be too pricey for Toy story to implement a giant ERP system, like SAP ERP Financials, where we regard as Toy story is only a medium size company. Therefore, we suppose that successfully implementation of TPS makes implementation of management information system worthier and easier at managerial level as shown in the following chart. (Source: Management Information System, 2006) ENTRIPRICE RESOURCE MANAGEMENT The information system or technology usage in Toy story is probable lack in performances.

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For instance, ERM, it is an appropriate system for Toy Story Company to conduct the business efficiently. ERM system will achieve and to help the organisation system keeping track of the elementary activities and transactions of the organization, such as sales, receipts, cash deposits, payroll, credit decisions, and the flow of materials in a factory. The principal purpose of systems at this level is to answer routine questions and to track the flow of transactions through the organization. (Source: Management Information System, 2006)

TRANSACTION PROCESSING SYSTEM

Due to lack of system in functional areas in Toy story, there is not any data or source to create any report in front of manager and address the progress and issues exactly. TPS has build in interaction functions that help flow within the organization. Operation level is essential required as it involves with order processing from sales and marketing department of organisation, material movement control from manufacturing and production department, account receivable and accounts payable from finance and account department, payroll and employee record keeping from human resources department.

(Source: Management Information System, 2006) INVENTORY SYSTEM The organization has expanded their businesses in dealing with 5 major product line and 200 small toys in these recent years. Nevertheless, Toy story has to establish a complete application or software to keep on track on their products life cycle. Solution addressed to inventory system: PRODUCTION CYCLE MANAGEMENT SYSTEMS (PLM) are based on data repository that organizes, or Toy story every piece of information that goes into making a particular product, such as formula cards, packaging information, shipping specifications, and patent data.

Company can select and combine once all the data is received. They need to serve specific functions. For example, designers and engineers can use the data to determine which parts are needed for a new design, whereas retailers can use them to determine shelf height and how materials should be stored in warehouses. This software becomes handy to Toy story for collecting all data for designing a new toys or products. (Source: Management Information System, 2006) COMPUTER AIDED DESIGN SYSTEM CAD is a powerful device for designing the products or toys for Toy story.

CAD systems will automate the modelling and design of their products. The software enables Toy story to create a digital model of a part, a product, or a structure and make changes to the design on the computer without having to build physical prototypes. This software is useful in Toy story when it comes to designing or producing new toys. (Source: Management Information System, 2006) INPUT AND OUTPUT FOR THE HIGHEST PRIORITY Documentation issues in Accounting or Financial department: The ERP financials solution we recommended is a full accounting or financial management solution system for Toy story.

ERP financials combines interior accounting and reporting facilities with financial supply chain, treasury, and performance management applications. These applications help Toy story modernize finance business processes, trim down operating costs, manage risk, ensure compliance, and provide robust and timely business insight. Accompanying, ERP Financials enables companies like Toy story to thrive in a business environment considered by intensifies competition and uncertain market conditions. (Source: SAP global, SAP Enterprise resource planning financials)

Toy story can easily transform their finance organization into a strategic business partner - one that provides essential business insight and helps make higher performance and increased shareholder value. FEASIBILITY Toy story is not operated or consider a large firm which has unlimited capitals or funds throughout the cash flow. On the other hand, Toy story is only a medium size of business with a limited capital and reserve to generate cash flow. It has clearly mentioned or presented in the financial reports such as the balance sheet and income statement.

Resource Feasibility This is not suggestible to go for completely renovation or build a new system of business at a point of time; however, we suggested that implementations can only be done step by step according to the plan as per priority wise will be genuine. First of all, managing resources need to manage the cost saving in each of every level from production floor to manager level. Toy story need to be careful for adopting a new technology for examples ERP, CRM, or KM. The cost in maintain of the information systems and computers is pricey.

Moreover, computer need to be maintained or repaired in one appointed of time like for every 18 months to achieve best performances. ECONOMIC FEASIBILITY Global businesses are innovated in operating or running with new information technology and using effective internet services such as ADSL2 and many other applications or software. Accompanying to competitive disadvantages and global recession issues, company needs to be pro active rather than reactive. Nevertheless, Toy story as like other organizations is developing their functional areas in large amount of communications throughout daily activities.

Therefore, introduction of TPS is highly recommended for Toy story in regulate to continuous profitability's for further sustainability and success. Introduction of TPS as mentioned as above early, changes will interact in each functional areas. Single or every data generated from the information system will make a useful knowledge or sources to managers for making decisions. CONCLUSION In conclusion, we come to understand the problem in Toy story and throughout the report we have solve and give basic solutions to the critic areas.

Implementation of ERM will give the organisation in practise of stronger teamwork and together toward the higher framework. Our recommendations of implementation concepts give wide and new experiences to Toy story in return to earn more customers and profitably through CRM system. In additional, KM is expressed one way advisable for bridging up the gap of communication and as well rid off a cultural cluster. My partner and I have work hard coming across to this stage for preparing this consultancy report to Tory story.

We appreciated the information have provided by toy story and we highly propose Toy story to consider our priority execution present to Toy story.

REFERENCES:

1. Jill Dyche: The Customer Relationship Management handbook, A business guide to Customer Relationship Management, Published by Addison-Wesly, 2001, pp. 3-7 retrieved on 15th May 2009, http://books. google. com. au/books? id=2E6S1_vqTKwC 2. Carol Gorelick, Nick J. Milton, Kurt April : Performance through learning, knowledge management in practice, Published by Butterworth-Heinemann, 2004, pp. 51-52

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ERP financials combines. (2018, Mar 18). Retrieved from https://phdessay.com/erp-financials-combines/

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