LG electronics is a subsidiary of LG group which is established in Seoul, South Korea. There are 119 subsidiaries available of this company worldwide and employing more than 80000 people. LG group also deals in home entertainment, mobile communications, home appliances and automobile components. LG electronics is the second largest TV manufacturer worldwide.
Why ERP is needed in LG electronics -
There were the following lacunas which were responsible for proper decision making -
lack of multiple and optimum utilization of resources.
multiplicity of information system lead to unclear information access.
No room for information sharing and disengaged employees.
Limited possibilities for employee learning and training
Challenges in proper decision making in lacuna of proper decision data
Selection of ERP software -
The company decided to follow the oracle technology as ERP software company because it had already used the ORACLE software and it had the following benefits by using it like -
large amount of hosting space
good facility of migrating data
multiple modules addition and removal
easy scalability and integration facilities
In addition to all these benefits, ORACLE had the worldwide access to the information system which could lead to the removal dependency of multiple systems in LG electronics.
What are the benefits of using ORACLE software -
There were following benefits -
A manageable single system
minimal maintenance cost
transparency in functional processes
readymade automated real time reports
No multiple information systems
Easy shareable information system among employees
increasing employee morale and productivity
Easy document sharing and real time reporting
Reducing in time and cost management
reporting based on real time accounting systems
Access of system from multiple devices
QUick and easy set up
Fine vendor contact facility for ad hoc training
Conclusion -
A proper selection of ERP software and vendor is needed for a company because it can definitely meet with the increasing requirement of proper data which can not only fulfill the gap between the demand and supply but also can provide growth to the company to the marketing scenario.