Introduction to ERP for Business Students (A NEW MICROCOURSE SERIES)
“The true entrepreneur is a doer. Not a dreamer.” – Nolan Bushnell.
Enterprise Resource Planning (ERP) Course Series
We at MonsoonSIM are proud to introduce our newest Micro-Course series: Introduction to Enterprise Resource Planning (ERP) for beginners. The ERP course series is a 14-part series to take business students through the process of running a complex multi-departmental business. The 14-part ERP course begins from ERP101 to ERP 114.
ERP stands for “Enterprise Resource Planning.” The standard definition is the integrated management of main business processes, often by software and technology. ERP software typically integrates planning, purchasing inventory, sales, marketing, finance, human resources, and more.
ERP software is widely used, across industries by people with different backgrounds. Large organizations (250 or more employees) are the leaders in the use of ERP solutions, of which 87.3% have implemented ERP systems. On average 26% of workers use their ERP software
To confidently make use of ERP software or implement it into a company; managers and end-users need to understand the business process. Anyone involved in enterprise resource planning should know the functions of each department, the flow of transactions, and make meaning of their business data. This is what the ERP- Micro course aims to address.As “More to teach” and “Easier to teach” as our core mission, we have designed this for all skill levels. Students will start from the very beginning from running retail stores all the way to managing a fast-moving WholeSales and E-commerce enterprise throughout the series.
What will be in the ERP series:
In the Micro-course teachers will be able to run their desired course quickly and efficiently. MonsoonSIM has added pre-prepared class materials including explanations of the business departments, the flow of transactions, KPIs, and learning outcomes. The students will get hints on how to perform well as a team, such as things they should be keeping an eye on and what decisions they need to make, (for example cash management, optimal selling price)
If you are unfamiliar with the MonsoonSIM experiential teaching and learning platform please watch this video
Who should run the ERP course series
This MicroCourse will suit any business studies field, but this series is useful for teachers running Accounting, Supply Chain Management courses, Economics foundational classes, or as a base for Business Analytics courses.
You will be able to efficiently set up the micro-course, go through the pre-prepared materials, and let students operate their business within minutes. This micro-course will aid you if you want students to understand the basic ERP process quickly so that you can move on to advanced concepts in your curriculum.
Learning Outcomes of ERP course
The ERP courses are designed to introduce beginner business students to the vast scope of the ERP process, by empowering them to experience operating a multi-departmental enterprise in a simulated economy. By going through the 14-part ERP micro-course, students will gain cross-functional knowledge, practical skills, and experience.
Overview of Knowledge Outcomes:
- Financial Reports
- Financial Ratios
- Marketing Basics
- Supply Chain basics
- B2B wholesales
- eCommerce fulfillment
- Supply and Demand
- Human Resources
Overview of Skills
- Business Intelligence
- Decision Making
- Cross function-communication
- Cash Management
14-part Enterprise Resource Planning MicroCourse
Modules turned on: General, Finance, Procurement, Retail
This course is great for first-time MonsoonSIM students. It starts with product and location explanations. The game begins with a simple procurement process flow. This course allows learners to explore and get familiar with the basic screen and menu navigation.
The ERP 101 module provides a valuable educational experience for learners, who will learn about basic retail strategy, cover the basics of procurement and also tackle a rudimentary understanding of financial reports.
“The future of a nation lies in the quality of education for young people. We live in a digital age where the crucial question is how to build data-driven professionals to help companies make better decisions. The best way is to connect the concepts of theory with practice.” – Dr. Violeta Cvetksoka from Ss. Cyril and Methodius University in Skopje, Faculty of Economics, Skopje, North Macedonia.
Modules turned on: Finance, Procurement, Retail Sales, Planning/Forecasting
In this module, besides covering the lessons learned in ERP 101 which entail basic retail sales there is an added module for Forecasting. Learners will read demand forecasts and develop strategies to meet the demand variation.
The ERP 102 module provides the perfect chance to facilitate experiential learning for students when it comes to concepts such as demand planning, drawing up procurement strategies and price strategies, as well as ensuring its successful and effective implementation.
“This simulation showed us what really goes into decision making and running of a business. I truly think I learned more by actually getting to utilize a simulated ERP system than I could have within a lecture or a book.” - Broad College of Business, Michigan State University.
Modules turned on: Finance, Procurement, Retail Sales, Marketing
This course is the basic retail business but with the added new marketing department. Learners will be able to buy market reports and gain market intelligence to make better pricing, rental space, and replenishment decisions. Learners will also be able to invest in marketing to boost their retail sales.
With a heavy focus on marketing and the external environment of the company, students will learn which media is best suited for each product in their company’s portfolio. Students will investigate how much to invest for which media and for which product, gain insights into their competitors, and carefully study the market share.
Learners will study financial data and make informed decisions based on it, instead of relying on intuition or instinct.
Modules turned on: Finance, Procurement, Retail Sales, Logistics/Warehouse
In ERP 104, the additional module of logistics/warehouses enables learners to gain a deeper understanding of the overall business process in addition to retail sales and procurement. Learners must decide where to set up warehouses, how much space to buy, study the length of rental contracts and manage the company’s stock.
Learners will be able to schedule auto-replenishment, consider the advantages and disadvantages of cheaper rent and they will be able to buy warehouses or retail stores. Upon making these financial decisions, they will be pushed to reflect on their purchasing decisions.
“It also has the ability to provide the students with the performance data for them to analyze and use their analytic skills to determine appropriate business strategies. This helps provide the "missing link" in most analytic programs. I have been looking for a tool that helps demonstrate the integration of ERP systems, and MonsoonSIM provides this.” - Severin Grabski, PhD, Faculty Director of the MS Business Analytics, Broad College of Business, Michigan State University.
Modules turned on: Finance, Procurement, Retail Sales, Logistics/Warehouse, Wholesales
In ERP 105 (Wholesale Business 1), the added business departments are Wholesales with the addition of logistics/warehouse. In addition to the previous retail business process, learners will now experience running B2B transactions while managing stock logistics.
The ERP 105 module allows learners to reflect on which B2B deal to choose, which bid to participate in, and with what prices. Additionally, insights from reports and forecast analysis will also allow learners to study which products will be in high demand, and which products to allocate and stock, thus enabling them to make more informed business decisions.
Modules turned on: Finance, Procurement, Retail Sales, Forecasting, Marketing, Logistics/Warehouse, Wholesales,
In this module, learners will explore and have a deeper understanding of planning/forecasting and marketing in addition to their wholesale and retail business. The ERP 106 module flows from the procurement stage to wholesale and retail sales, providing the chance for learners to consider more external stakeholders such as vendors, consumers, and other B2B clients.
It provides the perfect chance to facilitate experiential learning for students, covering the learning points such as how to read and analyze functions and charts across the various departments. Such as finance, procurement, retail, marketing, forecast, and warehouse, which involve the B2B process.
Modules turned on: Finance, E-Commerce, Logistics/Warehouse
In ERP 107, learners have a focus point of analysis and reflection on e-commerce activities. Learners will balance how much to buy and sell, consider shipping details to and from stores, and try to get good ratings in e-commerce. Furthermore, from the logistics/warehouse perspective, learners will understand the effect of late or timely delivery and the shipping fees involved.
In this course, escrow payments are introduced. Escrow payments and refunds are placed in the case of failed deliveries. Altogether, students will be able to search the e-commerce market and participate by buying or selling.
Through module 107, learners can take the time and effort to learn about allocating stocks from different locations and also manage the performance ratings.
Modules turned on: Finance, Procurement, Logistics/Warehouse
Manufacturing covers a broad array of activities and processes that convert raw materials (inputs) into finished goods (outputs), adding value to it through machinery, labor, tools, and more. As an essential sector of Enterprise Resource Management (ERP) manufacturing must be familiar to students.
As a learner of the ERP 108 module, this presents an opportunity to learn about the activities and decisions that drive the manufacturing department. This includes renting warehouses, procuring machinery and raw materials, changing production priority, machinery disposal processes, and production reports. From the finance perspective, learners will be exposed to the accounting process involved in manufacturing assets.
Modules turned on: MRP, Finance, Wholesale, Procurement, Retail Sales, Logistics/Warehouse
In ERP 109, learners will run their retail and wholesale business but the addition of Material Requirements Planning capabilities (MRP). MRP refers to a supply planning system that calculates the materials and components that are required to manufacture products. MRP considers inventory requirements, identifies the additional components that are needed, and schedules its production and purchase while balancing supply and demand.
ERP 109 provides learners the perfect opportunity to explore Material Requirements Planning as a whole. Through experiential learning, students will have a hands-on approach in knowing when to trigger Material Requirements Planning. They will discover how MRP calculates the company demands, consider setting safety stocks, practice how to move stock, observe how B2B affects MRP, and more.
“We are extremely happy with student engagement in the simulation and also the holistic understanding of accounting and business processes that students have gained. Students really enjoyed participating in the simulation and they report how much they have learnt from their participation.” - Dr. Christine, Associate Dean Teaching and Learning, Faculty of Business and Law, Senior Lecturer of the Department of Accounting at Deakin University.
Modules turned on: MRP, Finance, Wholesale, Procurement, Retail Sales, Logistics/Warehouse, Production, Planning/Forecasting
Similar to ERP 109 module, the ERP 110 delves even deeper into the concept of Material Requirements Planning, involving additional departments of production and planning/forecasting.
The ERP 110 course addresses the correlation between MRP and production. Additionally, learners will also have the opportunity to learn about the reasons why and in what specific situations will it be preferable to choose 100% produce, 100% procure, or a combination of the two.
Modules turned on: Production, Finance, Wholesale, Procurement, Logistics/Warehouse, Maintenance
The ERP 111 course, delves deeper into the maintenance department of businesses. This means responsibility towards the equipment, its corresponding performance, and the costs required to reach the expected performance level.
In analyzing the results from these maintenance decisions, learners will be able to understand the impact of performing or not performing maintenance. This also ties in with analyzing production reports and taking into consideration machine utilization. In terms of finance, learners can weigh the cost of maintenance as well.
Modules turned on: Finance, Procurement, Retail Sales, Human Resources
The ERP 112 module focuses on the department of human resources, which manages the workforce of the business. The human resource department organizes the recruitment process, the employment policies, benefits and welfare, training, payroll, and many other activities that concern the staff of the company.
Additionally, learners can develop a deeper understanding of OCEAN factors, which are the Big 5 personality traits, namely Openness, Conscientiousness, Extroversion, Agreeableness, and Neuroticism.
The ERP 112 course also demonstrates the correlation between OCEAN factors with staff issues or resignations, teaches learners how to calculate turnover ratios and other relevant human resources KPIs.
ERP 113: Service Business 1
Modules turned on: Finance, Human Resources, Customer Service
The ERP 113 module opens a new department for customer services. As customer service is an important aspect of the value chain for customers, providing a service to them before, during, and after a specific purchase. This course gives learners the opportunity to explore ways to deliver professional, relevant, and quality assistance to customers.
This module introduced manpower scheduling in customer service enabling learners to make decisions on which service requests to bid. This also addresses the question of whether the business has enough manpower to conduct sufficient customer service.
Tying back with the previous module, the impact of staff issues or resignations can also be observed in the customer service department. Learners can see incoming service requests, maintain a service sales order and participate in a sales service order bidding in this module. Moreover, learners conducting manpower scheduling can also directly observe the impact of staff resignation on service delivery.
ERP 114: Simple ERP Business Concept 2
Modules turned on: Maintenance, Human Resources, Customer Service, Planning/Forecasting, MRP, Production, Finance, Wholesale, Procurement, Retail Sales, Marketing, Logistics/Warehouse, E-Commerce
The ERP 114 module utilizes all interconnected departments to ensure that learners understand how to operate businesses as a whole and consider the external stakeholders, such as vendors, customers, B2B clients, web markets, and others.
Through this module, learners can understand all the functions and charts for finance, procurement, retail, marketing, forecast, warehouse, wholesale, e-commerce, production, MRP, maintenance, human resource, and customer services.
Dr. Scott Dell, CPA, DBA, Assistant professor of the School of Business, Francis Marion University, USA, also says, “The potential value to my students is immense. I have never seen a more complete or realistic simulation… The integration of gamification with team efforts stimulates the kind of thinking and soft skills that I like to see and could make a difference in inspiring my students as they take the knowledge learned from multiple educational disciplines and apply it within the competition.”
With an interconnected and comprehensive view of the entire business, learners can finally realize the correlation among 13 departments, analyze every situation and adapt to the changing business conditions, as well as meet the corporate and business targets.