ERP 110 in MonsoonSIM’s Curriculum Roadmap— Path to Entrepreneurial Success Part 10!
“Business opportunities are like buses; there’s always another one coming.” –Richard Branson
MonsoonSIM’s cloud-based ERP simulation platform offers the opportunity to learn more about Material Requirements Planning through its ERP 110 module, which is one of the 14 modules found in MonsoonSIM’s curriculum roadmap.
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About Enterprise Resource Planning (ERP) for Beginners
ERP 110 is one of the 14-part Micro-course in the Introduction to Enterprise Resource Planning (ERP) to Business Students course series. Check out this page for an overview of the 14-part ERP Micro-Course series.
ERP 110: MRP (Material Requirements Planning) 2
ERP 110 is a more comprehensive continuation to ERP 109, which is Material Requirements Planning 1. Similar to the preceding module, the purpose of ERP 110 is to develop a deeper understanding of the supply planning system, the materials and components required to manufacture products, inventory management and more.
Covering the departments of MRP, Production, Finance, Wholesale, Procurement, Retail Sales, Logistics and Warehouse, and Planning/Forecasting, the ERP 110 module also involves making decisions with other stakeholders in mind, such as the customers, B2B clients, vendors and more.
With the ERP 110 module, the learning goals to accomplish include:
1. Understanding the impact of using MRP on production
2. How to decide on Production vs. Procurement split
3. Running a successful Retail and Wholesale business
Through this module, learners will have the opportunity to observe firsthand how multiple different departments within a business coordinate and cooperate with one another to ensure a smooth running and management of business, as well as understand the weight of material requirement planning in the real-world business environment.
Additionally, the ERP 110 module ensures that learners can grasp the correlation between material requirement planning and production, as well as know when would be the right time to opt for 100% production, 100% procurement or any other combination in between. The factors involved in making this decision can also be analyzed and understood more clearly.
Offering a unique, experiential learning opportunity for learners, MonsoonSIM’s business simulation and gamification education transforms the way business concepts are taught in class. MonsoonSIM looks forward to supporting both learners and teachers alike to have an enjoyable and meaningful learning experience as a class, in a way where there’s more to learn, easier to learn!