SUMMARY ASSIGNMENT

Mohsin Hassan Khan

SIR FAWAD ALAM

BBA(VII-A)
 THE FUTURE OF ENTERPRISE RESOURCE PLANNING (ERP) SYSTEMS
Several new trends and technological breakthroughs are anticipated to have an impact on it. Here are some
significant subjects that might influence ERP heading towards the future:

1. Cloud-Based ERP: Cloud computing use is expected to increase further, and cloud-based ERP systems will
spread more widely. Scalability, accessibility, cost-effectiveness, and easy connection with other cloud services
are just a few advantages of cloud ERP.

2. Artificial Intelligence (AI) and Machine Learning (ML): ERP systems might undergo a transformation thanks
to AI and machine learning technology. Intelligent automation, predictive analytics, and individualized user
experiences may all be made possible by these technologies. Chatbots and virtual assistants driven by AI may
improve ERP usability and support.

3. Internet of Things (IoT) Integration: Real-time data gathering from IoT devices and ERP integration may lead
to better supply chain management, inventory tracking, and preventative maintenance. IoT sensors and devices
may immediately input data into ERP systems, improving operational effectiveness and decision-making.

4. Mobile Accessibility: The popularity of mobile ERP software is projected to increase. With the growing
popularity of smartphones and tablets, employees can now access real-time data, communicate, and complete
tasks while on the move thanks to mobile access to ERP systems.

5. Data Analytics and Business Intelligence (BI): To make sense of the massive amounts of data they collect, ERP
systems will increasingly use BI and advanced analytics technologies. Decision-making, process optimization,
and growth opportunity identification may all be aided by predictive and prescriptive analytics capabilities.

6. Integration and Interoperability: Integration between ERP systems and other business software programmers
must continue to be seamless. Businesses will be able to use best-of-breed solutions thanks to open APIs
(Application Programming Interfaces) and standardized data formats, which will promote interoperability.

7. Personalization and User Experience: Future ERP systems will put a strong emphasis on providing intuitive,
user-friendly interfaces that are adapted to the unique requirements of each user. Personalised processes, role-
based access, and customizable dashboards will increase user adoption and productivity.

8. Blockchain Integration: The integration of blockchain technology with ERP systems can improve supply chain
traceability, transparency, and data security. Processes may be streamlined, fraud can be decreased, and audits
can be made easier using blockchain-enabled ERP.

As new technologies develop and corporate demands evolve, ERP will probably continue to adapt. These trends
give an indication of possible trajectories, but the precise course will rely on a number of variables, such as
market dynamics, technical developments, and industry requirements.