Business Processes and how they are developed in a variety of Research Paper

Business Processes and how they are developed in a variety of industries 3 company plus Aerospace and Defense - Research Paper Example It is popular because of its handy functioning which directs about correct scheme of operations (Hernandez, 1997). Financials: It provides powerful insights regarding future decision making. By budgeting and financial management through SAP, managers may get the acquiescence and better predictability ensured. It is a better means of future forecasting and budgeting decisions. It mechanizes the financial management (accounting and scrolling) and financial supply chain management through automation. It offers meticulous support for corporate governance authorizations for example Basel-II. Human Capital Management (HCM): It provides an optimized solution that covers the entire aspects of contemporary HCM practices. For example, Global view of human capital. It furnishes the aimed goals in a concrete and precise manner. The potential of workforce is optimized and maximized by introducing innovation and suppleness. The Human Resource processes are aided by keeping international standards and contemporary HR practices in view. Operations: It aids overall supply chain and logistics process. The decisions related to procurement, safety inventory and business facility are met basically. The complete view of business cycle and supply chain management is critically put forward. Profitability, production or manufacturing and distribution are the core areas covered while in a supply chain. Quality controlling, error reduction and quality assurance in operation management are the areas of business operations management. System Applications and Products (SAP) utility supports a wide range of business process across supply chain, operations and logistics management (Hernandez, 1997). Following is the brief description of processes which are basically supported by the software. Inventory management: Inventory management is the basic process in order to get operations proficiency. The two views of proficiency are efficiency and responsiveness which