ERP 105 in MonsoonSIM’s Curriculum Roadmap— Path to Entrepreneurial Success Part 5!

“I never dreamed about success—I worked for it.” –Estee Lauder.

MonsoonSIM’s cloud-based ERP simulation and experiential learning software platform helps teachers to enhance education and simplify the teachings within a classroom. The available business concepts and theories spanning over thirteen interconnected business departments are comprehensively brought together into one convenient platform, making it easier to teach. 

To learn more about MonsoonSIM, watch this video.

About Enterprise Resource Planning (ERP) for Beginners.

ERP 105 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 105: Wholesale Business 1

In ERP 105 (Wholesale Business 1), the business departments involved include Finance, Procurement, Retail Sales, Wholesales and with the addition of logistics/warehouse. Essentially, in this module, learners will be able to learn more about process flow, understanding the importance of the right location for business operations, consider stock move and logistics cost, as well as stock allocation for move order. 

In this module, the main learning goal for learners is to develop a deeper understanding over:

1.    B2B (Business-to-Business) dealings

2.    B2B biddings

3.    Sales order activities

4.    Stock allocation for sales order

5.    The process of order fulfillment

6.    The rewards and risks involved in big quantity businesses

Additionally, this gives students an experiential learning opportunity and deeper insights into procurement strategies, the concept of auto-stock replenishment and the influence of warehouses on product average cost. Students will be able to find out using the Furthermore, the financial rewards and risks of having warehouses will also be covered, enabling learners to sharpen their critical thinking and comprehensive knowledge when it comes to making business decisions.

Other opportunities provided in this module for further analysis and reflection for the learners include analysis on B2B dealing and bidding, sales order and stock allocation, order fulfillment and the corresponding reward and risk of big quantity businesses. where to set up the warehouses, how much space is needed, the length of rental and etc. Learners will have the opportunity to face firsthand within the module and reflect upon it.

To put it simply, the ERP 105 module offers a much-needed educational experience for learners, who will develop the skills and have the opportunity to apply business concepts and theories to their business decisions and analysis when it comes to actions such as which B2B deal to choose, which bid to participate and with what prices, which product will be in high demand according to the forecast analysis, and which products to allocate and stock.

MonsoonSIM’s immersive business simulation and gamification education platform ensure that learners and teachers alike will have an enjoyable and meaningful learning experience as a class. Providing a unique, experiential learning opportunity for students and transforming the way business concepts are taught in class, MonsoonSIM looks forward to supporting more students worldwide in a way where there’s more to learn, easier to learn!