Group $5$

Group Name:

Project Proposal $-$ Enterprise Resource Planning $-$ Oracle

Website: Procurement Cloud $-$ Oracle

Website $-$ Take a tour of the product

The following proposal outlines the purpose of the upcoming project and presentation. The chosen Topic is Enterprise Resource Planning $($ERP$),$ and the Product is Oracle Procurement. It will include information on procurement processes using Oracle Procurement, its advanced features in driving efficiency, cost savings and strategic value for the organization.

Enterprise Resource Planning is a growing technology used in diverse environments, including finance, business management, and supply chain management. ERP is a system that allows for centralized business, maintaining information within one system, allowing visibility, transparency, and efficient management. Those qualities are precisely aspects needed in Procurement.

Oracle Procurement is an interesting tool that encompasses the following: Supplier Management, Sourcing, Procurement Contracts, Purchasing, Direct Procurement, and Procurement Analysis. The tool was chosen because of the importance these advanced systems pose for the efficiency of a supply chain, specifically for the procurement processes.

The project will be taking four main areas of Oracle Procurement:

The Benefits and Challenges

Cloud vs In House Options

Cost and Selection

Functionalities and Key Features

Nevertheless, it will also include explanations of the product, its component and impact on businesses. With this project we can be able to explore Oracle$$s capabilities, provides insights for strategic value and efficiency that would be beneficial for businesses considering Oracle in procurement.