ERP Package Selection Explained | Step-by-Step Guide to Choosing the Right ERP System for Students

📘 Chapter 5: ERP Life Cycle – Package Selection
In this video, we explore the ERP Package Selection process — one of the most critical stages in the ERP Life Cycle. You’ll learn how organizations evaluate, compare, and select the best ERP system that fits their business, technical, and functional needs.
🎯 What You’ll Learn:
1️⃣ Requirements Analysis – How companies identify technical and functional needs and document them effectively.
2️⃣ Short Listing – How to narrow down ERP vendors based on deal breakers and evaluation criteria.
3️⃣ Request for Proposal (RFP) – How RFPs are created and used to assess vendor solutions.
4️⃣ Demo Days – How to evaluate vendors through structured demonstrations and scoring systems.
5️⃣ Fit/Gap Analysis – How to compare business requirements with ERP capabilities to find the best fit.
6️⃣ Vendor Negotiations – How to finalize contracts, manage costs, and secure the best deal.
🎓 Ideal For:
Students studying ERP Systems, Management Information Systems (MIS), Business Process Management, or Enterprise IT — and anyone looking to understand real-world ERP selection and evaluation methods.
💡 By mastering these steps, you’ll gain a solid foundation for ERP-related assignments, case studies, and professional projects.
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