TITLE:
Increasing Competitiveness in the Textile Industry: A Focus on the Accounting Benefits of ERP Systems by Exploring Cases from the UK & Greece
AUTHORS:
Dimitrios Charamis
KEYWORDS:
ERP Systems, Accounting Benefits, Textile Industry, Case Study
JOURNAL NAME:
Theoretical Economics Letters,
Vol.8 No.5,
April
17,
2018
ABSTRACT: Due to the competitive marketplace environment,
production companies need to increase efficiency. ERP systems can significantly
increase profitability, while decreasing operational costs. This paper is
focusing on the accounting benefits of ERP systems in the production sector,
and more specifically the textile industry. It also explores cross-cultural
differences regarding ERP use by looking into two cases from the UK and Greece.
The information gathered from the HQ and production plants influences
managerial decision-making and efficiency at an organizational and operational
level. However, differences in handling and acting upon the generated
accounting information are noticed between the two cases.