Therefore, the Amazon global marketplace allows businesses to expand their markets, reach millions of customers, build international brands and take advantage of Amazon's support service
The difference between on-premises ERP and cloud ERP
Cloud-based Enterprise Resource Planning (ERP) software offers significant cost-effectiveness by eliminating the need for upfront infrastructure investments, as organizations only pay subscription fees This model allows for faster deployment and improved accessibility, enabling users to access business data remotely, a feature lacking in traditional on-premises systems Moreover, cloud vendors implement stringent security measures, reducing the risk of disruptions more effectively than internal IT teams managing on-premises installations Cloud ERP systems also provide superior scalability, accommodating business growth and increased data volumes without the need for additional hardware Furthermore, cloud vendors manage software maintenance and upgrades, ensuring access to the latest versions without requiring dedicated internal IT resources, highlighting the compelling value of cloud-based ERP solutions.
ERP solutions offer over traditional on-premises deployments in terms of cost- effectiveness, accessibility, security, scalability, and reduced maintenance overhead
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When handling more operations, increasing hardware count is the best solution which again results in more cost
On-premise ERP system requires a full time IT team to maintain the software application and updates
Figure 32: Key differences between On-Premise ERP and Cloud-based ERP systems
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Acumatica is a powerful cloud-based ERP solution designed to support businesses across various industries with a range of industry-specific applications Its flexible and secure infrastructure enhances profitability and operational efficiency, while the modular design allows for the integration of specific modules tailored to unique business processes Notable for its user-friendly interface, Acumatica provides real-time access to critical data, including financials and CRM, enabling small and mid-market businesses to thrive in the digital economy through informed decision-making The cloud architecture offers scalability and accessibility, with reduced maintenance needs, as updates are managed by the vendor Additionally, Acumatica's customization capabilities ensure that the solution aligns perfectly with existing processes and supports future growth.
Acumatica is a flexible solution designed for various industries, providing a comprehensive suite of integrated tools for general businesses Its offerings include financial management, project accounting, payroll management, multi-entity and intercompany accounting, reporting and business intelligence, and customer relationship management (CRM) capabilities This all-in-one platform enhances operational efficiency, delivers real-time insights into financial data, and strengthens customer relationships.
Acumatica provides a powerful cloud ERP suite tailored for the manufacturing sector, featuring advanced functionalities such as bill of materials, routing, production management, material requirements planning (MRP), and engineering change control (ECC) With tools for advanced planning and scheduling, manufacturing data collection (MDC), product configurator, and manufacturing estimates, Acumatica enables manufacturers to optimize production processes, enhance supply chain visibility, and boost overall operational efficiency.
Acumatica offers a tailored construction management solution that empowers firms in the construction industry with robust business intelligence and enhanced operational visibility This comprehensive system includes dedicated modules for general contracting, home builder accounting, subcontractor accounting, land developer accounting, service management, and equipment management.
Acumatica's cloud ERP solution is designed to meet the specific challenges of distributors across different sizes and markets With features like sales order management, purchase order management, warehouse management, inventory management, order management software, and requisition management, it empowers distributors to optimize their supply chain processes and improve customer satisfaction.
Acumatica provides retailers with a comprehensive multi-channel retail and eCommerce solution designed to enhance in-store experiences and streamline online sales order processing Key features include commerce connectors, inventory management, sales order management, reporting and data analysis, warehouse management systems, and customer relationship management (CRM) tools.
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Figure 29: Acumatica Cloud ERP platform and its various components”?
Acumatica's Distribution Edition is a comprehensive cloud-based ERP solution tailored for distribution and inventory-centric businesses, offering flexibility and efficiency to small and mid-market distributors This advanced platform addresses the specific challenges faced by wholesalers and distributors by streamlining procurement and sales, optimizing inventory management, and automating warehouse operations Additionally, it integrates seamlessly with retail and eCommerce, while its built-in AI and machine learning capabilities enhance productivity by automating financial processes and providing real-time insights, ultimately boosting profitability.
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Figure 30: Interconnected features of Acumatica Distribution system”°
Acumatlcas Distribution Edition is an ideal solution for wholesale distributors in diverse sectors, including fashion, electronics, home goods, and health and beauty This software offers advanced supply chain capabilities that facilitate omnichannel sales strategies, streamline returns and exchanges, automate intercompany transactions, and enhance inventory management through barcode scanning and efficient paperless wave or batch picking.
The Distribution Edition integrates effortlessly with Acumatica's Construction, Manufacturing, and Retail Editions, offering a complete business management solution It features strong financial capabilities, native payroll, project accounting, service management, and interconnected quality control applications With role-based dashboards displaying key performance indicators and real-time data drill-downs, businesses can generate actionable reports that enable exception management and prioritize strategic initiatives for growth.
Acumatlcas Distribution Edition offers significant advantages for businesses by enhancing sales through effective up-sell and cross-sell functionalities, minimizing costs via improved inventory turnover and the removal of dead stock, and increasing customer satisfaction through self-service portals It also streamlines procurement processes to prevent stockouts and delays in shipments, while automating warehouse operations with an integrated Warehouse Management System (WMS) for quicker and more precise order fulfillment.
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Figure 31: Business process and applications in Acumatica Distribution system?!
Acumatica Distribution Edition is an exceptional software suite designed to enhance distribution management by boosting sales through effective up-sell and cross-sell options, along with item substitutions This functionality not only enriches the customer experience but also contributes to revenue growth Additionally, the software excels in inventory management, reducing costs by increasing inventory turnover and eliminating dead stock, which helps mitigate carrying cost inflation As a result, businesses can achieve significant cost savings and improved profitability Furthermore, Acumatica Distribution Edition fosters customer satisfaction through its streamlined storefronts and self-service portals, ultimately enhancing the overall shopping experience.
Streamlined procurement processes enhance loyalty and encourage repeat business by minimizing stockouts, rush orders, and late shipments This leads to smoother operations and excellent customer service, creating a stress-free environment Additionally, the integrated Warehouse Management System (WMS) automates warehouse activities, resulting in faster and more accurate order fulfillment This automation boosts efficiency, reduces errors, and ultimately improves customer satisfaction while lowering costs.
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Figure 32: Key benefits of Acumatica Distribution system”
Acumatica provides a smooth integration with Amazon's ecommerce marketplace, allowing for two selling methods: Fulfillment by Amazon (FBA) and Fulfillment by Merchant (FBM) This integration enables efficient synchronization of orders, shipments, and inventory across both platforms, ensuring that for FBM orders, customers can conveniently place their purchases directly on Amazon.
Acumatica seamlessly integrates with Amazon, allowing merchants to import sales orders for fulfillment while managing shipments through carriers like UPS, USPS, and FedEx Shipment tracking is synchronized back to Amazon for easy customer access For Fulfillment by Amazon (FBA) orders, products are sent to Amazon's warehouses, and when customers place orders, Acumatica generates invoices for billing, as Amazon handles fulfillment This integration also synchronizes customer information, payment methods, and shipping options, ensuring smooth product management and warehouse operations With Acumatica, inventory management across sales channels is streamlined, and planned enhancements will include automated inventory synchronization, payment reconciliation, and support for additional Amazon selling programs.
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AMAZON MACHINE LEARNING APPLICATIONS ninh 115 5.1 Importance of machine learning in modern business
Key industries that AWS applied machine learning
AWS offers a comprehensive suite of machine learning services, infrastructure, and deployment resources that empower enterprises to innovate at scale With over 100,000 customers, ranging from large corporations to emerging startups, AWS machine learning services have been instrumental in addressing business challenges and driving innovation Amazon SageMaker, in particular, equips users with the necessary infrastructure and specialized tools for every stage of the machine learning process.
ML lifecycle, allowing you to create, train, and deploy machine learning and foundational models at scale
Machine learning is essential in the manufacturing industry, enhancing predictive maintenance, quality control, and research innovation By analyzing sensor and equipment data, machine learning algorithms can forecast maintenance needs, reducing costly downtime and prolonging machinery lifespan Furthermore, these algorithms aid in quality control by detecting defects or anomalies in products, helping to maintain consistent quality standards.
The healthcare and life sciences sectors are increasingly utilizing machine learning to enhance diagnosis, treatment, and research The rise of wearable devices and sensors has led to the generation of extensive health data, which machine learning algorithms can analyze to provide healthcare professionals with real-time diagnosis and treatment suggestions Additionally, machine learning is playing a crucial role in developing solutions for cancer detection, diagnosing eye diseases, and identifying potential drug candidates, thereby significantly improving health outcomes.
In the financial services sector, machine learning plays a crucial role in enhancing risk analytics, detecting fraud, and optimizing investments By analyzing stock market trends and assessing hedge funds, machine learning models empower investors to uncover new opportunities and fine-tune their financial portfolios Furthermore, these advanced technologies help mitigate financial risks by identifying high-risk loan applicants and recognizing potential fraud indicators.
The retail industry is harnessing machine learning to enhance customer service, manage inventory, and execute effective marketing strategies By analyzing customer data, purchase patterns, and browsing behaviors, machine learning algorithms deliver personalized product recommendations and targeted marketing campaigns Additionally, these technologies optimize inventory management and supply chain operations, ensuring product availability while reducing excess stock.
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Amazon SageMaker is a fully-managed machine learning solution that offers a wide range of tools for developing, training, and deploying large-scale ML models efficiently It features an integrated development environment (IDE) that includes notebooks, debuggers, profilers, and MLOps capabilities, making it suitable for various use cases SageMaker ensures governance with simplified access control and transparency over ML projects Users can create and fine-tune their own large models (FMs) using specialized tools, as well as access hundreds of pre-trained models for quick deployment.
Amazon SageMaker offers significant advantages for organizations by enabling on-demand scaling of compute resources, which facilitates efficient training and deployment of machine learning models, regardless of dataset size or complexity Leveraging AWS's vast compute capacity, SageMaker ensures high performance and low latency for ML workloads Its user-friendly interface and preconfigured environments simplify infrastructure setup, while support for popular frameworks like TensorFlow, PyTorch, and Apache MXNet allows data scientists to work with their preferred tools without extensive retraining The platform's automatic model tuning feature enhances hyperparameter optimization, freeing up time for data scientists to focus on other development aspects Additionally, seamless integration with other AWS services streamlines the deployment, monitoring, and management of ML models, ensuring consistent performance and reliability in production environments.
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Amazon Comprehend is a fully managed natural language processing (NLP) service from Amazon Web Services (AWS) that allows developers to incorporate sophisticated language analysis features into their applications easily This service eliminates the need for extensive machine learning knowledge or infrastructure management, making it accessible for developers of all skill levels By utilizing AWS's pre-built models, users can efficiently analyze text and extract valuable insights.
Amazon Comprehend offers organizations the ability to extract valuable insights from unstructured text data, including documents, emails, social media posts, and customer feedback, through its trained and highly accurate natural language processing (NLP) models.
Amazon Comprehend is a robust tool designed to identify and extract various entities from text, such as names, organizations, locations, and events, enabling efficient information retrieval and analysis for organizations Its sentiment analysis capabilities allow businesses to assess customer satisfaction through feedback, comments, and reviews The service also simplifies content categorization by automatically extracting key phrases, while its language detection feature makes it suitable for multilingual settings Furthermore, users can develop custom entity recognition models tailored to their specific business needs, empowering organizations to derive valuable insights and make informed, data-driven decisions.
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HN utilizes an Amazon process to extract key phrases and entities from S3 data lakes, including emails, chats, and social media interactions This approach analyzes sentiment from various communication channels, such as emails, chats, social media, and phone calls, enabling quicker and more effective outcome assessments.
Esports, the dynamic world of professional video gaming, has seen a remarkable rise in popularity, drawing a vast global audience of passionate fans In an effort to enhance the esports viewing experience, Riot Games has initiated a collaboration focused on innovation and engagement.
Riot Games, the developer of popular games like League of Legends, VALORANT, and Wild Rift, has teamed up with Amazon Web Services (AWS) to launch the 'Win Probability' stat during the 2023 League of Legends World Championship broadcasts Utilizing Amazon SageMaker, this advanced feature leverages machine learning to analyze critical gameplay data, offering fans real-time insights into the chances of teams winning in comparable competitive situations.
Riot Games, in collaboration with the AWS Professional Services team, has created a self-service machine learning workflow that enhances their data scientists' ability to produce cutting-edge esports statistics This innovative solution allows the Riot team to focus on data exploration, modeling, and experimentation while efficiently deploying models in secure, production-ready environments With a robust and scalable framework established, new statistics can now be launched in as little as six weeks, and the fundamental principles of this workflow can also be adapted for other games.
The "Win Probability" statistic, developed with data from LoL Live Stats, offers real-time insights during tournaments In collaboration with AWS, Riot Games trained a machine learning model that analyzed various metrics, including individual player statistics like gold accumulation and respawn times, alongside team-level achievements such as defeating the Elder Dragon for temporary buffs To maintain relevance, the team carefully selected game patches and gathered data that would yield the most impactful results.
AWS has significantly influenced current gameplay by utilizing correlation charts, trial-and-error methods, and expert guidance This approach allowed them to evaluate the importance of specific features and integrate functionality into their model, ensuring consistent and automated outcomes.
The 'Win Probability' statistic was introduced during the 2023 League of Legends World Championship to enhance fans' understanding of the game and the factors affecting match outcomes This stat effectively illustrates the impact of key events, serving as a storytelling tool that helps viewers grasp the significance of in-game moments and their influence on the game's trajectory Following its initial trial at the 2023 Mid-Season Invitational, a viewer survey indicated that over 63% recalled the stat, with 94% finding it beneficial and nearly 80% expressing a positive view of it.
Figure 37: Inference workflow for the Win Probability stat?”
Riot Games and AWS have partnered to enhance the esports viewing experience through advanced machine learning and data analytics Utilizing Amazon SageMaker, the 'Win Probability' metric provides viewers with real-time insights into the likelihood of teams winning based on their current performance.
Innovative gameplay scenarios significantly enhance viewers' understanding of esports, enriching their overall experience As esports continues to grow in popularity, these strategies promote viewer engagement and create a more interactive and immersive environment.
This chapter highlights two essential techniques in project evaluation and management: Gantt charts and PERT charts It discusses their definitions, key components, construction methods, and practical uses in project planning, scheduling, timeline management, risk assessment, and progress tracking.
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