21 July 2021, Kathmandu
Nepal Oil Corporation Limited is a monopoly state-owned trading enterprise of Nepal that imports, stores and distributes various petroleum products in the country.
In Nepal, no private or other companies are allowed to import Petrol and Diesel other than NOC.
Nepal Oil Corporation has implemented Enterprise Resource Planning (ERP) system.
What is ERP?
Enterprise resource planning (ERP) refers to a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations.
A complete ERP suite also includes enterprise performance management, software that helps plan, budget, predict, and report on an organization’s financial results.
Features of ERP
ERP systems tie together a multitude of business processes and enable the flow of data between them. By collecting an organization’s shared transactional data from multiple sources, ERP systems eliminate data duplication and provide data integrity with a single source of truth.
Finally, the system is implemented
The system has been implemented since Sunday after about a year of preparation. With this system, all the functions of the corporation have been digitized.
Prior to this, the implementation of the system was halted due to various reasons. The corporation has invested around Rs 250 million in the ERP system.
There will be online monitoring on the route from loading to unloading of tankers transporting petroleum products through the ERP system.
According to the corporation, through ERP, the accounts, administration, distribution, engineering, depots, branch offices, and aviation fuel depots of all the provinces are connected to the integrated information system. Fuel billing has started as soon as the ERP system is implemented.
The system will streamline the day-to-day operations of the corporation’s provincial offices, depots, and departments across the country. It is said that monitoring and instruction will be done from one place now.