O2P(Order to Payment)

Abstract

One of the oldest industries, which fulfill the basic needs of mankind, is Trading Company. It has become very important for a Trading Company to integrate with Information Technology to survive in this era of competition. The application of IT has effectively reduced time of Traders along with constant monitoring & rectifying the faults if any during the production change. One innovation has been the O2P System, which is a tool that brings about effective co-ordination between the departments of an organization to direct the process by providing comparative information & analysis regarding trends and forecasts. It assists in effective management of the supply chain, just-in-time inventory and information as well as enterprise logistics management. So, nowadays O2P System are largely used for effective monitoring and control, accurate planning and scheduling of orders, better data predictions, quick response to query and on-line detailed information of orders. This paper mainly deals with basic fundamentals of O2P System and role of O2P System in Trading Company along with its benefits and advantages.