ERP Implementation and Import Restrictions

As postulated by David Ricardo, a system of perfectly free commerce translates to high benefits to participating trading countries (Ricardo, 1951). In this section, the paper engages trade barriers in the US during the 1980s. Furthermore, advantages and disadvantages of these factors are considered in this segment.
Primary Goods and Services Traded By the US Internationally
Around the 1980s, the US held a dominant position in many export markets. The latter was because of its economic prowess and advancements in the manufacturing and technology segments. Consequently, most of its export product groups included electrical and computer machinery, aircraft, and spacecraft, and vehicles (Baily & Bosworth, 2014). The country also exported educational, financial, and legal expertise in addition to military related services but imported crude oil, pharmaceuticals, machines, and engines. Lastly, people service imports such as installation, maintenance, and troubleshooting of parts and equipment were imported by the nation.
Trade Barriers
During the 1980s, import policies such as tariffs, quotas, and customs inhibited favorable trade between the US and its trading partners. Additionally, limits on foreign equity participation locked out American firms from having a significant stake in foreign industries (Baily & Bosworth, 2014). Besides, some nations restricted the extent of service provision by foreign professionals. As a result, these factors slowed favorable trade between the US and its partners.
Pros and Cons of Trade Barriers
Pros of Import Policies
· Tax revenues for the government.
· Domestic producers receive higher prices for goods and services.
Cons of import policies
· Costlier imports were translating to higher prices for consumers.
· Increased cost of doing business in a foreign nation.
ERP
Enterprise resource planning (ERP) remains an integral element in smoothing business processes contributing towards the overall growth of firms (Schniederjans & Yadav, 2013). However, the success of this process relies on sufficient standardization of processes across a company’s segments through an understanding of existing gaps and intended goals. In this section, the implementation ERP in LG Electronics, a global electronics consumer’s giant is discussed.
Standardization of Processes across LG
LG Electronics focused on harmonizing the firm’s HR functions. This was meant to counter challenges that include high maintenance costs, inefficient decision-making, manual processes, and lack of transparency in local controls (Bradford, et al., 2014). In addition, the company faced issues with disengaged employees and limited localized resources meant to fund employee learning and training. In the implementation of the ERP system, LG engaged Oracle Consulting to put in place a single centralized system intended to replace dependency on the location specific system. Consequently, a single centralized system was proposed for implementation.
The system brought forth various benefits to the company as listed below:
· Increased employee productivity and morale.
· Transparency in employee and recruitment appraisal processes.
· Cost savings because of having a single system.
· Automation modules allowed full production control as per demand.
Conclusion
ERP systems place a critical role in organizations depicting high costs and variable time frames. Successful implementations of ERPs rely on a careful selection of vendors and solutions to be implemented. In addition, an understanding of the existing gaps facilitates the realization of the desired goals. In the case of LG Electronics, an engagement of Oracle facilitated the implementation of a centralized system meant to smoothen processes within the company. As a result, LG managed to realize the benefits of ERP through a thorough and extensive implementation process.

References
Bradford, M., Earp, J. B., & Grabski, S. (2014). Centralized end-to-end identity and access management and ERP systems: A multi-case analysis using the Technology Organization Environment framework. International Journal of Accounting Information Systems, 15(2), 149-165.
Schniederjans, D., & Yadav, S. (2013). Successful ERP implementation: an integrative model. Business Process Management Journal, 19(2), 364-398.