What is Enterprise Resource Planning (ERP)?

ERP stands for Enterprise Resource Planning. It is a type of software system that organizations use to manage and integrate their core business processes into a single, centralized platform.

Key Functions:

• Finance & Accounting – General ledger, accounts payable/receivable, payroll.

• Human Resources (HR) – Recruitment, employee management, attendance, payroll.

• Procurement – Vendor management, purchase orders, supplier payments.

• Supply Chain & Inventory – Inventory control, logistics, order tracking.

• Manufacturing – Production planning, scheduling, quality control.

Purpose:
To improve operational efficiency, cost savings, and real-time decision-making by ensuring all departments share accurate and synchronized data.

Example Vendors:
SAP ERP, Oracle ERP, Microsoft Dynamics ERP, NetSuite ERP, JD Edwards, PeopleSoft.

Who Uses It:
Finance teams, HR departments, operations managers, supply chain managers, and large enterprises that need to coordinate multiple business functions.