What is Enterprise Resource Planning (ERP)?

Enterprise resource planning (ERP) may be a process employed by companies to manage and integrate the important parts of their businesses. Many ERP software applications are important to companies because they assist them implement resource planning by integrating all of the processes needed to run their companies with one system.

An ERP software also can integrate planning, purchasing inventory, sales, marketing, finance, human resources, and more.

Example of an ERP system

ERP system examples are often categorized during a number of various ways; by the dimensions of the answer or the market share of the supplier; by the precise vertical industry that the system is meant to support; or consistent with the technology platform it runs on.

1-By Size

There are a little few large, multi-million dollar ERP providers that cater to an audience of other massive, multi-million dollar operations. With their market-share size, these two behemoths SAP and Oracle stretch the gambit of products and customers, but often lack the precise industry knowledge and customer support and services most companies search for .  

2-By Industry

Initially, ERP evolved in support of the “discrete” side of manufacturing—companies that affect hard goods fabricated and assembled from individual parts. Basically, discrete manufacturer’s products come from or are often made into other products; they’re a neighborhood of a bigger or smaller whole.

3-By Technology

There won’t be a big division in ERP solutions supported the operating environment during which they functioned. That’s not really the case anymore. Such a lot of that distinction has disappeared or become irrelevant with the near universal adoption of cloud-based architecture. Most companies are offering software as a service, or SaaS.