Last Updated on August 7, 2022 by admin
What does ERP Stands for
ERP stands for Enterprise Resource Planning, and ERP is the world’s largest enterprise software used for controlling business processes let’s define what does ERP stands for and the meaning of ERP? The term ERP was coined by Gartner Group in the 1960s.
Enterprise Resource Planning (ERP) software places its focus on integrating an organization’s departments and functions (HR, logistics, Sales, Finance, Production etc.) into a single and integrated computer system that aims to serve all those department teams’ needs.
ERP SAP Training Tutorials
Major components of ERP Software
- Human Resources Management Systems
- Financial Systems
- Supply Chain Management
- Customer Resource Planning
- Manufacturing Resource Planning
ERP Meaning
In the 1990s, Enterprise Resource Planning or ERP uses multi-module application software for improving the performance of the business processes. ERP systems integrates with business activities across functional departments, from production planning, parts purchasing, inventory control, product distribution, fulfillment, to order tracking resources. This led to the evolution of ERP System. Also read what does SAP stands for.
What does ERP software do?
ERP software helps to implement all the functions of a company and it enables to plan, track, and utilize all the resources of the company. By using Enterprise Resource Planning software you can manage a company by collecting, organizing, and reporting information throughout the business process.
Common ERP Modules
- Purchase orders (PO)
- Financial Accounting and controlling
- Manufacturing Resource Planning (MRP)
- Customer Relationship Management (CRM)
- Human Resources (HR)
The major benefits of ERP systems are: better customer satisfaction, better information, high productivity, better quality and decreases in time to market, delivery time, inventory levels etc.
Related Terms: –
- SAP Full Form- Systems, Applications and Products in Data processing
- ERP Full Form – Enterprise Resource Planning
- SAP Hana Full Form – High Performance Analytic Appliance.
- List of SAP Acronyms.