The word Enterprise Resource Planning or ERP conveys a sense of planning the use of enterprise-wide resources to achieve enterprise objectives in the best possible manner. However, ERP has come to mean something much less ambitious. It simply means integrating two or more separate applications.
The integration is done by the use of a common database and multiple software and hardware components. Thus an ERP system can include Manufacturing, Financials, Sales & Distribution, and HR functionalities in separate modules.
Integration of a number of systems results in:
-> Creation of a unified database that results in greater reporting capabilities,
-> Elimination of external interfaces between different applications that were needed earlier to exchange information between them, and
-> Standardization and lower maintenance costs as a single system replaces the earlier multiple systems.
Typical modules in modern ERP systems:
ERP System Modules
Manufacturing: This module facilitates manufacturing and related operations such as plant engineering, production scheduling, materials requirements lists, workflow...
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