Enterprise Resource Planning (ERP)
"ERP(Enterprise Resource Planning Systems) comprises of a commercial software package that promises the seamless integration of all the information flowing through the company - financial, accounting, human resources, supply chain and customer information".
(T.J. Davenport, Harvard Business Review, July-Aug., 1998).
ERP Systems provide information management and analysis to organizations.
5 major ERP benefits:
- On-line/real time information throughout all the functional areas of an organization
- Data standardization and accuracy across the enterprise
- Best-practices" included in the applications
- The efficiency they force an organization to undertake
- The analysis and reporting that can be used for long term planning
