ERP stands for “enterprise resource planning.” The definition of enterprise resource planning is, essentially, an integrated software solution used to manage a company’s resources. Business planning systems have been evolving for decades, and ERP, enterprise resource planning, is the current generation.
ERP’s immediate predecessors, MRP (material requirements planning) and MRP II ( manufacturing resources planning), focused mainly on managing the manufacturing and accounting resources of a company. Today’s ERP systems now integrate all business management functions, including planning, inventory/materials management, engineering, order processing, manufacturing, purchasing, accounting and finance, human resources, CRM, PM and business information analysis etc.,