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Enterprise Resource Planning (ERP)
Enterprise resource planning (ERP) is a business management practice and methodology that centralizes and helps automate different business processes in a single system. ERP software helps businesses manage a wide range of activities, including human resources, accounting, finance, sales, marketing, logistics, and manufacturing.
What Small and Midsize Businesses Need to Know About Enterprise Resource Planning (ERP)
SMBs can benefit from adopting ERP platforms when they feel that they've outgrown their existing software (i.e., their processes are slow and inefficient) or they're handling large amounts of data. When deployed correctly, ERP solutions offer many advantages, including greater innovation and efficiency, process standardization, and cost savings.
Related terms
- Procurement
- Bill of Materials (BOM)
- Advanced Driver Assistance Systems (ADAS)
- Smart Factory
- Strategic Sourcing
- Value-Added Reseller (VAR)
- Telematics
- Supply Chain
- Vendor
- Enterprise Resource Planning (ERP)
- Supply Chain Planning (SCP)
- Scanner
- SCADA (Supervisory Control and Data Acquisition)
- Total Quality Management (TQM)
- Vendor Management
- Senpai
- Radio-frequency Identification (RFID)
- Loopback
- Total Cost of Ownership (TCO)
- Electro Mobility (e-Mobility)
