Enterprise Resource Planning Flashcards, test questions and answers

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What is Enterprise Resource Planning?

Enterprise Resource Planning (ERP) is a business management software system that enables the integration and coordination of all core business processes. It is designed to help organizations manage their operations and resources more efficiently, from product planning and development, to supply chain management, marketing, financials and human resources. ERP systems are used by organizations of all sizes from small businesses to global enterprises.ERP systems are designed to provide organizations with an integrated view of their data, which allows them to access up-to-date information on their operations in real time. This can help organizations make smarter decisions more quickly, improve customer service levels and increase profitability. ERP also helps reduce costs by eliminating manual processes, streamlining workflows and automating many routine tasks. Additionally, ERP systems provide better control over inventory levels and production schedules as well as improved visibility into supply chain management processes. ERP systems can also help improve organizational performance by providing sophisticated analytics that allow managers to analyze key business metrics such as sales trends or customer satisfaction ratings in order to identify areas for improvement or opportunities for growth. Furthermore, ERP systems offer employees easy access to centralized data which can help them work more efficiently and effectively while reducing the need for manual data entry or duplication of effort across departments or locations. In conclusion, ERP systems have revolutionized the way organizations operate in today’s digital landscape by providing integrated views of data that enable faster decision making with greater accuracy while improving efficiency across multiple areas of business operations.