Enterprise Resource Planning (ERP)- Chapter 2,~14: Revised Q&A 2024

Enterprise Resource Planning (ERP)- Chapter 2,~14: Revised Q&A 2024 What is ERP? ERP is an acronym for Enterprise Resource Planning. How does ERP work? You need to take a step back and think about all of the various processes that are essential to running a business, including inventory and order management, accounting, human resources, customer relationship management (CRM), and beyond. At its most basic level, ERP software integrates these various functions into one complete system to streamline processes and information across the entire organization. How does ERP work? Enterprise Resource Planning (ERP) system integrates all business processes and functions into a single software system, using a single database. ERP system components: Financials Human resources Procurement and logistics Product development and manufacturing Sales and services Analytics Data in: - Operational Database - Data warehouse