Answer
An enterprises resource planning system is an integrated business management system covering functional areas of an enterprise like Logistics, Production, Finance, Account and Human Resources. It organizes and integrates operation processes and information flows to make optimum use of resources such as men, material, money and machine. Taking information from every function it is a tool that assists employees and manager to plan, monitor and control the entire business.
Features of ERP
• ERP provides multi-platform, multi-mode manufacturing, multi-currency, multi-lingual facilities.
• It supports strategic and business planning activities, operational planning and is effectively integrated for flow and update of information immediately upon entry of any information.
• Has end to end supply chain management to optimize the overall demand and supply data.
• ERP bridges the information gap across organizations.
• ERP is the solution of better project management.
• ERP facilitates company-wide integrated information system concerning all functional areas like manufacturing selling and distribution, payables, receivables, inventory, accounts, human resources, purchase etc.
• ERP performs core activities and increases customer service, thereby augmenting the corporate image.
• ERP provides complete integration of system not only across department but also across companies under the same management.
ERP allows introduction of latest technologies like Electronics Fund Transfer (EFT), Electronic Data interchange (EDI), internet, intranet, video conferencing, E-commerce, etc.