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Enterprise resource planning
Corporate task of optimizing the existing resources in a company / From Wikipedia, the free encyclopedia
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Enterprise resource planning (ERP) is the integrated management of main business processes, often in real time and mediated by software and technology. ERP is usually referred to as a category of business management software—typically a suite of integrated applications—that an organization can use to collect, store, manage and interpret data from many business activities. ERP systems can be local-based or cloud-based. Cloud-based applications have grown in recent years due to the increased efficiencies arising from information being readily available from any location with Internet access.
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ERP provides an integrated and continuously updated view of the core business processes using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across various departments (manufacturing, purchasing, sales, accounting, etc.) that provide the data.[1] ERP facilitates information flow between all business functions and manages connections to outside stakeholders.[2]
According to Gartner, the global ERP market size is estimated at $35 billion in 2021.[3][4] Though early ERP systems focused on large enterprises, smaller enterprises increasingly use ERP systems.[5]
The ERP system integrates varied organizational systems and facilitates error-free transactions and production, thereby enhancing the organization's efficiency. However, developing an ERP system differs from traditional system development.[6] ERP systems run on a variety of computer hardware and network configurations, typically using a database as an information repository.[7]