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Enterprise Resource Planning (ERP)

Simple Definition for Beginners: Enterprise Resource Planning (ERP) is a type of software that helps businesses manage all their important activities, like accounting, sales, and human resources, in one place. Common Use Example: A manufacturing company uses an ERP system to track production schedules, manage inventory, process orders, and handle payroll, all within a single software platform. This integration helps the company operate more efficiently by providing real-time data and reducing manual work. Technical Definition for Professionals: Enterprise Resource Planning (ERP) systems are comprehensive software platforms designed to integrate and manage core business processes across an organization. These systems facilitate the flow of information between all business functions inside the boundaries of the organization and manage connections to outside stakeholders. ERP systems typically include modules for finance, human resources, supply chain management, production, inventory, sales, and customer relationship management. They use a centralized database to ensure data consistency and enable real-time data access, improving decision-making, operational efficiency, and resource management.

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