ERP (Enterprise Resource Planning)

It provides an integrated real-time view of core business processes, using common databases maintained by a database management system. It tracks business resources such as cash, raw materials, and production capacity, and the status of business commitments such as orders, purchase orders, and payroll. In other words, it provides totally integrated suites of software that support all functions within the organization including Finance, HR, Supply Chain Planning, and Procurement. With ERP, information flows smoothly among all business functions, and helps to manage connections with outside stakeholders. Its overall goal is to effectively plan and control resources to create a sustainable competitive advantage.