What is Enterprise Resource Planning (ERP)?

Enterprise Resource Planning Definition

Enterprise resource planning (ERP) refers to a type of software solution that is used to manage business activities like purchasing, finance, inventory management, material planning, order tracking, and supply chain management operations. Many ERP solutions today provide additional functionality relating to human resource management (HRM), customer relationship management (CRM) and manufacturing execution system (MES).

Related Terms

  • Material Requirements Planning (MRP)
  • Manufacturing Execution Systems (MES)
  • Inventory Management
  • Sales Quoting
  • Accounting
  • Customer Relationship Management (CRM)