Enterprise Resource Planning

In 1990, Gartner Inc., a US company providing advice about business technology, has introduced the acronym 'ERP' (Enterprise Resource Planning). Enterprise Resource Planning (ERP) system represents one of the fastest-growing segments of the business software market. The best of this mammoth database workflow program offers large companies a new elegant way to integrate information across an organization. These system implement business process within the organization to achieve synergy in operation across various business units. One of the key features of a true ERP system is that the data is capture at the point of origin and impact all related subsystem thereby making it available to every participant in the processes. It is meant to integrate the entire enterprise, starting from supplier/vendor to the customer covering not only financial inbound and outbound logistics and human resources but also cross-functional supply chain optimization and execution and business intelligence function sets. This is a very complex subject and to understand it properly you need to have a certain level of business functional knowledge. Here I am going to explain in brief the objective, needs, components and implementation of ERP.