Enterprise Resource Planning

ERP refers to 'Enterprise Resource Planning' and can be defined as a software solution that addresses the enterprise needs of an organization. It is an industry term for the broad set of activities supported by multi-module application software. ERPs integrate selected business processes and data of an organization into a unified system. A typical ERP system will use multiple components of computer software and hardware to achieve the integration. A key ingredient of most ERP systems is the use of a unified database to store data for the various system modules.