41. ERP Full Form | What is Enterprise Resource Planning (ERP)

By | November 16, 2021
ERP Full Form | What is Enterprise Resource Planning (ERP)

Everyone should know full forms of words related to everyone. This page provides best full form and tells what is the full form of ERP. So your search for ERP full form is over. Page is dedicated to a basic full form. Go through and get meaning of ERP

ERP Full-Form Name: ERP Meaning

ERP — Enterprise Resource Planning

ERP Full-Form refers to Enterprise Resource Planning. EFT is a type of the business management software that is used by a company or an organization for interpreting, storing, managing and collecting data from multiple business activities. The business activities include manufacturing or delivery of services, management of inventory, payment, and shipping, planning of products, sales and marketing, and finance.

Characteristics of ERP

The operations of an ERP do not rely on regular updates. A common database that is managed and maintained by a DBMS or database management system is used by the ERP systems for performing their functions. The database supports all kinds of applications. It provides a consistent feel and looks across all business modules. While an ERP system is installed, the data or application is integrated with the information technology.

ERP  Full Form | What is Enterprise Resource Planning (ERP)

ERP Functional Areas

An ERP system as multiple modules and they are called ERP modules. These modules are the common functional areas that are covered by an ERP system. Thus, the ERP modules include financial accounting, human resources; order processing, project management, data services, management accounting, manufacturing, supply chain management, and customer relations management.

In financial accounting, the main functionalities include financial consolidation, payables, general ledger’s maintenance, etc. The human resources module consists of recruiting, retirement plans, etc. Order entry, sales commissioning, shipping, etc come under order processing modules. Project planning, and costing, performance units, billing, activity management, etc are included in the project management module. The data service modules include numerous self-service interfaces that are used by employees, suppliers and customers. The management accounting module includes cost management, budgeting, etc.

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