Definition of Enterprise Resource Planning

BBA 3551 Unit 4 DB
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Definition of enterprise resource planning (ERP)
Enterprise resource planning refers to a process by which the company manages and integrates the most important parts of the business (Epicor, 2015). Large corporations develop their EPR system from the ground up to suit particular and unique needs of the organization.
Industry Specific ERP and its benefits to the organization
Industry-specific ERP is business software that provides solutions to several companies across the globe. The solutions offered by the software exceed the traditional enterprise resource planning. Some of the solutions provided to the organization include; product management, financial management, human capital management, customer relationship management and supply chain management (Syspro, 2015). ERP is essential in defining organizational processes and ensures they are in line with the supply chain system. ERP also assist in protecting business critical data through well-defined roles and security access. ERP also facilitates planning of the organizational workload based on available orders and forecasts.
Epicor is one of the business software companies whose ERP software can be used to meet the needs of retail, distribution, manufacturing and service needs. It also offers customized business software that is relevant to a comprehensive range of vertical markets and industries. Next-generation ERP business software solutions have been developed to support various types of businesses regardless of whether they are small startups or large multinational corporations (Epicor, 2015). The new ERP model enables industries to handle the different level of complexities ranging from automotive distributors, metal fabricators, to cross-channel retailers and business service firms. ERP facilitates the organization to outdo the external competition by using more effective operations and customer service that meet the international standards. That is possible because through the ERP, the organization is able to leverage geographic diversity on cost and revenue side of the business.