DEFINITION: it's a system which use's the same database through out an entire company to store various type's of data for different computerized function's.

CHARACTERISTICS

(1)An integrated system

(2)Operates in (or near) real time

(3)A common database that supports all the applications

(4)A consistent look and feel across modules

ADVANTAGES OF ENTERPRISE RESOURCE PLANNING

1. Complete visibility into all the important processes, across various departments of an organization (especially for senior management personnel).

2. Automatic and coherent workflow from one department/function to another, to ensure a smooth transition and quicker completion of processes.

3. A unified and single reportingsystem to analyze the statistics/status etc. in real-time, across all functions/departments.

4. Since same (ERP) software is now used across all departments, individual departments having to buy and maintain their own software systems is no longer necessary.

DISADVANTAGES OF ENTERPRISE RESOURCE PLANNING

1. The cost of ERP Software, planning, customization, configuration, testing, implementation, etc. is too high.

2. ERP deployments are highly time-consuming – projects may take 1-3 years (or more) to get completed and fully functional.

3. Too little customization may not integrate the ERP system with the business process & too much customization may slow down the project and make it difficult to upgrade.

4. The cost savings/payback may not be realized immediately after the ERP implementation & it is quite difficult to measure the same.

ERP Software is one of the fastest growing industry right now. It will created a lot of jobs for the young generations. Here are the top players in this market: https://www.softwaresuggest.com/gcc/erp-software