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Define ERP. Define Lean Manufacturing. Discuss each.

Define ERP. Define Lean Manufacturing. Discuss each providing examples. How does each benefit the company?

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Define ERP. ERP (Enterprise Resource Planning) is a type of software used by businesses to integrate business functions: accounting, finance, manufacturing, human resources, etc. Popular ERP systems, like SAP, Oracle, and Peoplesoft, computerize the back-office functions of a business and are often tailored to the needs of individual companies. An example of ERP software changing the way a business handles key information is through sales. In a retail company, sales made at a retail location are recorded at store level in the ERP system. With the use of ERP software, sales information can be retrieved for use by the accounting department to produce financials, by the human resource department to calculate commissions, and by the purchasing department to verify ...

Solution Summary

The solution defines ERP and Lean Manufacturing. It also discusses each providing examples and explains how each benefits companies.