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Functional areas

An ERP system covers the following common functional areas. In many ERP systems, these are called and grouped together as ERP modules: Financial accounting: general ledger, fixed assets, payables including vouchering, matching and payment, receivables and collections, cash management, financial consolidation Management accounting: budgeting, costing, cost management, activity based costing Human resources: recruiting, training, rostering, payroll, benefits, retirement and pension plans, diversity management, retirement, separation Manufacturing: engineering, bill of materials, work orders, scheduling, capacity, workflow management, quality control, manufacturing process, manufacturing projects, manufacturing flow, product life cycle management Order processing: order to cash, order entry, credit checking, pricing, available to promise, inventory, shipping, sales analysis and reporting, sales commissioning Supply chain management: supply chain planning, supplier scheduling, produc...
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Characteristics

ERP systems typically include the following characteristics: An integrated system Operates in (or near) real time A common database that supports all the applications A consistent look and feel across modules Installation of the system with elaborate application/data integration by the Information Technology (IT) department, provided the implementation is not done in small steps Deployment options include: on-premises, cloud hosted, or SaaS
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Origin

The Gartner Group first used the acronym ERP in the 1990s to include the capabilities of material requirements planning (MRP), and the later manufacturing resource planning (MRP II), as well as computer-integrated manufacturing. Without replacing these terms, ERP came to represent a larger whole that reflected the evolution of application integration beyond manufacturing. Not all ERP packages are developed from a manufacturing core; ERP vendors variously began assembling their packages with finance-and-accounting, maintenance, and human-resource components. By the mid-1990s ERP systems addressed all core enterprise functions. Governments and non–profit organizations also began to use ERP systems.
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