ERP (Enterprise Resource Planning) Software

ERP Software is a software that allows businesses to track all internal and external processes.  Its purpose it to facilitate the flow of information inside the company.  It can be useful for tracking things such as product lead times, parts ordering, materials and human resources.

Different components that can exist in an ERP software are:
-  Financials
-  Inventory Distribution
-  HR
-  Product management

It is very common to have a CRM (Customer Relationship Management) built into the ERP software, as that is usually an important part of Enterprise Resource Planning.  For those of you not familiar with the functionality of a CRM they track:
-  Company Customer Database
-  Supply Chain Management

The theory behind an ERP software is that it allows large corporations to view all the parts as a whole.  Integrating and improving each step of the businesses to work in conjunction with all the other facets of the company.  

Having an ERP software introduced to a large company is typically done by a professional as the software can be extremely complex.  If it is attempted to be done in-house it can often end in the software not being used to its full potential.