Enterprise Resource Planning (ERP)

What is Enterprise Resource Planning (ERP)?

Operations

ERP stands for "Enterprise Resource Planning". It is a type of software system that allows businesses to manage and integrate their core business processes, such as accounting, procurement, inventory management, human resources, customer relationship management, and more.

ERP software typically provides a centralized database that can be accessed by different departments within an organization, allowing them to share information and collaborate more effectively. By integrating business processes and providing real-time visibility into operations, ERP systems can help businesses optimize their operations, reduce costs, and improve decision-making.

ERP software can be customized to meet the specific needs of different industries and organizations, and may be available as cloud-based or on-premises solutions. Implementation of an ERP system can be a complex and time-consuming process, but can ultimately lead to significant improvements in business performance and efficiency.

More Terms

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Brick and Mortar

What is Brick and Mortar?

Brick and mortar refers to a physical retail store or business location, as opposed to an online or virtual presence.

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Return on Ad Spend (ROAS)

What is Return on Ad Spend (ROAS)?

Return on ad spend (ROAS) is a marketing metric that measures the revenue generated from advertising campaigns relative to the amount spent on those campaigns.

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Conversion Rate

What is Conversion Rate?

The conversion rate is the percentage of your total website traffic that purchases from your store.