ERP is a process of managing all resources and functions of an enterprise in a coordinated way through an integrated software solution. It supports business optimization by tightly integrating all functions on a common software platform. ERP provides benefits like one common system, improved customer focus, open communications, and integrated applications. Major ERP vendors include SAP, Oracle, and Microsoft. While ERP can improve efficiency, it also has disadvantages like high costs, forced changes, and complex implementations. For initial implementation, companies can use internal inventory management software to manage stock, IT assets, and basic HR functions on a single platform.