ERP stands for Enterprise Resource Planning. It is a software that integrates all departments and functions of a business into a single system to manage resources. ERP aims to enter a customer order once and have it automatically synchronize resources like materials, employees, machines required to fulfill the order. ERP has evolved over 40 years from inventory management techniques to integrated systems that manage all resources including finances. Major ERP providers include SAP, Oracle, Microsoft Dynamics and Infor. ERP provides advantages like lower costs, reduced errors and improved coordination across the business.