OER provides teaching materials that are freely available and can be reused or modified. Some key benefits are saving costs, helping students learn and retain information, allowing collaboration on best practices, and providing quality resources for all. However, there are also challenges like the time needed to find and implement OER, maintaining resources over time, understanding licensing options, preparing adjunct faculty, and ensuring proper attribution when using digital materials. The document provides an overview of open educational resources including their definition, benefits, and challenges.