What is Enterprise resource planning (ERP)? Definition by Philip de Kock Pubilshed on 2017-12-01

Enterprise resource planning (ERP) is the integrated management of core business processes, often in real-time and mediated by software and technology.

ERP provides an integrated and continuously updated view of core business processes using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across various departments (manufacturing, purchasing, sales, accounting, etc.) that provide the data.

ERP facilitates information flow between all business functions and manages connections to outside stakeholders.

Extracted from en.wikipedia.org: https://en.wikipedia.org/wiki/Enterprise_resource_planning