ERP Fundamentals in 2022: What Is It & How Does It Work?

Industry 4.0 is the adoption of computers and automation systems supported by data and machine learning in the supply chain and manufacturing segment. Industry 4.0 is compelling to redesign organizations whole supply chain. Digitization of supply chain is facilitated on the shoulders of Autonomous robots, Horizontal and Vertical system Integration, Simulation, The industrial internet of things, Cyber security, Additive manufacturing, the Cloud, Augmented reality, Big data, and analytics. Combining all the above technologies are helping companies to develop, change and optimize their supply chain and manufacturing.

ERP Fundamentals in 2022 What is it how does it work

The history of ERP systems commenced with material requirements planning (MRP) systems in the 1960s, that helped manufacturers manage raw materials procurement and delivery to the production facilities, so they could better plan production runs. The ‘80s saw the emergence of the first manufacturing resource planning (MRP II) systems that supported manufacturing processes beyond inventory and raw materials procurement.