What does ERP stand for?

ERP stands for Enterprise Resource Planning. This term refers to a type of software used by organizations to manage and integrate the essential parts of their businesses. An ERP software system can integrate planning, purchasing inventory, sales, marketing, finance, human resources, and more, thereby providing a comprehensive solution for tracking business resources and facilitating information flow between all business functions. By utilizing an ERP system, companies can gain insights into their operations, enhance efficiency, and streamline processes, which ultimately supports improved decision-making and productivity across the organization.

The other options do not accurately describe the established acronym ERP, as they refer to either non-existent concepts in this context or focus on specific areas that do not encompass the full scope of functions represented by ERP.