What is ERP?
Are you running a business? If yes, then you’ve likely heard the term ERP —short for Enterprise Resource Planning —floating around in conversations, business books, or online tools. But what exactly is ERP, and why does it matter for your business, whether you’re a shop owner or an eCommerce entrepreneur? Which brings us to the question of the day, What Is ERP and Why Every Business Needs It (Even Small Ones)? ERP stands for Enterprise Resource Planning Let's begin with the basics of ERP with real-world examples and why even small businesses can’t afford to ignore it. Let's understand this in laymen's term with example. Picture this: You own a hardwares store in a busy marketplace. Your shelves are fully stocked with every item your customers might need. You’re always ready with supplies and rarely turn away a buyer. Sounds like success, right? But months later, you realise your business is bleeding money. • You’ve taken no loans. • You’re not paying any staff. • You d...