ERP which is an acronym for Enterprise Resource Planning has evolved from the large, enterprise-wide software development over the last thirty five years. The short form of ERP actually evolved from another acronym MRP, expanded as Material Requirement Planning or in some cases, Manufacturing Resource Planning. This technology originated in the early 80’s as a term that encapsulated the calculation of the entire materials requirement for a large company or enterprise. Most of the companies moved to a new management process called as ‘Just in time” abbreviated as JIT. During this period inventory planning and sales forecast became more dynamic. Moving form annual forecasts to monthly and from monthly to weekly forecasts demanded for a new flexible system to manage company wide operations planning.

Tags: Inventory, Planning