ERP Definitions

This glossary explains the meaning of key words and phrases that information technology (IT) and business professionals use when discussing ERP and related software products. You can find additional definitions by visiting or using the search box below.

  • D

    distribution requirements planning (DRP)

    Distribution requirements planning (DRP) is a time-based systematic process to make the delivery of goods more efficient by determining which goods, in what quantities, and at what location are required to meet anticipated demand.

  • dual sourcing

    Dual sourcing is the supply chain management practice of using two suppliers for a given component, raw material, product or service. Companies use this approach to lower the risk of relying on a single supplier, a practice called single sourcing. Sole sourcing, in contrast, means only one source is available.

  • E

    e-filing (electronic filing)

    E-filing is the electronic submission of information that is required by law.

  • e-invoicing

    E-invoicing (or electronic invoicing) is the delivery of bills and related information by an enterprise to its clients using electronic communications, usually the Internet.


    EDGAR (Electronic Data Gathering, Analysis, and Retrieval) is an online public database from the U.S. Securities and Exchange Commission (SEC).


    EDIFACT (ISO 9735) is the international standard for electronic data interchange (EDI).

  • engineering bill of materials (EBOM)

    An engineering bill of materials (EBOM) is a product recipe structured from the design standpoint, rather than the manufacturing standpoint.

  • enterprise accounting software

    Enterprise accounting software is technology that keeps track of an organization's financial transactions and data.

  • enterprise asset management (EAM)

    Enterprise asset management (EAM) is the process of managing the lifecycle of physical assets to maximize their use; save money; improve quality and efficiency; and safeguard health, safety and the environment.

  • Epicor Software Corp.

    Epicor Software Corp. is a global business software vendor that sells ERP and other software to small and medium-sized businesses (SMBs) and large enterprises.

  • ERP (enterprise resource planning)

    Enterprise resource planning (ERP) is an industry term for the broad set of activities that help an organization manage its business. An important goal of ERP software is to facilitate the flow of information so business decisions can be data-driven.

  • ERP finance module

    An ERP (enterprise resource planning) finance module is a software program that gathers financial data and generates reports such as ledgers, trail balance data, overall balance sheets and quarterly financial statements.

  • F

    Fast Guide to acronyms used in manufacturing

    These acronyms are often used in internal communications within a manufacturing environment.

  • financial analytics

    Financial analytics is the creation of ad hoc analysis to answer specific business questions and forecast possible future financial scenarios.

  • financial application

    A financial application is a software program that facilitates the management of business processes that deal with money.