Updating an erp system is added functionality

These inventory management systems can operate in a stand-alone fashion -- or they can be linked into logistics, shipping and billing systems.

Many inventory management systems also come with support for bar coding, SKU management and integration with other types of warehouse technology, such as sensors and hand-held mobile devices.

Despite the wide variability of company needs for ERP, there is a core set of ERP components that most companies want and should consider before implementing ERP systems.

Finance Companies want to record, track and consolidate all of their sales and operational information in a central accounting system.

ERP vendors are offering just that, with the ability to recruit and engage with new talent in the marketplace, to map out succession planning and to manage corporate compliance issues concerning employees.

Purchasing/procurement ERP purchasing software streamlines the procurement process, from purchase order issuance and vendor management to payments and reporting.

Businesses that sell products often have manufacturing, supply chain, inventory management and distribution functions that the ERP system must address.

This software also provides visibility into all resources being consumed in the project -- e.g., assets, inventory, materials and labor -- and it enables accurate and timely billing of project costs throughout the project's lifecycle.Companies can set order policies for individual parts and assemblies.The software also issues reports on inventory exception and potential oversupply conditions, and it can track inventory across multiple locations.Customer relationship management The ERP CRM application is a centralized repository of customer information that customer-facing departments across the company can use and access.It includes information about company interactions with prospects, customers, clients and partners, and can track all of these interactions across marketing, sales, service and any other customer-facing departments so that everyone is using the same information.

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