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How Are MRP and ERP Similar? How Do They Differ

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How are MRP and ERP similar? How do they differ?


Definitions:

Raw Materials Purchases Cost

The expense incurred in buying raw materials intended for the manufacturing of products.

Budgeted Unit Sales

The number of units that an organization plans or expects to sell in a specific period, according to its budget.

Beginning Inventory

The value of all the inventory held by a company at the start of an accounting period.

Ending Inventory

The total value of all inventory items that a company has in stock at the end of an accounting period.

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