Question

What are *Core Modules* in *Enterprise Resource Planning*? and what are the *three most common core ERP components*?

Answer 1

Core modules in Enterprise Resource Planning (ERP) are the fundamental components that provide essential functionalities for managing various aspects of a business. The three most common core ERP components are Finance and Accounting, Human Resources Management, and Supply Chain Management.

Step-by-step explanation:

In Enterprise Resource Planning (ERP), core modules are the fundamental components that provide essential functionalities for managing various aspects of a business.

The three most common core ERP components are:

1. Finance and Accounting: This module handles financial management tasks such as general ledger, accounts payable and receivable, budgeting, and financial reporting.
2. Human Resources Management: This module focuses on managing employee information, including payroll, benefits administration, recruitment, performance evaluation, and employee self-service.
3. Supply Chain Management: This module streamlines the supply chain processes, including procurement, inventory management, order fulfillment, and logistics.