At some point in time, most manufacturing companies realize the need for a software solution that allows different operational departments – procurement, production, warehousing and others – to share information. And it wouldn’t hurt if the same software could also loop in sales and finance. Any search for solutions raises a question almost immediately for most executives: What do the acronyms MRP and ERP stand for, and what’s the different between the two?

The terms are sometimes used interchangeably, and there is no standard definition for either. As manufacturing firms look to invest in and implement a software platform, it’s important to realize that each software solution is distinctive, and it does matter which one is chosen.…