What are advantages of Enterprise Resource Planning (ERP)?

Lower cost of operations by increasing efficiency of production.
Flexibility to respond and react to changing business requirement.
The data quality is improved by improving the underlying processes
The reporting system is improved as it follows an automated template system which allows various departments to access information simultaneously.
The customer relation also improves as a result of better business processes.
The data access is improved as all data is available in a single ERP database.
ERP system is easily scalable which means new functions in the system can be added easily.
Improved supply chain as the ERP system has procurement, inventory, demand etc in place which improves the supply chains