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

Both MRP and ERP are software that are used in organizations for different functions. MRP and ERP are used interchangeably sometimes. These both help in decreasing bottlenecks that might exist in the production. These bottlenecks may exist due to material shortages. Both of them are also used to keep the work progress smooth. Inventory control is another function that both MRP and ERP play.