Final answer:
An ERP system is designed to enable all business departments within a firm to share information, streamlining processes and increasing efficiency. Unlike MRP, DSS, or POS systems, an ERP integrates multiple business functions into one comprehensive system.
Step-by-step explanation:
An information system that enables all business departments within the same firm to share relevant information and data is known as an Enterprise Resource Planning (ERP) system. This system facilitates the integration of various business processes and departments, from accounting to human resources to supply chain management. The goal of an ERP system is to improve and streamline internal business processes, which often leads to increased efficiency and reduces the likelihood of error due to data being spread across disparate systems.
In contrast, other types of systems such as Material Requirements Planning (MRP) systems are designed specifically to manage manufacturing processes, Decision Support Systems (DSS) provide support in decision-making processes, and Point-of-Sale (POS) systems are used for processing sales transactions.