Final answer:
Extended ERP components enhance the basic functionalities of ERP systems, by incorporating additional modules like CRM, SCM, and BI to help businesses manage their interactions and operations more comprehensively.
Step-by-step explanation:
Extended ERP components are functionalities that go beyond the core processes covered by traditional Enterprise Resource Planning (ERP) systems. These components enhance the core ERP functionalities and extend its capabilities to streamline and improve additional business processes. Some examples of extended ERP components include Customer Relationship Management (CRM), Supply Chain Management (SCM), Business Intelligence (BI), e-commerce, and Advanced Planning and Scheduling (APS).
The integration of these components provides a more comprehensive solution that helps businesses manage not only their internal resources but also their interactions with customers, suppliers, and partners. For instance, CRM modules help with managing customer information, support, sales, and marketing; SCM modules optimize the flow of products and information between supply chain members; and BI tools analyze data to help make more informed business decisions.
With the inclusion of extended ERP components, businesses are able to gain a more holistic view of their operations and customer interactions, which enables better planning, improved customer service, and often leads to a competitive advantage in their respective industries.