What are instances of master data seen in the context of ERP systems?

In the context of ERP systems, master data refers to the core entities that are crucial to supporting business processes across the organization. These entities serve as the foundational data that remains relatively stable over time, unlike transactional data, which frequently changes.

A company is an essential entity in ERP systems, as it defines the legal and operational framework within which all business processes occur. The company also influences how data is managed and how business rules are applied.

The customer is another critical element of master data, representing the individuals or organizations with whom the business interacts. Accurate customer data enables effective relationship management, sales tracking, and customer service operations, making it a vital component of ERP systems.

A factory, or production facility, also qualifies as master data. It identifies the location where goods are manufactured and plays a significant role in supply chain management, inventory control, and logistics within the ERP system.

Given the importance of all these entities—company, customer, and factory—in assisting and streamlining operations within an ERP system, the answer that encapsulates all instances of master data is the most comprehensive choice, reflecting the broad scope of essential data managed within these systems.