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ERPI can be used independently of FDM to load data and metadata from selected ERP source systems i.e. everything is configured and run from the workspace web interface. If you want to use FDM in conjunction with ERPI to make use of the extended functionality FDM offers the data load process then that is when you will need the ERPI adapter for FDM. You will still have to configure the ERPI components in workspace but the adapter allows you to execute/control the end to data load process from FDM. You only need to use ERPI if you have a requirement to drill back into the source ERP sytem or if you want to write back data (i.e. budgets) to the ERP system. If you don't have either of these requirements and drill back to FDM is sufficient then simply use FDM
Much more detail can be found in the ERPI administrator guide, FDM administrator guide and ERPI adapter readme. I would start with these as a first point of reference and then if there is anything specific you don't understand come back and ask the question.
Also ERPi can refresh the metadata using ODI engine