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Enterprise resource planning (ERP)

Terms related to business, including definitions about project management and words and phrases about human resources, finance and vertical industries.

SEM - TAT

  • semantic network (knowledge graph) - A semantic network is a knowledge structure that illustrates how concepts are related to one another and how they interconnect.
  • semiotics - Semiotics is the study of the use of symbolic communication.
  • Sensex (BSE Sensex) - The Bombay Stock Exchange's Sensitive Index, called 'Sensex' or 'BSE Sensex' for short, is one of the leading stock market benchmark indices in India.
  • servant leadership - Servant leadership is a leadership philosophy built on the belief that the most effective leaders strive to serve others, rather than accrue power or take control.
  • service assurance (SA) - Service assurance (SA) is a procedure or set of procedures intended to optimize performance and provide management guidance in communications networks, media services and end-user applications.
  • service lifecycle management (SLM) - Service lifecycle management (SLM) describes the strategy and software for managing the maintenance and repair of products and maximizing the profit opportunities from these activities.
  • service supply chain - The service supply chain is the part of the supply chain dedicated to providing service on products.
  • service-level management - Service-level management is the monitoring and management of the quality of service(QoS) of an entity's key performance indicators(KPIs).
  • service-oriented management (SOM) - Service-oriented management (SOM) is the operational management of service delivery within a service-oriented architecture (SOA).
  • seven wastes - The seven wastes are categories of unproductive manufacturing practices identified by Taiichi Ohno, the father of the Toyota Production System (TPS).
  • severance agreement - A severance agreement is a contract between an employer and employee documenting the rights and responsibilities of both parties in the event of job termination.
  • share of wallet (SOW) or wallet share - Share of wallet (SOW) is a marketing metric used to calculate the percentage of a customer's spending for a type of product or service that goes to a particular company.
  • Shared Assessments Program - Shared Assessments is a third party risk membership program that provides organizations with a way to obtain a detailed report about a service provider's controls (people, process and procedures) and a procedure for verifying that the information in the report is accurate.
  • shared services - Shared services is the consolidation of business operations that are used by multiple parts of the same organization.
  • sharing economy - The sharing economy, also known as collaborative consumption or peer-to-peer-based sharing, is a concept that highlights the ability -- and perhaps the preference -- of individuals to rent or borrow goods rather than buy and own them.
  • should-cost analysis (should-cost review) - A should-cost analysis, also called a should-cost review, is a procurement strategy for cost optimization in which the customer reverse engineers the cost of producing a finished product or service and uses that information to negotiate a contract.
  • Silicon Valley - Silicon Valley is home to some of the world's largest technology corporations and thousands of technology-related startup companies.
  • single source of truth (SSOT) - Single source of truth (SSOT) is a concept that an organization can apply as part of its information architecture to ensure that everyone in the organization uses the same data when making business decisions.
  • SIPOC diagram (suppliers, inputs, process, outputs, customers) - A SIPOC (suppliers, inputs, process, outputs, customers) diagram is a visual tool for documenting a business process from beginning to end prior to implementation.
  • situational leadership - Situational leadership is based on the belief that there is no single way to direct people; successful leaders will adapt the way they lead to the needs and abilities of their employees.
  • SMAC (social, mobile, analytics and cloud) - SMAC (social, mobile, analytics and cloud) is the concept that the convergence of four technologies is currently driving business innovation.
  • Small Disadvantaged Business (SDB) - A Small Disadvantaged Business describes any small business concern that is at least 51 percent owned by one or more individuals who are both socially and economically disadvantaged.
  • small to medium enterprise (SME) - SME (small-to-medium enterprise) is a convenient term for segmenting businesses and other organizations that are somewhere between the "small office-home office" (SOHO) size and the larger enterprise.
  • smart city - A smart city is a municipality that uses information and communication technologies (ICT) to increase operational efficiency, share information with the public and improve both the quality of government services and citizen welfare.
  • smart contract - A smart contract is a decentralized application that executes business logic in response to events.
  • smart data - Smart data is digital information that is formatted so it can be acted upon at the collection point before being sent to a downstream analytics platform for further data consolidation and analytics.
  • smart manufacturing (SM) - Smart manufacturing (SM) is a technology-driven approach that utilizes Internet-connected machinery to monitor the production process.
  • SMB (small and medium-sized business or small and midsized business) - SMB is an abbreviation for small and medium-sized business, sometimes seen as small and midsized business.
  • snackable content - Snackable content is website content that is designed to be easy for readers to consume and to share.
  • social BPM (business process management) - Social business process management (BPM) is an approach to improving business processes that seeks to break down silos by encouraging a more collaborative, transparent approach to process improvement.
  • social business (social enterprise) - Social business is an umbrella term used to describe an organization that includes social media as part of its business plan.
  • social computing - Social computing is the collaborative and interactive nature of online behavior.
  • social CRM - Social CRM, or social relationship management, is customer relationship management and engagement fostered by communication with customers through social networking sites, such as Twitter and Facebook.
  • social media manager - A social media manager is the individual in an organization trusted with monitoring, contributing to, filtering, measuring and otherwise guiding the social media presence of a brand, product, individual or corporation.
  • social media marketing (SMM) - Social media marketing (SMM) is a form of internet marketing that uses social media apps as a marketing tool.
  • social media policy - A social media policy (also called a social networking policy)  is a corporate code of conduct that provides guidelines for employees who post content on the Internet either as part of their job or as a private person.
  • social media ROI - Social media ROI refers to the return on investment a company can expect to make from its investment in social media technologies.
  • social recruiting (social media recruitment) - Social media recruiting is the enterprise use of social media platforms to identify, engage and vet individuals the organization may want to hire.
  • social sourcing - Social sourcing, also called social recruiting, is a type of e-recruitment in which recruiters and HR managers search for job candidates by using social media sites.
  • soft copy - A soft copy (sometimes spelled "softcopy") is an electronic copy of some type of data, such as a file viewed on a computer's display or transmitted as an e-mail attachment.
  • soft skills - A soft skill is a personal attribute that supports situational awareness and enhances an individual's ability to get a job done.
  • SoLoMo (social, local and mobile) - SoLoMo (social, local and mobile) is a term representing the convergence of collaborative, location-based and on-the-go technologies, primarily used for marketing and discovery purposes.
  • solution provider - A solution provider is a vendor, service provider or value-added reseller (VAR) that comprehensively handles the project needs of their client from concept to installation through support.
  • solution selling - Solution selling refers to the philosophy or practice of uncovering a customer's pain points and then providing products and services that address the underlying business problem.
  • sparkline - A sparkline is a small embedded line graph that illustrates a single trend.
  • speculative risk - Speculative risk is a category of risk that can be taken on voluntarily and will either result in a profit or loss.
  • SPI model - SPI is an acronym for the most common cloud computing service models, software as a service, platform as a service and infrastructure as a service.
  • SPIF (sales performance incentive fund) - A SPIF(sales performance incentive fund) is a financial incentive that encourages a sales representative to sell a specific item or group of items.
  • spin (PR, marketing) - Spin, in the context of public relations (PR) and journalism, is the selective assembly of fact and the shaping of nuance to support a particular view of a story.
  • spiral model - The spiral model is a systems development lifecycle (SDLC) method used for risk management that combines the iterative development process model with elements of the waterfall model.
  • spreadsheet controls - Spreadsheet controls are a set of steps that an organization's accounting personnel can take to ensure accuracy and integrity of financial records and bookkeeping procedures.
  • stacked ranking - Stacked ranking is an employee evaluation method that slots a certain percentage of employees into each of several  levels of performance.
  • stakeholder - A stakeholder is a person or group who has an interest -- vested or otherwise -- in an enterprise and whose support is required in order for an enterprise to be successful.
  • standardization - Standardization is the process of developing, promoting and possibly mandating standards-based and compatible technologies within a given industry.
  • startup company - A startup company is a newly formed business with particular momentum behind it based on perceived demand for its product or service.
  • startup culture - Startup culture refers to how people within a new business, or startup, work together.
  • statement of work (SOW) - A statement of work (SOW), in project management, is a document in which a contracting officer or chief procurement officer (CPO) specifies the objectives and deliverables for a particular project or service contract.
  • statutory reporting - Statutory reporting is the mandatory submission of financial and non-financial information to a government agency.
  • steering committee - A steering committee is a group of high-level advisors who have been appointed to provide an organization or project with direction.
  • storyboard - A storyboard is a graphic organizer that provides the viewer with a high-level view of a project.
  • strategic inflection point - A strategic inflection point is a time period when significant change in the business environment requires an organization to respond effectively or face deterioration.
  • strategic innovation - Strategic innovation is a company's process of reinventing its corporate strategy to encourage growth, create value for the company and its customers, and gain competitive differentiation.
  • strategic leadership - Strategic leadership is a practice in which executives, using different styles of management, develop a vision for their organization that enables it to adapt to or remain competitive in a changing economic and technological climate.
  • strategic management - Strategic management is the ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives.
  • strategic planning - Strategic planning is a process in which an organization's leaders define their vision for the future and identify their organization's goals and objectives.
  • strategic sourcing - Strategic sourcing is an approach to supply chain management that formalizes the way information is gathered and used so that an organization can leverage its consolidated purchasing power to find the best possible values in the marketplace.
  • subscription management - Subscription management is the process of overseeing and controlling all aspects of products and services sold repeatedly through a weekly, monthly, quarterly or yearly subscription-based pricing model.
  • succession planning - Succession planning is a process of developing talent to replace executive, leadership or other key employees when they transition to another role, leave the company, are fired, retire or die.
  • sunk cost (SC) - A sunk cost is money that has already been spent and cannot be recovered.
  • sunk cost effect - The sunk cost effect is the tendency for humans to continue investing in something that clearly isn’t working.
  • sunsetting - Sunsetting, in a business context, is intentionally and gradually phasing something out.
  • Supplier performance management (SPM) - Supplier performance management (SPM) is a blanket term for any business practice that is designed to manage, measure and analyze the performance of a supplier or suppliers in a network.
  • supplier relationship management (SRM) - Supplier relationship management (SRM) is the systematic approach to evaluating vendors that supply goods, materials and services to an organization, determining each supplier's contribution to success and developing strategies to improve their performance.
  • supplier risk management - Supplier risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings that are caused by the organization's supply chain.
  • supply and demand - The laws of supply and demand are the observed relationships between the amount of something that is available for purchase, the level of desire consumers have to buy it and the price.
  • supply chain - A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product.
  • supply chain analytics - Supply chain analytics refers to the processes organizations use to gain insight and extract value from the large amounts of data associated with the procurement, processing and distribution of goods.
  • supply chain finance - Supply chain finance is a set of technology-enabled business and financial processes that provides flexible payment options for a buyer and one of their suppliers at lower financing costs.
  • supply chain management (SCM) - Supply chain management (SCM) is the optimization of a product's creation and flow from raw material sourcing to production, logistics and delivery to the final customer.
  • Supply Chain Operations Reference (SCOR) - Supply Chain Operations Reference (SCOR) is the process reference model used across industries as a supply chain management diagnostic tool.
  • supply chain risk management (SCRM) - Supply chain risks include cost volatility, material shortages, supplier financial issues and disasters.
  • supply chain security - Supply chain security is the part of supply chain management that focuses on the risk management of external suppliers, vendors, logistics and transportation.
  • supply chain sustainability (SCS) - Supply chain sustainability (SCS) is a holistic view of supply chain processes, logistics and technologies that affect the environmental, social, economic and legal aspects of a supply chain's components.
  • supply chain transformation - Supply chain transformation is the addition and integration of technology to improve supply chain performance.
  • supply chain visibility (SCV) - Supply chain visibility (SCV) is the ability of parts, components or products in transit to be tracked from manufacturer to final destination.
  • sustainability risk management (SRM) - Sustainability risk management (SRM) is a business strategy that aligns profit goals with a company's environmental policies.
  • sustainable procurement - Sustainable procurement is the meeting of business needs for materials, goods, utilities and services in an environmentally-friendly, responsible and ethical way.
  • SWIFT FIN message - SWIFT FIN is a message type (MT) that transmits financial information from one financial institution to another.
  • swivel chair interface - A swivel chair interface is a system for user input and interaction that requires them to move from one interface to another, sometimes duplicating work.
  • SWOT analysis (strengths, weaknesses, opportunities and threats analysis) - SWOT analysis is a framework for identifying and analyzing an organization's strengths, weaknesses, opportunities and threats.
  • synectics - Synectics is a method of problem-solving that focuses on cultivating creative thinking, often among small groups of individuals with diverse experience and skills.
  • SYSPRO - SYSPRO is a vendor that specializes in providing ERP and other integrated business software to midsize manufacturers and distributors.
  • systemic risk - Systemic risk is a category of risk that describes threats to a system, market or economic segment.
  • systems development life cycle (SDLC) - The systems development life cycle (SDLC) is a conceptual model used in project management that describes the stages involved in an information system development project, from an initial feasibility study through maintenance of the completed application.
  • systems of engagement - Systems of engagement are decentralized IT components that incorporate technologies such as social media and the cloud to encourage and enable peer interaction.
  • systems thinking - Systems thinking is a holistic approach to analysis that focuses on the way that a system's constituent parts interrelate and how systems work over time and within the context of larger systems.
  • T-shaped employee - A T-shaped employee, in the context of human resources, is an individual who has a depth of knowledge as well as skills in a particular area of specialization.
  • talent pipeline - A talent pipeline is a pool of candidates who are ready to fill a position.
  • targeted ad (targeted advertising) - A targeted ad, in online marketing, is an advertisement that is served to a specific audience, which could be a particular demographic, a group or an individual.
  • Tata Consultancy Services (TCS) - Tata Consultancy Services (TCS) is India's top software and services exporter.
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    Implementation is the execution or practice of a plan, a method or any design, idea, model, specification, standard or policy for...

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    First call resolution (FCR) is when customer service agents properly address a customer's needs the first time they call.

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