Enterprise resource planning (ERP)

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

discrete manufacturing - Discrete manufacturing is an industry term for the manufacturing of finished products that are distinct items capable of being easily counted, touched or seen.
distributed control system (DCS) - A distributed control system (DCS) is a digital automated industrial control system (ICS) that uses geographically distributed control loops throughout a factory, machine or control area.
distribution center - A distribution center is a product storage and shipping building that stores goods a company produces.
distribution channel - A distribution channel is the network of individuals and organizations involved in getting a product or service from the producer to the customer.
distribution requirements planning (DRP) - Distribution requirements planning (DRP) is a systematic process to make the delivery of goods more efficient by determining which goods, in what quantities and at what location, are required to meet anticipated demand.
DMAIC (define, measure, analyze, improve, control) - DMAIC (define, measure, analyze, improve, control) is Six Sigma tool for improving an existing process.
dogfood - Dogfood is an expression that means to use the product or service that you are trying to sell.
dropshipping - Dropshipping is an e-commerce retail model that allows stores to sell products without keeping any physical inventory.
e-recruitment (e-recruiting) - E-recruitment is an umbrella term for any electronic-based recruiting and recruitment management activity.
emergency communications plan (EC plan) - An emergency communications plan (EC plan) is a document that provides guidelines, contact information and procedures for how information should be shared during all phases of an unexpected occurrence that requires immediate action.
employee churn - Employee churn is the overall turnover in an organization's staff as existing employees leave and new ones are hired.
employee engagement - Employee engagement is the emotional and professional connection an employee feels toward their organization, colleagues and work.
employee onboarding and offboarding - Employee onboarding involves all the steps needed to get a new employee successfully deployed and productive, while offboarding involves separating an employee from a firm.
employee productivity - Employee productivity, sometimes referred to as workforce productivity, is an assessment of the efficiency of a worker or group of workers.
end of life (EOL) - End of life (EOL), in the context of manufacturing and product lifecycles, is the final stages of a product's existence.
engineering bill of materials (EBOM) - An engineering bill of materials (EBOM) is a product recipe structured from the design standpoint, rather than the manufacturing standpoint.
Enterprise 2.0 - Enterprise 2.
enterprise architecture framework - An enterprise architecture framework (or simply EA framework) is the collection of processes, templates and tools that software teams use to plan and build large, enterprise-grade application architecture systems.
enterprise asset management (EAM) - Enterprise asset management (EAM) is the process of managing the lifecycle of physical assets to maximize their use; save money; improve quality and efficiency; and safeguard health, safety and the environment.
enterprise document management (EDM) - Enterprise document management (EDM) is a strategy for overseeing an organization's paper and electronic documents so they can be easily retrieved in the event of a compliance audit or subpoena.
enterprise IT (enterprise-class IT) - Enterprise-class IT (also known as enterprise-grade, or enterprise IT) is hardware, software and other IT services designed to meet the demands of a large organization.
enterprise mobility - Enterprise mobility is an approach to work in which employees can do their jobs from anywhere using a variety of devices and applications.
ERP (enterprise resource planning) - ERP, or enterprise resource planning, is software designed to manage and integrate the functions of core business processes like finance, HR, supply chain and inventory management in a single system.
ERP finance module - The ERP finance module is the software component that handles the main accounting and financial management functions of an enterprise resource planning system.
Fair Credit Reporting Act (FCRA) - The Fair Credit Reporting Act (FCRA) is United States federal legislation that promotes accuracy, fairness and privacy for data used by consumer reporting agencies.
Fast Guide to acronyms used in manufacturing - The following glossary or acronyms are those most used in internal communications within the manufacturing industry.
fishbone diagram - A fishbone diagram, also known as an Ishikawa diagram, or a cause-and-effect diagram, is a visualization tool for categorizing the potential causes of a problem.
FMEA (Failure Mode and Effects Analysis) - FMEA (failure mode and effects analysis) is a step-by-step approach for collecting knowledge about possible points of failure in a design, manufacturing process, product or service.
G-code - G-code (also known as geometric code or RS-274) is the most prevalent programming language for computer numerical control (CNC) machines used in computer-aided design and computer-aided manufacturing (CAD/CAM).
GAAP (generally accepted accounting principles) - GAAP (generally accepted accounting principles) is a collection of commonly followed accounting rules and standards for financial reporting.
globalization - Globalization is the process by which ideas, knowledge, information, goods and services spread around the world.
go-live (go live) - Go-live is the time at which something becomes available for use.
go-to-market strategy - A go-to-market strategy (GTM strategy) is an action plan that specifies how a company will bring a new product or service to market while reaching its target customers.
Google Trends - Google Trends is a free service provided by Google that displays how often specific keywords, subjects and phrases have been searched for on Google over a period of time.
GR/IR clearing account (goods receipt/invoice receipt clearing account) - A GR/IR clearing account (goods receipt/invoice receipt clearing account) is a bookkeeping device that can be used when goods arrive before the invoice is generated or when an invoice arrives before the goods are delivered.
hard skills - Hard skills are specific abilities, capabilities and skill sets that an individual can possess and demonstrate in a measured way.
Hawthorne effect - The Hawthorne effect is the modification of behavior by study participants in response to their knowledge that they are being observed or singled out for special treatment.
holacracy - A holacracy is a governance structure characterized by a distribution of power among self-organizing groups, rather than the typical top-down hierarchical corporate culture model.
holistic (holistic technology) - Holistic technology is an approach to IT management that considers the infrastructure as a whole instead of as a collection of individual systems.
hosted services - Hosted services are applications, IT infrastructure components or functions that organizations access from external service providers, typically through an internet connection.
human capital management (HCM) - Human capital management (HCM) is a comprehensive set of practices and tools used for recruiting, managing and developing employees as a valuable business 'asset' rather than just as a business 'cost.
hybrid ERP - Hybrid ERP is a combination of on-premises enterprise resource planning systems for managing essential business processes, such as financials and manufacturing, and cloud software for more specific functions.
hybrid manufacturing - Hybrid manufacturing is a term that describes combining additive manufacturing and subtractive manufacturing in a single machine system.
identity management (ID management) - Identity management (ID management) is the organizational process for ensuring individuals have the appropriate access to technology resources.
implied consent - Implied consent is an assumption of permission to do something that is inferred from an individual's actions rather than explicitly provided.
inbound marketing - Inbound marketing is a strategy that focuses on attracting customers, or leads, via company-created internet content, thereby having potential customers come to the organization rather than marketers vying for their attention.
Industry 4.0 - Industry 4.0 refers to the fourth industrial revolution and the cyber-physical transformation of manufacturing.
information governance - Information governance is a holistic approach to managing corporate information by implementing processes, roles, controls and metrics that treat information as a valuable business asset.
information lifecycle management (ILM) - Information lifecycle management (ILM) is a comprehensive approach to managing an organization's data and associated metadata, starting with its creation and acquisition through when it becomes obsolete and is deleted.
information technology (IT) director - An information technology (IT) director is the person in charge of technology within an organization.
initial public offering (IPO) - An initial public offering (IPO) is the event when a privately held organization initially offers stock shares in the company on a public stock exchange.
innovation culture - Innovation culture is the work environment that leaders cultivate to nurture unorthodox thinking and its application.
insourcing - Insourcing is a business practice in which work that would otherwise have been contracted out is performed in house.
integrated accounting system - An integrated accounting system is a type of software that combines major financial accounting functions into one application.
intellectual property (IP) - Intellectual property (IP) is a term for any intangible asset that is the product of someone's mind.
internet metering - Internet metering is a service model in which an internet service provider (ISP) keeps track of bandwidth use and charges users accordingly.
inventory turns (inventory turnover) - Inventory turns, also referred to as inventory turnover and inventory turnover ratio, are a popular measurement used in inventory management to assess operational and supply chain efficiency.
IT asset - An IT asset is any company-owned information, system or hardware that is used in the course of business activities.
IT budget - IT budget is the amount of money spent on an organization's information technology systems and services.
IT consultant - A consultant is an experienced individual in a given field who provides expert advice for a fee.
IT controls - An IT control is a procedure or policy that provides a reasonable assurance that the information technology (IT) used by an organization operates as intended, that data is reliable and that the organization is in compliance with applicable laws and regulations.
IT cost structure - IT cost structure refers to the relationship between different types of expenditures within a larger IT budget.
IT incident management - IT incident management is a component of IT service management (ITSM) that aims to rapidly restore services to normal following an incident while minimizing adverse effects on the business.
IT organization (information technology organization) - An IT organization (information technology organization) is the department within a company that's charged with establishing, monitoring and maintaining information technology systems and services.
IT strategy (information technology strategy) - IT strategy (information technology strategy) is a comprehensive plan that outlines how technology should be used to meet IT and business goals.
ITAR and EAR compliance - The International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations (EAR) are two important U.
just-in-time manufacturing (JIT manufacturing) - Just-in-time manufacturing (JIT manufacturing) is a production model in which items are created to meet demand, not created in surplus or in advance of need.
Kaizen (continuous improvement) - Kaizen is an approach to creating continuous improvement based on the idea that small, ongoing positive changes can reap significant improvements.
kanban - Kanban is a visual system used to manage and keep track of work as it moves through a process.
knowledge management (KM) - Knowledge management is the process an enterprise uses to gather, organize, share and analyze its knowledge in a way that's easily accessible to employees.
last mile delivery - Last mile delivery is a term used for transportation of merchandise from the nearest distribution hub to the final destination, such as a home or business.
leadership - Leadership is the ability of an individual or a group of people to influence and guide followers or members of an organization, society or team.
Lean Six Sigma - Lean Six Sigma is a data-driven approach to improving efficiency, customer satisfaction and profits.
LEED (Leadership in Energy and Environmental Design) - Leadership in Energy and Environmental Design, more commonly known as LEED, is an environmentally oriented building certification program run by the U.
letter of intent (LOI) - A letter of intent (LOI) is a written, nonbinding document that outlines an agreement in principle between two or more parties before a legal agreement is finalized.
lights-out management (LOM) - Lights-out management (LOM) is a form of out-of-band management.
line card - A line card may be a modular electronic telecommunications switching component on a printed circuit board, or a printed brochure or document that contains the names, descriptions and products that are sold by a third party.
logistics - Logistics is the process of planning and executing the efficient transportation and storage of goods from the point of origin to the point of consumption.
logistics management - Logistics management is the governance of supply chain management functions that helps organizations plan, manage and implement processes to move and store goods.
managed IT service - A managed IT service is an information technology (IT) task provided by a third-party contractor and delivered to a customer.
managerial grid model (The Blake and Mouton Managerial Grid model) - The managerial grid model was developed by Robert R.
manufacturing execution system (MES) - A manufacturing execution system (MES) is an information system that connects, monitors and controls complex manufacturing systems and data flows on the factory floor.
market development funds (MDF) - Market development funds (MDF) are a resource that a vendor grants to its indirect sales channel partners to help the channel with sales and marketing programs.
marketing automation - Marketing automation is a type of software that allows companies to effectively target customers with automated marketing messages across channels including email, websites, social media and text messages to generate sales leads.
marketing-qualified lead (MQL) - A marketing-qualified lead (MQL) is a website visitor whose engagement levels indicate they are likely to become a customer.
material requirements planning (MRP) - Material requirements planning (MRP) is a system for calculating the materials and components needed to manufacture a product.
memorandum of understanding (MOU) - A memorandum of understanding (MOU) is a formal agreement that outlines plans for a common line of action between two or more parties.
microsegmentation - Microsegmentation is a security technique that splits a network into definable zones and uses policies to dictate how data and applications within those zones can be accessed and controlled.
Microsoft Intune - Microsoft Intune is a cloud-based unified endpoint management (UEM) tool that aims to help organizations manage the mobile devices employees use to access corporate data and applications, such as email.
Microsoft Operations Framework (MOF) - Microsoft Operations Framework (MOF) is a series of 23 documents that guide IT professionals through the processes of creating, implementing and managing efficient and cost-effective services.
mission-critical application - A mission-critical application is a software program or suite of related programs that must function continuously for a business or business segment to be successful.
monthly recurring revenue (MRR) - Monthly recurring revenue (MRR) is income a company can reliably anticipate every 30 days and one of the key metrics for channel partner companies.
multilevel marketing (MLM) - Multilevel marketing (MLM) is a business model that involves unsalaried, hierarchical sales teams selling products directly to consumers in conjunction with recruiting additional company sales representatives.
multisourcing (multi-sourcing) - Multisourcing (multi-sourcing) is an approach to outsourcing in which IT operations and technology infrastructure are contracted to a number of vendors, usually in combination with some internally provided elements of information technology.
negative float (negative slack) - Negative float, also known as negative slack, is a common concept in project management that refers to the amount of time that must be saved to complete a project on time.
net price - The net price is the value at which a product or service is sold after all taxes and other costs are added and all discounts subtracted.
Net Promoter Score (NPS) - Net Promoter Score (NPS) is a metric that organizations use for assessing customer loyalty toward their brand, products or services.
not for resale (NFR) - Not for resale (NFR) is a designation for products that vendors give to their channel partners for testing and educational purposes with the understanding that the channel partner will not resell those products to the end user.
Nutanix - Nutanix is a private and hybrid cloud software provider.
OKRs (Objectives and Key Results) - OKRs (Objectives and Key Results) encourage companies to set, communicate and monitor organizational goals and results in an effective, transparent manner.