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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.
  • 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.
  • Epicor Software Corp. - Epicor Software Corp.
  • Erlang B - Erlang B is a modeling formula that is widely used in call center scheduling.
  • 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.
  • executive leadership - Executive leadership is the ability of an organization's management to guide and motivate employees while meeting organizational goals.
  • express consent - Express consent is permission for something that is given specifically, either verbally or in writing.
  • fair and reasonable price - A fair and reasonable price is the price point for a good or service that is fair to both parties involved in the transaction.
  • 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.
  • financial analytics - Financial analytics is the creation of ad hoc analysis to answer specific business questions and forecast possible future financial scenarios.
  • FinOps - FinOps -- a combination of the terms finance and DevOps -- is a framework for managing Opex across an organization, often in conjunction with the cloud and cloud computing.
  • fiscal year - A fiscal year is the twelve-month period that an organization uses for budgeting, forecasting and reporting.
  • 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.
  • freemium - Freemium is a way of promoting services by offering the basic features at no cost, charging a premium only for supplemental features.
  • funnel analysis - Funnel analysis is a way to measure and improve the performance of customer interactions in a step-wise progression from the initial customer contact to a predetermined conversion metric.
  • 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.
  • GDSN (Global Data Synchronization Network) - GDSN (Global Data Synchronization Network) is an internet-based network that enables trading partners to exchange product-identification data in a standardized way in real time.
  • Genchi Genbutsu - Genchi Genbutsu is the Japanese principle of going to and directly observing a location and its conditions in order to understand and solve any problems faster and more effectively.
  • general ledger (GL) - A general ledger (GL) is a set of numbered accounts a business uses to keep track of its financial transactions and to prepare financial reports.
  • Generation Z - Generation Z is the demographic cohort following Generation Y -- which is more popularly known as the Millennial Generation.
  • gig economy - A gig economy is a free market system in which temporary positions are common and organizations hire independent workers for short-term commitments.
  • 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 (GTM strategy) - A go-to-market strategy (GTM strategy) is an action plan that specifies how a company will reach target customers and achieve competitive advantage.
  • 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.
  • greenwashing - Greenwashing is a term used to describe a false, misleading or untrue action or set of claims made by an organization about the positive impact that a company, product or service has on the environment.
  • gross revenue - Gross revenue is the total of all money generated by a business, without taking into account any part of that total that has been or will be used for expenses.
  • group think - Group think (also spelled groupthink) is a phenomenon that occurs when group's need for consensus supersedes the judgment of individual group members.
  • GS1 - GS1 is a global, not-for-profit association that maintains standards for barcodes and RFID tags and for supply chain messaging such as Electronic Data Interchange (EDI).
  • hard skills - Hard skills are specific abilities, capabilities and skill sets that an individual can possess and demonstrate in a measured way.
  • hardware-as-a-service (in managed services) - Hardware-as-a-service (HaaS) is a procurement model that is similar to leasing or licensing in which hardware that belongs to a managed service provider (MSP) is installed at a customer's site and a service level agreement (SLA) defines the responsibilities of both parties.
  • 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.
  • HRIS (human resource information system) - A human resource information system (HRIS) is software that provides a centralized repository of employee master data that the human resource management (HRM) group needs for completing core human resource (core HR) processes.
  • 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.
  • IFS AB - IFS AB (Industrial and Financial Systems) is an ERP software vendor that specializes in asset-intensive, project-centric industries, such as manufacturing and distribution.
  • 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.
  • incremental innovation - Incremental innovation is the introduction of small improvements or upgrades to already existing products, services, processes or methods.
  • Industry 4.0 - Industry 4.0 refers to the fourth industrial revolution and the cyber-physical transformation of manufacturing.
  • information - Information is the output that results from analyzing, contextualizing, structuring, interpreting or in other ways processing data.
  • 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 rights management (IRM) - Information rights management (IRM) is a discipline that involves managing, controlling and securing content from unwanted access.
  • 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 an environment that organizations cultivate in order to nurture new, creative thinking and its application.
  • innovation management - Innovation management involves the process of managing an organization's innovation procedure, starting at the initial stage of ideation, to its final stage of successful implementation.
  • 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 management - Inventory management is the supervision of noncapitalized assets -- or inventory -- and stock items.
  • 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.
  • IoT Cloud (Salesforce IoT Cloud) - IoT Cloud is a platform from Salesforce.
  • IQMS - IQMS introduced one of its newest services, WebIQ, in August 2016.
  • IT asset - An IT asset is any company-owned information, system or hardware that is used in the course of business activities.
  • IT asset management (ITAM) - IT asset management (ITAM) is a set of business practices that combines financial, inventory and contractual functions to optimize spending and support lifecycle management and strategic decision-making within the IT environment.
  • IT budget - IT budget is the amount of money spent on an organization's information technology systems and services.
  • IT chargeback system - An IT chargeback system is an accounting strategy that applies the costs of IT services, hardware or software to the business unit in which they are used.
  • 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 innovation - IT (information technology) innovation in an enterprise is about using technology in new ways, where the result is a more efficient organization and an improved alignment between technology initiatives and business goals.
  • 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 service catalog - An IT service catalog is a list of technology resources and offerings available from the IT service provider within an organization.
  • IT strategic plan (information technology strategic plan) - An IT strategic plan is a document that details the comprehensive technology-enabled business management processes an organization uses to guide operations.
  • 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.
  • JDA Software - JDA Software is a software and consultancy company that specializes in selling supply chain management products and services to businesses.
  • 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.
  • key performance indicators (KPIs) - Key performance indicators (KPIs) are quantifiable business metrics that corporate executives, managers and other stakeholders use to track and analyze factors deemed crucial to meeting the organization's stated objectives.
  • key risk indicator (KRI) - A key risk indicator (KRI) is a metric for measuring the likelihood that the combined probability of an event and its consequence will exceed the organization's risk appetite and have a profoundly negative impact on an organization's ability to be successful.
  • 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.
  • labor arbitrage - Labor arbitrage is the practice of searching for and then using the lowest-cost workforce to produce products or goods.
  • 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.
  • law of diminishing returns - The law of diminishing returns is an economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain at a constant.
  • law of unintended consequences - The law of unintended consequences is a frequently-observed phenomenon in which any action has results that are not part of the actor's purpose.
  • lead scoring - Lead scoring is a methodology used by sales and marketing departments to determine the worthiness of leads, or potential customers, by attaching values to them based on their behavior relating to their interest in products or services.
  • 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.
  • leadership skills - Leadership skills are the strengths and abilities individuals demonstrate that help to oversee processes, guide initiatives and steer their employees toward the achievement of goals.
  • lean management - Lean management is an approach to managing an organization that supports the concept of continuous improvement, a long-term approach to work that systematically seeks to achieve small, incremental changes in processes in order to improve efficiency and quality.
Networking
Security
  • cloud security

    Cloud security, also known as 'cloud computing security,' is a set of policies, practices and controls deployed to protect ...

  • privacy impact assessment (PIA)

    A privacy impact assessment (PIA) is a method for identifying and assessing privacy risks throughout the development lifecycle of...

  • proof of concept (PoC) exploit

    A proof of concept (PoC) exploit is a nonharmful attack against a computer or network. PoC exploits are not meant to cause harm, ...

CIO
  • data collection

    Data collection is the process of gathering data for use in business decision-making, strategic planning, research and other ...

  • chief trust officer

    A chief trust officer (CTrO) in the IT industry is an executive job title given to the person responsible for building confidence...

  • green IT (green information technology)

    Green IT (green information technology) is the practice of creating and using environmentally sustainable computing resources.

HRSoftware
  • diversity, equity and inclusion (DEI)

    Diversity, equity and inclusion is a term used to describe policies and programs that promote the representation and ...

  • ADP Mobile Solutions

    ADP Mobile Solutions is a self-service mobile app that enables employees to access work records such as pay, schedules, timecards...

  • director of employee engagement

    Director of employee engagement is one of the job titles for a human resources (HR) manager who is responsible for an ...

Customer Experience
  • digital marketing

    Digital marketing is the promotion and marketing of goods and services to consumers through digital channels and electronic ...

  • contact center schedule adherence

    Contact center schedule adherence is a standard metric used in business contact centers to determine whether contact center ...

  • customer retention

    Customer retention is a metric that measures customer loyalty, or an organization's ability to retain customers over time.

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