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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.

DIG - FOU

  • digital accessibility - Digital accessibility is design of technology products and environments to help people with various disabilities not be impeded or otherwise unable to partake in use of the service, product or function.
  • digital core - Digital core is the technology platforms and applications that allow organizations to transform into digital businesses and meet the new needs of the digital economy.
  • digital disruption - Digital disruption is the change that occurs when new digital technologies and business models affect the value proposition of existing goods and services.
  • digital economy - The digital economy is the worldwide network of economic activities, commercial transactions and professional interactions that are enabled by information and communications technologies.
  • digital enterprise - A digital enterprise is an organization that uses technology as a competitive advantage in its internal and external operations.
  • digital labor - Digital labor is work that is performed by robotic process automation (RPA) systems.
  • digital leadership - Digital leaders work in much the same way as a chief financial officer (CFO), a director of human resources or a chief operations officer (COO) works; they need to assure interested parties that the assets for which they are responsible maintain maximum value.
  • digital manufacturing - Digital manufacturing is a technology-based approach to production that links different data silos and processes in the manufacturing lifecycle so that stakeholders can make better business decisions both comprehensively and at each step.
  • digital marketing - Digital marketing involves the various efforts by a company to connect with customers through digital and online communication channels, including email, geolocation and mobile marketing, social media, online customer communities, webinars and other video-based content.
  • digital profiling - Digital profiling is the process of gathering and analyzing information about an individual that exists online.
  • digital strategy (digital media strategy) - A digital strategy is a blueprint for managing customer-facing information technology (IT) initiatives.
  • digital supply chain - A digital supply chain is a supply chain whose foundation is built on Web-enabled capabilities to fully capitalize on connectivity, system integration and the information-producing capabilities of "smart" connected products.
  • digital thread - Digital thread is a communication framework that connects traditionally siloed elements in manufacturing processes and provides an integrated view of an asset throughout the manufacturing lifecycle.
  • digital trust - Digital trust is the confidence users have in the ability of people, technology and processes to create a secure digital world.
  • digital twin - A digital twin is a virtual representation of a product or workflow across its lifecycle.
  • digital workplace - The digital workplace is the concept that businesses should use digital transformation (DX) to align technology, employees and business processes to improve operational efficiency and meet organizational goals.
  • direct competition - Direct competitors are businesses that offer products or services that are essentially the same; as such, they are vying for the same potential market.
  • direct digital marketing (DDM) - Direct digital marketing (DDM) is the electronic delivery of relevant communications to specific recipients.
  • direct market reseller (DMR) - A direct market reseller (DMR), also known as an e-tailer, is a company that sells directly to consumers online without operating storefront operations of any kind.
  • direct marketing - Direct marketing is a type of advertising campaign that seeks to elicit an action (such as an order, a visit to a store or website or a request for further information) from a selected group of consumers in response to communication from a marketer.
  • Director of First Impressions - Director of First Impressions is a job title that is increasingly replacing that of receptionist.
  • disambiguation - Disambiguation (also called word sense disambiguation) is the act of interpreting the intended sense or meaning of a word.
  • disaster recovery (DR) test - A disaster recovery test (DR test) is the examination of each step in a disaster recovery plan as outlined in an organization's business continuity/disaster recovery (BCDR) planning process.
  • disaster recovery plan (DRP) - A disaster recovery plan (DRP) is a documented, structured approach that describes how an organization can quickly resume work after an unplanned incident.
  • 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.
  • disruptive innovation - Disruptive innovation is the introduction of a product or service into an established industry that performs better and, generally, at a lower cost than existing offerings, thereby displacing the market leaders in that particular market space and transforming the industry.
  • disruptive technology - A disruptive technology is one that displaces an established technology and shakes up the industry or a ground-breaking product that creates a completely new industry.
  • distance learning (e-learning) - Distance learning, sometimes called e-learning, is a formalized teaching and learning system specifically designed to be carried out remotely by using electronic communication.
  • 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 requirements planning (DRP) - Distribution requirements planning (DRP) is a time-based 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.
  • distributor agreement (distribution agreement) - A distributor agreement, also known as a distribution agreement, is a contract between channel partners that stipulates the responsibilities of both parties.
  • DMADV - DMADV is a process defined by Motorola as part of their Six Sigma management philosophy.
  • 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.
  • dollarization - Dollarization is the adoption of a foreign country’s currency as legal tender for monetary transactions.
  • driver-based planning - Driver-based planning is an approach to management that identifies an organization's key business drivers and creates a series of business plans that mathematically model how those things most necessary for the organization's success would be affected by different variables.
  • dropshipping - Dropshipping is an e-commerce retail model that allows stores to sell products without keeping any physical inventory.
  • dual sourcing - Dual sourcing is the supply chain management practice of using two suppliers for a given component, raw material, product or service.
  • due diligence - Due diligence definition: Due diligence is the process of systematically researching and verifying the accuracy of a particular statement.
  • dynamic case management (DCM) - Dynamic case management (DCM) is the handling of case-based work through the use of technologies that automate and streamline aspects of each case.
  • dynamic pricing - The goal of dynamic pricing is to allow a company that sells goods or services over the Internet to adjust prices on the fly in response to market demands.
  • e-business (electronic business) - E-business (electronic business) is the conduct of business processes on the internet.
  • e-filing (electronic filing) - E-filing is the electronic submission of information that is required by law.
  • e-recruitment (e-recruiting) - E-recruitment is an umbrella term for any electronic-based recruiting and recruitment management activity.
  • E-stop - E-stop (emergency stop) is a simple, highly visible button designed to shut down operations on heavy and/or dangerous equipment.
  • EDGAR - EDGAR (Electronic Data Gathering, Analysis, and Retrieval) is an online public database from the U.
  • Einstein Language - Einstein Language is a natural language processing (NLP) feature that analyzes and translates consumer's unstructured text into actionable information.
  • electric grid - An electric grid is a network of synchronized power providers and consumers that are connected by transmission and distribution lines and operated by one or more control centers.
  • embedded IT - Embedded IT is the process of inserting information technology staff and expertise into other business units in order to quickly and more effectively identify and pursue new business opportunities and increase the likelihood that IT projects are deployed successfully.
  • emergency communications plan (EC plan) - An emergency communications plan (EC plan) provides guidelines, contact information and procedures for how information should be shared should a crisis that requires immediate action occur.
  • emergency management plan - An emergency management plan should include measures that provide for the safety of personnel and, if possible, property and facilities.
  • emergency notification system - Emergency notification systems contain names, addresses, phone numbers and email addresses so crucial information can be communicated to employees during a disaster.
  • emotional intelligence (EI) - Emotional intelligence (EI) is the area of cognitive ability that facilitates interpersonal behavior.
  • employee advocacy - Employee advocacy is the promotion of an organization by its staff members.
  • employee assistance program (EAP) - An employee assistance program (EAP) is an arrangement between a corporation, academic institution or government agency and its employees that provides a variety of support programs for the employees.
  • 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 connection an employee experiences that results in a willingness to expend discretionary effort at work.
  • employee life cycle - Employee life cycle -- also spelled employee lifecycle -- is an HR model that identifies the different stages a worker advances through in an organization in, as well as the role HR plays in optimizing that progress.
  • employee onboarding and offboarding - Employee onboarding and offboarding are two core HR activities that are gaining in importance.
  • employee productivity - Employee 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 (EA framework) is the collection of processes, templates and tools that are used to create an enterprise architecture (EA).
  • 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 IT, also known as enterprise-class IT, is hardware and software 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.
  • ergonomics - Ergonomics (from the Greek word "ergon" meaning work, and "nomoi" meaning natural laws), is the science of refining the design of products to optimize them for human use.
  • 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.
  • executive sponsor - An executive sponsor is a C-level administrator who has a vested interest in seeing a project to completion.
  • exit interview - An exit interview is a meeting between management representatives and someone who is leaving an organization.
  • exit strategy - An exit strategy is a planned approach to terminating a situation in a way that will maximize benefit or minimize damage.
  • express consent - Express consent is permission for something that is given specifically, either verbally or in writing.
  • extended enterprise - Extended enterprise is the concept that a company does not operate in isolation because its success is dependent upon a network of partner relationships.
  • extension strategy - An extension strategy is a practice used to increase profitability for a given product or service and thus keep it in the maturity phase of the marketing product lifecycle rather than going into decline.
  • factor of safety (FoS) - Factor of safety (FoS) is ability of a system's structural capacity to be viable beyond its expected or actual loads.
  • fail fast - Fail fast is a philosophy that values the development or implementation of many small experimental products, changes or approaches before committing large amounts of time or resources.
  • 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.
  • fake news - Fake news is an inaccurate, sometimes sensationalistic report that is created to gain attention, mislead, deceive or damage a reputation.
  • FASAB (Federal Accounting Standards Advisory Board) - The Federal Accounting Standards Advisory Board (FASAB) is an advisory committee that develops accounting standards for U.
  • Fast Guide to acronyms used in manufacturing - The following glossary or acronyms are those most used in internal communications within the manufacturing industry.
  • FCC (Federal Communications Commission) - The FCC (Federal Communications Commission) is the government body responsible for maintaining laws, censorship and broadcast licensing pertaining to interstate and international communications in the United States.
  • fever chart - A fever chart is a graphical representation showing change of a variable over time.
  • financial analytics - Financial analytics is the creation of ad hoc analysis to answer specific business questions and forecast possible future financial scenarios.
  • financial consolidation - Financial consolidation is the process of combining financial data from several departments or business entities within an organization, usually for reporting purposes.
  • financial controller - A financial controller, also referred to as financial comptroller, is a senior-level executive who usually reports to an organization's chief financial officer (CFO).
  • financial data management - Financial data management (FDM) is a process and policy, usually assisted by specialized software, that allows an enterprise or institution to consolidate its financial information, maintain compliance with accounting rules and laws, and produce detailed financial reports.
  • Financial Industry Regulatory Authority (FINRA) - The Financial Industry Regulatory Authority (FINRA) is an independent regulator securities firms doing business in the United States.
  • financial management system - A financial management system is the methodology and software that an organization uses to oversee and govern its income, expenses, and assets with the objectives of maximizing profits and ensuring sustainability.
  • financial modeling - Financial modeling is the construction of spreadsheet models that illustrate a company's likely financial results in quantitative terms.
  • financial planning and analysis (FP&A) - Financial planning and analysis (FP&A) is the budgeting, forecasting and analytical processes that support an organization's financial health and business strategy.
  • financial reporting - Financial reporting is the process of producing the reports, called statements, that disclose an organization's financial status to management, investors and the U.
  • financial supply chain management - Financial supply chain management (FSCM) is a set of software tools and processes designed to enhance an organization’s product flow, maximizing profitability and minimizing expenses.
  • FinancialForce.com - FinancialForce is a cloud applications company that makes enterprise resource planning (ERP) software for Force.
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    A contingent workforce is a labor pool whose members are hired by an organization on an on-demand basis.

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