Enterprise resource planning (ERP)

Terms related to business, including definitions about project management and words and phrases about human resources, finance and vertical industries.
  • What is social media marketing (SMM)? - Social media marketing (SMM) is a form of internet marketing that uses social media apps as a marketing tool.
  • What is strategic innovation? - Strategic innovation is an organization's process of reinventing or redesigning its corporate strategy to drive business growth, generate value for the company and its customers, and create competitive advantage.
  • What is succession planning? - Succession planning is the strategic process of identifying and developing internal candidates to fill key organizational roles to ensure business continuity and the availability of effective leadership in the face of role transitions, departures or unforeseen events.
  • What is supply chain risk management (SCRM)? - Supply chain risk management (SCRM) is the coordinated efforts of an organization to help identify, monitor, detect and mitigate threats to supply chain continuity and profitability.
  • What is 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.
  • What is supply chain visibility and why is it important? - Supply chain visibility (SCV) is the ability to track parts, components, raw materials or products as they move from the manufacturer to the final destination.
  • What is systems development life cycle? - 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 all the way through maintenance of the completed application.
  • What is 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.
  • What is the bullwhip effect? - The bullwhip effect is a supply chain phenomenon describing how small fluctuations in demand at the retail level can cause progressively larger fluctuations in demand at the wholesale, distributor, manufacturer and raw material supplier levels.
  • What is the 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.
  • What is the 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, can't continue to increase if other variables remain at a constant.
  • What is the risk-reward ratio? - The risk-reward ratio, also known as a risk-return ratio, is a mathematical calculation investors use to measure the expected gains of a given investment against the risk of loss.
  • What is the Salesforce Service Console? - The Salesforce Service Console is the centralized interface in Salesforce Service Cloud, an application devoted to customer service, support and customer experience.
  • What is the spiral model and how is it used? - 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.
  • What is the triple bottom line (TBL)? - The triple bottom line (TBL) is a sustainability-based accounting framework that includes social, environmental and financial factors as bottom-line categories.
  • What is transactional marketing? - Transactional marketing is a business strategy that focuses on single, point-of-sale transactions.
  • What is transformational leadership? - Transformational leadership is a leadership style that focuses on inspiring and motivating employees to innovate and find new ways to drive the organization's success.
  • What is unobtainium? - Unobtainium is a term used to refer to a material that cannot be accessed.
  • What is value-sensitive design? - Value-sensitive design is a concept that advocates the consideration of human principles and standards when planning technology.
  • What is voice of the customer? A guide to VOC Strategy - Voice of the customer (VOC) is the component of customer experience (CX) that focuses on customer needs, wants, expectations and preferences.
  • Whistleblower Protection Act - The Whistleblower Protection Act of 1989 is a law that protects federal government employees in the United States from retaliatory action for voluntarily disclosing information about dishonest or illegal activities occurring in a government organization.
  • whole-team approach (team-based approach) - The whole-team approach (team-based approach) is a style of project management in which everyone on the project team is held equally responsible for the quality and success of the project.
  • Windows Server Update Services (WSUS) - Windows Server Update Services (WSUS) is a Windows server role that can plan, manage and deploy updates, service packs, patches and hotfixes for Windows servers, client operating systems (OSes) and other Microsoft software.
  • WNS Global Services (WNS Holdings) - WNS Global Services (WNS Holdings Ltd) is a Mumbai-based business process outsourcing (BPO) company that provides services to enterprises worldwide.
  • work in progress (WIP) - Work in progress (WIP) refers to the number of tasks or projects that are currently in the process of being completed.
  • workflow automation - Workflow automation is an approach to making the flow of tasks, documents and information across work-related activities perform independently in accordance with defined business rules.
  • workforce management (WFM) - Workforce management (WFM) is an integrated set of processes that a company uses to optimize the productivity of its employees.
  • Workforce management (WFM) software - Workforce management (WFM) software is an umbrella term for desktop and mobile programs that help a business manage staff scheduling.
  • workforce planning - Workforce planning is the strategy used by employers to anticipate labor needs and deploy workers most effectively, usually with advanced human resources technology.
  • working capital - Working capital is the difference between a business's current assets and current liabilities.
  • XaaS (anything as a service) - XaaS is a collective term that refers to the delivery of anything as a service.