Enterprise resource planning (ERP)

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

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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, group or organization with a vested interest, or stake, in the decision-making and activities of a business, organization or project.
standardization - Standardization is the process of developing, promoting and possibly mandating standards-based and compatible technologies and processes within an 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.
steering committee - A steering committee is a group of high-level advisors who have been appointed to provide an organization or project with direction.
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.
sunsetting - Sunsetting is the intentional phasing out or termination of something, and in business, the term is used often regarding brands, partnerships, agreements, policies, and hardware and software.
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 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, optimize costs and mitigate risks.
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.
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.
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 one of the largest multinational IT service and consulting companies.
Theory of Constraints (TOC) - The Theory of Constraints (TOC) is a philosophy of management and continuous improvement originally developed by Dr.
third party - A third party is an entity that is involved in some way in an interaction that is primarily between two other entities.
tier 1 vendor - A tier 1 vendor is one of the largest and most well known in its field -- often enjoying national or international recognition and acceptance.
tier 2 vendor - A tier 2 vendor is a smaller and less well-known provider as compared to a tier 1 vendor and is often also limited in its geographic coverage as well.
time series chart - A time series chart, also called a times series graph or time series plot, is a data visualization tool that illustrates data points at successive intervals of time.
time to value (TtV) - Time to value (TtV) is a business term that describes the period of time between a request for a specific value and the initial delivery of the value requested.
timeline - A timeline is a visual representation of a chronological sequence of events along a drawn line that helps a viewer understand time relationships.
TIN (Taxpayer Identification Number) - A Taxpayer Identification Number (TIN), in the United States, is a unique nine-digit number for identifying an individual, business or other entity in tax returns and additional documents filed with the Internal Revenue Service (IRS).
tl;dr (TL;DR) - TL;DR is an abbreviation for "too long; didn't read" that is used to indicate that the person posting about an article either didn't read it in its entirety or didn't read it at all.
tooling - Tooling, also known as machine tooling, is the process of acquiring the manufacturing components and machines needed for production.
Top searches of 2008 - What were people searching the WhatIs.
total benefit of ownership (TBO) - Total benefit of ownership is the sum of measurable and intangible returns that a company receives from investing in assets and/or personnel.
Total Quality Management (TQM) - Total Quality Management (TQM) is a management framework based on the belief that an organization can build long-term success by having all its members -- from low-level workers to its highest-ranking executives -- focus on improving quality and, thus, delivering customer satisfaction.
Toyota Way - The Toyota Way is a comprehensive expression of the company's management philosophy, which is based on the two foundational pillars of Continuous Improvement, also known as kaizen, and Respect for People.
traceability - Traceability, in supply chain traceability, is the ability to identify, track and trace elements of a product or substance as it moves along the supply chain from raw goods to finished products.
transactional leadership - Transactional leadership, also known as managerial leadership, is a leadership style where leaders rely on rewards and punishments to achieve optimal job performance from their subordinates.
transactional marketing - Transactional marketing is a business strategy that focuses on single, "point of sale" transactions.
transfer learning - Transfer learning is the application of knowledge gained from completing one task to help solve a different, but related, problem.
transformational leadership - Transformational leadership is a management philosophy that encourages and inspires employees to innovate and develop new ways to grow and improve the path to a company's future success.
transparency - Transparency is the quality of being easily seen through, while transparency in a business or governance context refers to being open and honest.
transportation management system (TMS) - A transportation management system (TMS) is specialized software for planning, executing and optimizing the shipment of goods.
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.
triple constraint - The triple constraint is a model that describes the three most significant restrictions on any project: scope, schedule and cost.
turnkey solution provider - A turnkey solution provider is a solution provider that offers limited consultation and one or more established product packages that allow only minimal configuration.
two pizza rule - The two pizza rule is a guideline for limiting the number of attendees at a meeting.
Unfreeze, Change, Refreeze (Kurt Lewin Change Management Model) - Unfreeze, Change, Refreeze or Kurt Lewin's Change Management Model is a model to understand and manage organizational change.
unique selling point (USP) - A unique selling point (USP), also called a unique selling proposition, is a marketing statement that differentiates a product or brand from its competitors.
universal basic income (UBI) - Universal basic income (UBI) is a model for providing all citizens of a country or other geographic area with a given sum of money, regardless of their income, resources or employment status.
unobtainium - Unobtainium is a term used to refer to a material that cannot be accessed.
upcharge - An upcharge is an additional fee that is added to a bill after a contract has already been negotiated.
validated learning - Validated learning is an approach to demonstrating progress against business goals when traditional key performance indicators (KPIs) are not very useful.
value driver - A value driver is an activity or capability that adds worth to a product, service or brand.
value innovation - Value innovation is the implementation of upgrades or new technologies designed to help a company differentiate its products or services while lowering costs.
value proposition - A value proposition is a statement that clearly identifies the benefits a company's products and services will deliver to its customers.
value stream management - Value stream management is an emerging business process intended to gauge the flow of value into business resources and activities, as well as the flow of value back into the business.
value stream mapping - Value stream mapping is a lean manufacturing tool that visualizes every repeatable step required to deliver a product or service to the customer.
value-sensitive design (VSD) - Value-sensitive design (VSD) is a concept that advocates the consideration of human principles and standards when planning technology.
vCIO (virtual CIO) - A vCIO, or virtual CIO, is a contractor or company that serves as an organization's chief information officer.
vendor - A vendor is an individual or company that sells goods or services to somone else in the economic production chain.
vendor management system (VMS) - A vendor management system (VMS) is an enterprise software platform that allows companies to control the process of procuring and managing a flexible workforce, including temporary employees, statement-of-work (SOW) employees, and freelance or contract employees.
video interview - A video interview is a job interview that takes place remotely and uses video technology as the communication medium.
virtual agent - A virtual agent (sometimes called an intelligent virtual agent, virtual rep or chatbot) is a software program that uses scripted rules and, increasingly, artificial intelligence applications to provide automated service or guidance to humans.
virtual desktop - A virtual desktop is a computer operating system that does not run directly on the endpoint hardware from which a user accesses it.
vision statement - A vision statement is an organization's declaration of its mid-term and long-term goals, stating what they want to become in the future.
VMware Partner Network - The VMware Partner Network is a global channel partner program with benefits and support to provide VMware's virtualization and cloud technology.
voice of the customer (VOC) - Voice of the customer (VOC) is the component of customer experience that focuses on customer needs, wants, expectations and preferences.
voluntary severance package - A voluntary severance package is a financial and benefits-based incentive offered to motivate employees to leave a company of their own accord.
VUCA (volatility, uncertainty, complexity and ambiguity) - VUCA is an acronym that stands for volatility, uncertainty, complexity and ambiguity -- qualities that make a situation or condition difficult to analyze, respond to or plan for.
warehouse management system (WMS) - A warehouse management system (WMS) consists of software and processes that allow organizations to control and administer warehouse operations from the time goods or materials enter a warehouse until they move out.
waterfall model - The waterfall model is a linear, sequential approach to the software development lifecycle (SDLC) that is popular in software engineering and product development.
What is a private cloud? - Private cloud is a type of cloud computing that delivers similar advantages to public cloud, including scalability and self-service, but through a proprietary architecture.
What is BCDR? Business continuity and disaster recovery guide - Business continuity (BC) and disaster recovery (DR) are closely related practices that support an organization's ability to remain operational after an adverse event.
What is customer experience management (CEM or CXM)? - Building brand loyalty among customers involves a customer-centric strategy and measuring feedback through voice of the customer data to improve customer experiences.
What is digital transformation? - Digital transformation is the incorporation of computer-based technologies into an organization's products, processes and strategies.
What is enterprise content management? Guide to ECM - Enterprise content management (ECM) is a set of defined processes, strategies and tools that allows a business to effectively obtain, organize, store and deliver critical information to its employees, business stakeholders and customers.
What is PaaS? Platform as a service definition and guide - Platform as a service (PaaS) is a cloud computing model where a third-party provider delivers hardware and software tools to users over the internet.
What is predictive analytics? An enterprise guide - Predictive analytics is a form of advanced analytics that uses current and historical data to forecast activity, behavior and trends.
What is risk appetite? - Risk appetite is the amount of risk an organization is willing to take in pursuit of objectives it deems have value.
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.

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