Enterprise resource planning (ERP)

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

control loop - A control loop is a system made up of all the hardware components and software control functions needed for the measurement and adjustment of a variable that controls an individual process.
control system - A control system is a set of mechanical or electronic devices that regulates other devices or systems by way of control loops.
coopetition (co-opetition) - Coopetition is a business strategy that uses insights gained from game theory to understand when it is better for competitors to work together.
COPE (corporate-owned, personally enabled) - COPE (corporate-owned personally-enabled) is a business model in which an organization provides its employees with mobile computing devices and allows the employees to use them as if they were personally-owned notebook computers, tablets or smartphones.
Core competencies: What they are and how they lead to success - For any organization, its core competencies refer to the capabilities, knowledge, skills and resources that constitute its 'defining strengths.
core HR (core human resources) - Core HR (core human resources) is an umbrella term that refers to the basic tasks and functions of an HR department as it manages the employee lifecycle.
corporate culture - Corporate culture is the collection of values, beliefs, ethics and attitudes that characterize an organization and guide its practices.
corporate culture model - A corporate culture model is the organizing principle behind the values, beliefs and attitudes that characterize a company and guide its practices.
corporate division - A corporate division, also known as a business division, is a discrete part of a company that may operate under the same name and legal responsibility or as a separate corporate and legal entity under another business name.
COSO cube - The COSO cube is a diagram that shows the relationship among all parts of an internal control system.
cost containment - Cost containment is a process of judiciously reducing costs in a business or limiting them to a constant level.
cost management - Cost management is the process of planning and controlling the budget of a business.
cost of goods sold (COGS) - Cost of goods sold (COGS) is the total of the costs directly attributable to producing things that can be sold.
cost price - Cost price is the total amount of money that it costs a manufacturer to produce a given product or provide a given service.
crisis management - Crisis management is the application of strategies designed to help an organization deal with a sudden and significant negative event, while maintaining business continuity.
cross-docking - Cross-docking is the practice of unloading goods from inbound delivery vehicles and loading them directly onto outbound vehicles.
CSO (Chief Security Officer) - A Chief Security Officer (CSO) is a C-suite executive responsible for a company's physical and digital security.
culture of failure (blameless culture) - A culture of failure is a set of shared values, goals and practices that encourages learning through experimentation.
currency - Currency is anything that is generally accepted to have value as a medium of exchange so that it can be traded for goods and services.
customer journey map - A customer journey map is a visual representation of the stages a customer goes through when interacting with a company.
customer lifecycle - In customer relationship management (CRM), customer lifecycle is a term used to describe the progression of steps a customer goes through when considering, purchasing, using and maintaining loyalty to a product or service.
customer satisfaction (CSAT) - Customer satisfaction (CSAT) is a measure of the degree to which a product or service meets customer expectations.
CVO (Chief Visionary Officer) - The Chief Visionary Officer (CVO) is a newer title where the holder is expected to have a broad and comprehensive knowledge of all matters related to the business of the organization, as well as the vision required to steer its course into the future.
CYOD (choose your own device) - CYOD (choose your own device) is an employee provisioning model in which an organization allows people to select the mobile devices they would like, usually from a limited number of options.
daily stand-up meeting - A daily stand-up meeting is a short organizational meeting that is held each day.
data broker (information broker) - A data broker, also called an information broker or information reseller, is a business that collects large amounts of personal information about consumers.
data historian - A data historian is a software program that records the data created by processes running in a computer system.
data modeling - Data modeling is the process of creating a simplified visual diagram of a software system and the data elements it contains, using text and symbols to represent the data and how it flows.
data point - A data point is a discrete unit of information.
days inventory outstanding (DIO) - Days inventory outstanding (DOI) is the average number of days it takes for inventory to be sold.
deal registration - Deal registration is a common feature of vendors' channel partner programs in which a channel partner, such as a value-added reseller (VAR), informs the vendor about a sales lead.
decision tree - A decision tree is a graph that uses a branching method to illustrate every possible output for a specific input.
Dell Technologies Partner Program - The Dell Technologies Partner Program is an international channel partner program that provides partners with business development, sales and marketing resources.
demand planning - Demand planning is the process of forecasting the demand for a product or service so it can be produced and delivered more efficiently and to the satisfaction of customers.
demand signal repository (DSR) - A demand signal repository (DSR) is a database that aggregates sales and demand data at the merchant's point of sale (POS).
demand-driven manufacturing (DDM) - Demand-driven manufacturing (DDM) is an approach to manufacturing where production is based on actual orders rather than forecasts.
descriptive modeling - Descriptive modeling is a mathematical process that describes real-world events and the relationships between factors responsible for them.
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 - A digital core is the technology platforms and applications that enable 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 enterprise - A digital enterprise is an organization that uses technology as a competitive advantage in its internal and external operations.
digital leadership - Digital leadership is the strategic use of a company's digital assets and emerging technologies to achieve business goals.
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 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, sometimes called a digital media strategy, is a plan for maximizing the business benefits of data assets and technology-focused initiatives.
digital supply chain - A digital supply chain is a supply chain whose foundation is built on web-enabled capabilities.
digital thread - A digital thread is a data-driven 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 real-world entity or process.
disambiguation - Disambiguation is the process of determining a word's meaning -- or sense -- within its specific context.
disaster recovery (DR) test - A disaster recovery test is the examination of each step in a disaster recovery plan to ensure that an organization can recover data, restore business critical applications and continue operations after an interruption of services.
disaster recovery plan (DRP) - A disaster recovery plan (DRP) is a documented, structured approach that describes how an organization can quickly resume operations 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.
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.
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.
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.
dual sourcing - Dual sourcing is the supply chain management practice of using two suppliers for a given component, raw material, product or service.
e-business (electronic business) - E-business (electronic business) is the conduct of business processes on the internet.
e-recruitment (e-recruiting) - E-recruitment is an umbrella term for any electronic-based recruiting and recruitment management activity.
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.
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.
emotional intelligence (EI) - Emotional intelligence (EI) is the area of cognitive ability that facilitates interpersonal behavior.
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.
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.
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.
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.
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.
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 - 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.