Enterprise resource planning (ERP)

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

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.
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.
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.
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.
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 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 the work environment that leaders cultivate to nurture unorthodox 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 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.
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 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.
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 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.
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 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.
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.
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.
lean manufacturing (lean production) - Lean manufacturing is a methodology that focuses on minimizing waste within manufacturing systems while simultaneously maximizing productivity.
Lean Six Sigma - Lean Six Sigma is a data-driven approach to improving efficiency, customer satisfaction and profits.
lean water spider - Lean water spider, or water spider, is a term used in manufacturing that refers to a position in a production environment or warehouse.
LEED (Leadership in Energy and Environmental Design) - Leadership in Energy and Environmental Design, more commonly known as LEED, is an environmentally oriented building certification program run by the U.
letter of intent (LOI) - A letter of intent (LOI) is a written, nonbinding document that outlines an agreement in principle between two or more parties before a legal agreement is finalized.
lights-out management (LOM) - Lights-out management (LOM) is a form of out-of-band management.
limitation of liability clause - A limitation of liability clause is the section in a service-level agreement (SLA) that specifies the amounts and types of damages that each party will be obliged to provide to the other in particular circumstances.
limited liability company (LLC) - A limited liability company (LLC) is a business structure in the United States that provides its owners with limited liability protection while allowing the flexibility of being taxed as a partnership or sole proprietorship.
line card - A line card may be a modular electronic telecommunications switching component on a printed circuit board, or a printed brochure or document that contains the names, descriptions and products that are sold by a third party.
LinkedIn - LinkedIn is a social networking site designed specifically for the business community.
location intelligence (LI) - Location intelligence (LI) is a business analysis tool capability that enables companies to gather geographic- and location-related data to better understand global, regional and local business trends.
logistics - Logistics is the process of planning and executing the efficient transportation and storage of goods from the point of origin to the point of consumption.
logistics management - Logistics management is the governance of supply chain management functions that helps organizations plan, manage and implement processes to move and store goods.
managed IT service - A managed IT service is an information technology (IT) task provided by a third-party contractor and delivered to a customer.
managerial grid model (The Blake and Mouton Managerial Grid model) - The managerial grid model was developed by Robert R.
manufacturing execution system (MES) - A manufacturing execution system (MES) is an information system that connects, monitors and controls complex manufacturing systems and data flows on the factory floor.
market development funds (MDF) - Market development funds (MDF) are a resource that a vendor grants to its indirect sales channel partners to help the channel with sales and marketing programs.
marketing automation - Marketing automation is a type of software that allows companies to effectively target customers with automated marketing messages across channels including email, websites, social media and text messages to generate sales leads.
marketing-qualified lead (MQL) - A marketing-qualified lead (MQL) is a website visitor whose engagement levels indicate they are likely to become a customer.
material requirements planning (MRP) - Material requirements planning (MRP) is a system for calculating the materials and components needed to manufacture a product.
maturity grid (maturity model) - A maturity model is a matrix for evaluating an organization's level of progress towards a goal.
memorandum of understanding (MOU) - A memorandum of understanding (MOU) is a formal agreement that outlines plans for a common line of action between two or more parties.
microsegmentation - Microsegmentation is a security technique that splits a network into definable zones and uses policies to dictate how data and applications within those zones can be accessed and controlled.
Microsoft Intune - Microsoft Intune is a cloud-based unified endpoint management (UEM) tool that aims to help organizations manage the mobile devices employees use to access corporate data and applications, such as email.
Microsoft Operations Framework (MOF) - Microsoft Operations Framework (MOF) is a series of 23 documents that guide IT professionals through the processes of creating, implementing and managing efficient and cost-effective services.
microtrend - A microtrend is a tendency in the direction of some phenomenon that is fairly pervasive within a given sphere of influence and may only last for a few years, or even months.
mission-critical application - A mission-critical application is a software program or suite of related programs that must function continuously for a business or business segment to be successful.
modeling and simulation (M&S) - Modeling and simulation (M&S) is the use of a physical or logical representation of a given system to generate data and help determine decisions or make predictions about the system.
monthly recurring revenue (MRR) - Monthly recurring revenue (MRR) is income a company can reliably anticipate every 30 days and one of the key metrics for channel partner companies.
multilevel marketing (MLM) - Multilevel marketing (MLM) is a business model that involves unsalaried, hierarchical sales teams selling products directly to consumers in conjunction with recruiting additional company sales representatives.
multisourcing (multi-sourcing) - Multisourcing (multi-sourcing) is an approach to outsourcing in which IT operations and technology infrastructure are contracted to a number of vendors, usually in combination with some internally provided elements of information technology.
negative float (negative slack) - Negative float, also known as negative slack, is a common concept in project management that refers to the amount of time that must be saved to complete a project on time.
net price - The net price is the value at which a product or service is sold after all taxes and other costs are added and all discounts subtracted.
Net Promoter Score (NPS) - Net Promoter Score (NPS) is a metric that organizations use for assessing customer loyalty toward their brand, products or services.
NFV MANO (network functions virtualization management and orchestration) - NFV MANO (network functions virtualization management and orchestration), also called MANO, is an architectural framework for managing and orchestrating virtualized network functions (VNFs) and other software components.
nonprofit organization (NPO) - A nonprofit organization (NPO) is one that is not driven by profit but by dedication to a given cause that is the target of all income beyond what it takes to run the organization.
normal distribution - A normal distribution is a type of continuous probability distribution in which most data points cluster toward the middle of the range, while the rest taper off symmetrically toward either extreme.
not for resale (NFR) - Not for resale (NFR) is a designation for products that vendors give to their channel partners for testing and educational purposes with the understanding that the channel partner will not resell those products to the end user.
Nutanix - Nutanix is a private and hybrid cloud software provider.