Enterprise resource planning (ERP)

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

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 planning (SCP) - Supply chain planning (SCP) is the process of anticipating the demand for products and planning their materials and components, production, marketing, distribution and sale.
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.
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 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.
SWIFT FIN message - SWIFT FIN is a message type (MT) that transmits financial information from one financial institution to another.
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 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, or targeted advertising, is a method of displaying advertisements to a specific group of people based on their demographics, behavior, interests, or other criteria.
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.
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).
Top searches of 2008 - What were people searching the WhatIs.
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.
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 constraint - The triple constraint is a model that describes the three most significant restrictions on any project: scope, schedule and cost.
two pizza rule - The two pizza rule is a guideline for limiting the number of attendees at a meeting.
two-tier ERP - Two-tier ERP is a technology strategy taken by large, multinational enterprises that uses tier 1 ERP for financials and other core common processes at the corporate level and tier 2 ERP for divisions, subsidiaries and smaller locations of the company to address specific needs.
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.
upcharge - An upcharge is an additional fee that is added to a bill after a contract has already been negotiated.
value chain - A value chain is a concept describing the full chain of a business's activities in creating a product or service -- from initial receipt of materials through its delivery to market.
value driver - A value driver is an activity or capability that adds worth to a product, service or brand.
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.
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 helps companies control the process of procuring and managing a flexible workforce.
vendor-managed inventory (VMI) - Vendor-managed inventory (VMI) is an inventory management technique in which the supplier of goods, usually the manufacturer, is responsible for optimizing the inventory a distributor holds.
video interview - A video interview is a job interview that takes place remotely and uses video technology as the communication medium.
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.
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.
What are leadership skills? - Leadership skills are the strengths and abilities individuals demonstrate that help to oversee processes, guide initiatives and steer their employees toward the achievement of goals.
What are 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.
What are virtual agents and how are they being used? - A virtual agent -- sometimes called an intelligent virtual agent (IVA) -- is a software program or cloud service that uses artificial intelligence (AI) technologies, such as machine learning (ML) and natural language processing (NLP) to provide automated services or guidance to humans.
What is 3PL (third-party logistics)? - A 3PL (third-party logistics) provider offers outsourced logistics services, which encompass anything that involves management of one or more facets of procurement and fulfillment activities.
What is a bill of materials (BOM)? - A bill of materials (BOM) is a comprehensive inventory of the raw materials, assemblies, subassemblies, parts and components, as well as the quantities of each, needed to manufacture a product.
What is a business continuity plan audit and how do you create one? - A business continuity plan audit is a formalized method for evaluating how business continuity processes are being managed.
What is a CEO (chief executive officer)? - A chief executive officer (CEO) is the highest-ranking position in an organization and responsible for implementing plans and policies related to a company's financial strength, operational efficiency and strategic management.
What is a chief experience officer (CXO)? - A chief experience officer (CXO) is an executive in the C-suite who ensures positive interactions with an organization's customers.
What is a cloud service provider? - A cloud service provider, or CSP, is a company that offers components of cloud computing -- typically in an as-a-service model like infrastructure as a service (IaaS), software as a service (SaaS) or platform as a service (PaaS).
What is a customer account record? - A customer account record is the basic unit of information about a customer that resides in a CRM, or customer relationship management system.
What is a customer health score? - A customer health score is a value that indicates the long-term prospect for a customer to drop off or, conversely, to become a high-value, repeat customer through renewal or Cross-selling or up-selling strategies.
What is a customer journey map? - A customer journey map is a visual representation of the stages a customer goes through when interacting with a company.
What is a CVO (chief visionary officer)? - The CVO (chief visionary officer) is a newer C-suite 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.
What is a key performance indicator (KPI)? Strategy and guide - Key performance indicators (KPIs) are quantifiable business metrics that corporate executives, managers and other stakeholders use to track and analyze factors deemed crucial to meeting the organization's stated objectives.
What is a paperless office? - The paperless office is an umbrella term for business practices that improve the workplace by reducing reliance on paper.
What is a PMO (project management office)? - A project management office (PMO) is a group, agency or department that defines and maintains the standards of project management for a company.
What is a private cloud? Definition and examples - Private cloud is a type of cloud computing that delivers advantages similar to public cloud, including scalability and self-service, but through a proprietary architecture.
What is a product owner? - A product owner is a role on a Scrum team that is responsible for the project's outcome.
What is a sales funnel? Everything you need to know - A sales funnel, also called a 'purchase funnel,' is the visual representation of the customer journey, depicting the sales process from awareness to action.
What is a semantic network? - A semantic network is a knowledge structure that depicts how concepts are related to one another and how they interconnect.
What is a smart contract? - A smart contract is a self-executing computer program that automatically executes the terms of a contract without the involvement of third parties.
What is a startup company? - A startup company is a newly formed business with particular momentum behind it based on perceived demand for its product or service.
What is a voice user interface (VUI)? - A voice user interface (VUI) is a type of interface that relies on speech recognition technology to enable users to interact with an application or device through voice commands.
What is a Waterfall model? Definition and guide - 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 an IT service catalog? - An IT service catalog is a list of information technology resources and offerings available from the IT service provider within an organization.
What is an organizational goal? - Organizational goals are strategic objectives that a company's management establishes to outline expected outcomes and guide employees' efforts toward the achievement of those outcomes.
What is an outbound call? - An outbound call is one initiated by a contact center agent to prospective customers and focuses on sales, lead generation, telemarketing and fundraising.
What is B2B2C (business-to-business-to-consumer)? - B2B2C (business-to-business-to-consumer) extends the B2B (business-to-business) model to include e-commerce for consumers.
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 Blue Yonder (formerly JDA Software)? - Blue Yonder, formerly JDA Software, is a software and consultancy company that specializes in selling supply chain management products and services to businesses.
What is brand recognition? - Brand recognition is the extent to which a consumer can correctly identify a particular product or service just by viewing the product or service's logo, tagline, packaging or advertising campaign.
What is business process modeling? - Business process modeling, often called process modeling, is the graphical representation or illustration of an organization's business processes.
What is business sustainability? - Business sustainability, also known as corporate sustainability, is the management of environmental, social and financial concerns by a company to ensure responsible, ethical and ongoing success.
What is C-level (C-suite)? - C-level, also called the C-suite, is a term used to describe high-ranking executive titles in an organization.
What is CAD (computer-aided design)? - CAD (computer-aided design) is the use of computer-based software to aid in design processes by creating simulations of real-world objects.
What is cloud computing? Types, examples and benefits - Cloud computing is a general term for the on-demand delivery of hosted computing and IT services over the internet with pay-as-you-go pricing.
What is corporate social responsibility (CSR)? - Corporate social responsibility (CSR) is a strategy undertaken by companies to not just grow profits, but also to take an active and positive social role in the world around them.
What is CPQ software (configure price quote software)? - CPQ (configure, price, quote) is programming that helps sales representatives and self-service customers quickly generate accurate quotes for configurable products and services.
What is customer experience (CX) and why is it important? - Customer experience (CX) is the sum total of customers' perceptions and feelings resulting from interactions with a brand's products and services.
What is customer experience management (CXM)? Ultimate guide - 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 customer segmentation? - Customer segmentation is the practice of dividing a customer base into groups of individuals that have similar characteristics relevant to marketing, such as age, gender, interests and spending habits.
What is Data as a Service (DaaS)? - Data as a Service (DaaS) is an information provision and distribution model in which data files (including text, images, sounds, and videos) are made available to customers over a network, typically the Internet.
What is data monetization? - Data monetization is the process of measuring the economic benefit of corporate data.
What is days sales outstanding (DSO)? - Days sales outstanding (DSO) measures the average time it takes a business to collect payments after a sale.
What is demand shaping? - Demand shaping is an operational supply chain management (SCM) strategy where a company uses tactics such as price incentives, cost modifications and product substitutions to entice customers to purchase specific items.
What is DevOps 2.0? - DevOps 2.0 is the extension of DevOps practices through the entire organization, beyond development and IT ops.
What is digital labor? - Digital labor is work that's performed by robotic process automation (RPA) systems and interactive applications, including chatbots and digital assistants.
What is digital transformation? Everything you need to know - Digital transformation is the incorporation of computer-based technologies into an organization's products, processes and strategies.
What is 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.