Enterprise resource planning (ERP)

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

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 comprises a group of high-ranking IT professionals who provide guidance and strategic direction to an organization or organizational segment.
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 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.
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 a systematic approach to evaluating and partnering with vendors that supply goods, materials and services to an organization, determining each supplier's contribution to success, and developing strategies to improve their performance.
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 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 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.
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 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, or targeted advertising, is a method of displaying advertisements to a specific group of people based on their demographics, behavior, interests, or other criteria.
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).
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.
transactional marketing - Transactional marketing is a business strategy that focuses on single, point-of-sale transactions.
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.
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.
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 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.
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 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 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 (AI) 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.
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 (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 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 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.
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, patches and hotfixes for Windows servers, client operating systems 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 analytics - Workforce analytics is a combination of software and methodology that applies statistical models to worker-related data, allowing enterprise leaders to optimize human resource management (HRM).
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 optimization (WFO) software - Workforce optimization (WFO) software is a program suite that combines recording, quality management (QM) and other call center technologies into one console with the purpose of optimizing call center performance.
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.