Browse Definitions :

Enterprise resource planning (ERP)

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

TOT - ZER

  • 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 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 quality improvement 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 principles of Continuous Improvement (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.
  • tragedy of the commons - The tragedy of the commons is a problem that occurs when individuals exploit a shared resource to the extent that demand overwhelms supply and the resource becomes unavailable to some or all.
  • transactional leadership - Transactional leadership is a leadership style where the executive relies on rewards and punishments to achieve optimal job performance from his or her 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, in the context of governance, means being open and honest in all official activities.
  • transportation management system (TMS) - A transportation management system (TMS) is specialized software for planning, executing and optimizing the shipment of goods.
  • treasury management - Treasury management is the administration of a company’s cash flow as well as the creation and governance of policies and procedures that ensure the company manages risk successfully.
  • triple bottom line (TBL) - The triple bottom line (TBL) is an accounting framework that includes social, environmental and financial results as bottom lines.
  • triple constraint - The triple constraint is a model that describes the three most significant restrictions on any project: scope, schedule and cost.
  • TurboTax - TurboTax is tax preparation software for United States and Canadian tax returns.
  • 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-speed IT - Two-speed IT is the concept that strategic planning for an IT department should include a fast track that allows some projects to be implemented quickly.
  • 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.
  • unicorn - A unicorn, in an investment context, is a tech startup that is assessed at a valuation of $1 billion or more.
  • unique selling point (USP) - A unique selling proposition (USP, also seen as unique selling point) is a factor that differentiates a product from its competitors, such as the lowest cost, the highest quality or the first-ever product of its kind.
  • 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.
  • unknowable risk - An unknowable risk is a potential threat to an organization's processes that is not known and cannot be quantified or controlled.
  • 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.
  • user installed application (UIA) - User installed applications (UIA) are programs that are installed on a computer by an end user, instead of by a corporate IT department.
  • 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 mapping - Value stream mapping is a Toyota lean manufacturing visualization tool for documenting all the processes that are required to bring a product to market.
  • value-sensitive design (VSD) - Value-sensitive design (VSD) is a concept that advocates the consideration of human principles and standards when planning technology.
  • VAR agreement (value-added reseller agreement) - A VAR agreement is a legal contract between a manufacturer and a value-added reseller that specifies details of the rights and obligations of both parties.
  • 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 office (VMO) - A vendor management office (VMO) is an internal unit within an enterprise that is charged with evaluating third-party providers of goods and services, supervising day-to-day interactions and managing longer-term relationships.
  • 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.
  • vendor neutral - Vendor neutrality is a business and design approach that seeks to ensure broad compatibility and interchangeability of products and technologies.
  • vendor risk management (VRM) - Vendor risk management (VRM) is a comprehensive plan for identifying and decreasing potential business uncertainties and legal liabilities regarding the hiring of 3rd party vendors for IT products and services.
  • video interview - A video interview is a job interview that takes place remotely and uses video technology as the communication medium.
  • video resume - A video resume is a brief account of a job applicant's professional experience, qualifications and interests, submitted to a prospective employer in video form.
  • viral ad - A viral ad is an advertisement that achieves wide-spread reach because people who view it are inclined to share it among their social networks.
  • viral marketing - Viral marketing is any marketing technique that induces websites or users to pass on a marketing message to other sites or users, creating a potentially exponential growth in the message's visibility and effect.
  • 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 commissioning - Virtual commissioning is the practice of using 3D technology to create a simulation model of a manufacturing plant so that proposed changes and upgrades can be tested before they are implemented to the actual plant.
  • 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.
  • virtual manufacturing - Virtual manufacturing (VM) is the use of computers to model, simulate and optimize the critical operations and entities in a factory plant.
  • 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.
  • Visualforce - Visualforce is a component-based user interface (UI) framework that enables the creation of dynamic, reusable user interfaces.
  • 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.
  • warez - Warez (pronounced as though spelled "wares" or possibly by some pronounced like the city of "Juarez") is a term used by software "pirates" to describe software that has been stripped of its copy-protection and made available on the Internet for downloading.
  • waterfall model - The waterfall model is a linear, sequential approach to the software development life cycle (SDLC) that is popular in software engineering and product development and emphasizes a logical progression of steps.
  • WeWork - WeWork is a company that rents office space to startups, small businesses and large enterprises.
  • 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.
  • white label cloud service - A white label cloud service is a cloud provider that sells customers resources that they can, in turn, offer to their own customers under their own brand.
  • 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.
  • wholesale price - Wholesale price is the price charged for a product as sold in bulk to large trade or distributor groups as opposed to what is charged to consumers.
  • 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.
  • Wipro Technologies (Wipro Limited) - Wipro Technologies, also known as Wipro Limited, is an India-based software and technology services provider that targets the global market.
  • witching hour - Witching hour, in a financial context, is the final hour of daily trading in the stock market between the close of the bond market at 3 p.
  • 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 breakdown structure (WBS) - A work breakdown structure (WBS) is a chart in which the critical work elements, called tasks, of a project are illustrated to portray their relationships to each other and to the project as a whole.
  • work in progress (WIP) - Work in progress (WIP), also called work in process, is inventory that has begun the manufacturing process and is no longer included in raw materials inventory but is not yet a completed product.
  • work-life balance - Work-life balance is the optimal arrangement of an individual’s on-the-job and private time to facilitate health and personal satisfaction without hindering productivity or professional success.
  • 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.
  • xenodochial - Xenodochial is an adjective describing something, such as a person, place, or software application, that is friendly to strangers.
  • zero-based thinking (ZBT) - Zero-based thinking (ZBT) is a decision-making process based on imagining yourself back at the point before particular decisions were made, and free to make those decisions with the knowledge that you have now about their outcome.
  • zero-sum game - A zero-sum game is a situation in which the potential gain for players remains constant.
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