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Enterprise resource planning (ERP)

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

IT - MON

  • IT aftermarket (tech secondary market) - The IT aftermarket(also called the tech secondary market) is an industry segment of tech resellers and active consumers that are buying and selling IT equipment outside of the channel endorsed by manufacturers.
  • IT asset - An IT asset is any company-owned information, system or hardware that is used in the course of business activities.
  • IT asset lifecycle - The IT asset lifecycle is the stages that an organization’s information technology asset goes through during the time span of its ownership.
  • IT asset management (ITAM) - IT asset management (information technology asset management, or 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 blueprint - An IT blueprint, like an architectural blueprint, is a planning tool or document an information technology organization establishes in order to guide its priorities, projects, budgets, staffing and other IT strategy-related initiatives.
  • IT budget (information technology budget) - IT budget encompasses the money spent on information technology systems and services.
  • IT chargeback / showback - IT chargeback is an accounting strategy that applies the costs of IT services, hardware or software to the business unit in which they are used.
  • 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 continuity (information technology continuity) - IT continuity (information technology continuity) is the holistic management of technology systems toward the guarantee that essential business operations will proceed in the event of a major disruption.
  • 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 is the relationship of different types of costs within a larger IT budget.
  • IT director (information technology director) - An IT director (information technology director) is an employee in charge of technology within an organization.
  • IT elasticity - IT elasticity is the ability to adapt an IT infrastructure to seamless changes without hindering or jeopardizing stability, performance, security, governance or compliance protocols.
  • IT financial management - IT financial management is the oversight of expenditures required to deliver IT products and services.
  • IT incident management - IT incident management is an area of IT service management (ITSM) wherein the IT team returns a service to normal as quickly as possible after a disruption, in a way that aims to create as little negative impact on the business as possible.
  • 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 leadership (information technology leadership) - IT leadership (information technology leadership) refers to the senior management in an organization responsible for driving business strategy via IT infrastructure and applications.
  • IT management - IT management is the process of overseeing all matters related to information technology operations and resources within an IT organization.
  • IT MOOSE management (maintain and operate the organization, systems and equipment) - IT MOOSEmanagement is a term invented by Forrester Research for talking about the non-discretionary expenses that are required to keep an IT department running.
  • IT organization (information technology organization) - An IT organization (information technology organization) is the department within an organization charged with establishing, monitoring and maintaining information technology systems and services, and with strategic planning around current and future IT initiatives.
  • IT outsourcing strategy - An IT outsourcing strategy is a plan derived from assessing which IT functions are better performed by an IT outsourcing service provider than by an organization's internal IT department.
  • IT prioritization - IT prioritization is the process of initiating IT projects and procedures based on both the immediate and long-term needs of an organization.
  • IT procurement - IT procurement is the series of activities and procedures necessary to acquire information technology products or services.
  • IT productivity - IT productivity is a reference to the relationship between an organization's technology investments and its corresponding efficiency gains, or return on investment.
  • IT service catalog - An IT service catalog is a list of technology resources and offerings available from the IT service provider within an organization.
  • IT showback - An IT showback system tracks the data center utilization rates of an organization’s business units or end users.
  • IT skills gap (information technology skills gap) - In human resource management, an information technology (IT) skills gap is a mismatch between the capabilities an employer needs to meet business objectives and what the organization's employees know and can do.
  • IT solution - An information technology (IT) solution is a set of related software programs and/or services that are sold as a single package.
  • IT strategic plan (information technology strategic plan) - An IT strategic plan outlines a company's technology-enabled business management processes that it uses to guide operations and prioritize business goals.
  • IT strategist (information technology strategist) - An IT strategist (information technology strategist) is someone in an organization who is given the responsibility and authority to establish initiatives that affect the organization's IT and business strategy.
  • 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.
  • IT transformation - IT transformation is a complete reassessment and overhaul of an organization's information technology (IT) systems in order to improve the efficiency and delivery in a digital economy.
  • item-level RFID (item-level radio frequency identification) - Item-level RFID involves individual unit tagging, as opposed to tagging cartons or pallets of items.
  • Jargon File (New Hacker's Dictionary) - The Jargon File is a compilation of computer-related slang that was first developed in 1975 by Raphael Finkel at Stanford University from sources including the Stanford and MIT AI Labs, Carnegie Mellon University and Worcester Polytechnic Institute.
  • JDA Software - JDA Software is a software and consultancy company that specializes in selling supply chain management products and services to businesses.
  • job hopper - A job hopper is someone who works briefly in one position after another rather than staying at any one job or organization long-term.
  • just-in-case manufacturing (JIC manufacturing) - Just-in-case (JIC) manufacturing is the traditional model of production, in which products are created in advance and in excess of demand.
  • just-in-time manufacturing (JIT manufacturing) - Just-in-time (JIT) manufacturing is designed to avoid the waste associated with overproduction, waiting and excess inventory, three of the seven waste categories defined in the Toyota Production System (known in North America as the lean production model).
  • 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.
  • karōshi - Karōshi is a Japanese term that translates to "death from overwork.
  • keiretsu - In corporate culture, keiretsu refers to a uniquely Japanese form of corporate organization.
  • keiretsu - Keiretsu is a business network composed of manufacturers, supply chain partners, distributors and financiers who remain financially independent but work closely together to ensure each other's success.
  • key performance indicators (KPIs) - Key performance indicators (KPIs) are business metrics used by corporate executives and other managers to track and analyze factors deemed crucial to the success of an organization.
  • 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 by which an enterprise gathers, organizes, shares and analyzes its knowledge in a way that is easily accessible to employees.
  • knowledge process outsourcing (KPO) - Knowledge process outsourcing (KPO) is the allocation of relatively high-level tasks to an outside organization or a different group within the same organization.
  • Kronos Inc. - Kronos Inc. is a provider of workforce management software and associated services headquartered in Chelmsford, Mass.
  • labor arbitrage - Labor arbitrage is the practice of searching for and then using the lowest-cost workforce to produce products or goods.
  • labor automation - Labor automation refers to the use of technology to perform specific tasks or jobs traditionally done by humans.
  • Large Account Reseller (LAR) - A large account reseller (LAR) is a label used by Microsoft to identify its largest value-added resellers (VARs).
  • 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.
  • last mile of finance (LMOF) - The last mile of finance is composed of the management processes that finance executives perform after the monthly, quarterly or annual close to prepare for financial reporting and disclosure.
  • law of diminishing returns - The law of diminishing returns is an economic principle that states that as investment in a single goal increases, while all other variables remain constant, the return on investment will eventually decline.
  • 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.
  • lead generator - A lead generator is any marketing-related activity intended to publicize the availability of a vendor's product or service.
  • lead scoring - In the B2B industry, lead scoring is a methodology used by sales and marketing departments to determine the worthiness of leads, or potential customers, by attaching values to them based on their behavior relating to their interest in products or services.
  • leadership - Leadership is the ability of an individual or a group of individuals to influence and guide followers or other members of an organization.
  • leadership skills - Leadership skills are the strengths and abilities individuals demonstrate that help the oversee processes, guide initiatives and steer their employees toward the achievement of goals.
  • leadership traits - Leadership traits are the personal qualities that shape effective leaders.
  • leaky bucket - The leaky bucket is an analogy for describing how inputs and outputs work in a wide variety of business and technology contexts.
  • 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 Six Sigma - Lean Six Sigma is a data-driven approach to improving efficiency, customer satisfaction and profits.
  • lean startup - Lean startup is an approach to building new businesses based on the belief that entrepreneurs must investigate, experiment, test and iterate as they develop products.
  • LEED (Leadership in Energy and Environmental Design) - LEED (Leadership in Energy and Environmental Design) is an ecology-oriented building certification program run under the auspices of the U.
  • legal analytics - Legal analytics is the application of data analysis methods and technologies within the field of law to improve efficiency, gain insight and realize greater value from available data.
  • letter of intent - A letter of intent (LOI) is a document outlining the general plans of an agreement between two or more parties before a legal agreement is finalized.
  • life-cycle cost analysis (LCCA) - Life-cycle cost analysis (LCCA) is the study of all the costs associated with processes, materials and goods from acquisition to ownership and maintenance, through to and including disposal.
  • lifestyle business - A lifestyle business is one that is geared toward supporting the owner’s income and personal requirements rather than maximizing revenue.
  • lifestyle center - A lifestyle center is a shopping center, or mixed-use commercial development that combines retail with other services, such as medical services, home rental units, movie theaters and other leisure or other activities.
  • lights on - In a line-item budget, lights on is a descriptor for expenditures that are absolutely necessary for maintaining a company's critical business operations.
  • 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 hybrid unincorporated business structure that combines the pass-through tax model of partnerships and sole proprietorships with the protection of individual assets provided by the C corporation.
  • line card - A line card is: 1) A printed brochure that lists the names, descriptions and the manufacturers of products sold by a third party, like a distributor, sales representative or value-added reseller (VAR).
  • LinkedIn - LinkedIn is a social networking site for the business community.
  • liquid logistics - Liquid logistics is a specialized material-handling and transportation discipline that is used when moving liquid products through a supply chain.
  • liquidity event - Liquidity events are considered exit strategies in which owners and investors terminate some endeavor to cash in shares and other illiquid investments.
  • list price - The list price is the stated value for which something is offered for sale through a particular channel such as a showroom, a retail store, a catalog or a retail, wholesale or distributor website.
  • 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.
  • loyalty punch card - A loyalty punch card is a token that lets a customer earn free merchandise or discounts after a certain number of purchases.
  • M2M economy (machine-to-machine economy) - A machine-to-machine (M2M) economy is one in which machines are autonomous market participants that have their own bank accounts.
  • macromarketing - Macromarketing is the influence that marketing policies and strategies have on the economy and society as a whole.
  • maker movement - The maker movement is a cultural trend that places value on an individual's ability to be a creator of things as well as a consumer of things.
  • managed IT service - A managed IT service is an information technology (IT) task provided by a third-party contractor and delivered to a customer.
  • managed network security services - Managed network security services are third-party service providers, solution providers or value-added resellers that can be hired to outsource tasks or processes related to network security.
  • managed print services (MPS) - Managed print services (MPS) is the provision and oversight of business document output needs by an external service provider.
  • management by objective (MBO) - Management by objective (MBO) is a model in which employees and their managers collaboratively develop, define and explicitly agree to objectives.
  • managerial grid model (The Blake and Mouton Managerial Grid model) - The managerial grid model was developed by Robert R.
  • manufacturer's suggested retail price (MSRP) - Manufacturer’s suggested retail price (MSRP) is the price that the maker of a product recommends for it in customer-facing retail stores.
  • Manufacturing resource planning (MRP II) - Manufacturing resource planning (MRP II) is an integrated method of operational and financial planning for manufacturing companies.
  • margin of safety (MoS) - In statistics, the margin of error is a measure of the random variation in a survey's results.
  • market culture - A market culture is a type of corporate culture that emphasizes competitiveness between the organization and its market competitors and between employees.
  • 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.
  • market distortion - Market distortion is the lack of free and open competition in a market, whether through intentional actions or prevailing market conditions.
  • market intelligence manager - A market intelligence manager is a corporate employee who studies a given market, makes recommendations as to actions to capitalize on opportunities and helps direct strategy to assist the company in reaching its revenue targets.
  • market leadership - Market leadership is when an individual or company owns the largest market share or highest profitability margin in a given market for goods and services.
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  • ISO 31000 Risk Management

    The ISO 31000 Risk Management framework is an international standard that provides businesses with guidelines and principles for ...

  • pure risk

    Pure risk refers to risks that are beyond human control and result in a loss or no loss with no possibility of financial gain.

  • risk reporting

    Risk reporting is a method of identifying risks tied to or potentially impacting an organization's business processes.

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  • What is risk mitigation?

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • fault-tolerant

    Fault-tolerant technology is a capability of a computer system, electronic system or network to deliver uninterrupted service, ...

  • synchronous replication

    Synchronous replication is the process of copying data over a storage area network, local area network or wide area network so ...

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