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.

KIS - MYS

  • KISS Principle (Keep It Simple, Stupid) - The KISS Principle (Keep It Simple, Stupid) is self-descriptive and recognizes two things: 1.
  • Kitemark - Kitemark is a registered trademark owned and awarded by the British Standards Institution for products that have demonstrated standards for quality and safety.
  • knowledge management (KM) - Knowledge management is a concept in which an enterprise consciously and comprehensively gathers, organizes, shares and analyzes its knowledge in terms of resources, documents, and people skills.
  • 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 making use of the least costly labor for producing 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.
  • LBO (leveraged buyout) - An LBO or leveraged buyout is the purchase of a company or single asset using a large amount of borrowed money, supplemented with some equity from the acquirer.
  • 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 running 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 the ability for a system administrator to monitor and manage servers by remote control.
  • 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.
  • long tail - The long tail is a frequency distribution pattern in which occurences are most densely clustered close to the Y-axis and the distribution curve tapers along the X-axis.
  • longest delay in queue (LDQ) - Longest delay in queue (LDQ) is the longest time period that a customer in a queue waits before either connecting with an agent or hanging up.
  • 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.
  • Mahindra Satyam - Mahindra Satyam, formerly Satyam Computer Services, is a software services company owned by Tech Mahindra, part of India’s Mahindra Group.
  • 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.
  • makerspace - A makerspace is a community center that provides technology, manufacturing equipment and educational opportunities to the public.
  • 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.
  • marketecture (or marchitecture) - A marketecture (or marchitecture) is a high-level representation of software or hardware architecture designed with marketing requirements as a primary consideration.
  • marketing information system (MkIS) - A marketing information system (MkIS) is a set of procedures and tools for the continuous gathering of information that might affect the promotion and selling of a product or service.
  • marketing research - Market research is the study of a given market by a business competing in it or looking to compete in it.
  • marketing-qualified lead (MQL) - A marketing-qualified lead (MQL) is a website visitor whose engagement levels indicate that he is likely to become a customer.
  • mass customization - Mass customization is the use of computer aided manufacturing to enable custom individualized output for the production of goods and services.
  • mass notification system (MNS) - A mass notification system is a platform that sends one-way messages to inform employees and the public of an emergency.
  • maturity grid (maturity model) - A maturity grid is an assessment tool for evaluating an organization's level of progress towards a goal.
  • maximum tolerable period of disruption (MTPOD) - Maximum tolerable period of disruption (MTPOD) is the time following a disaster after which an organization’s viability will be irreversibly impacted if production isn't resumed.
  • memorandum of understanding (MOU or MoU) - A memorandum of understanding (MOU or MoU) is a formal agreement between two or more parties.
  • mergers and acquisitions (M&A) - Mergers and acquisitions (M&A) is the area of corporate finances, management and strategy dealing with purchasing and/or joining with other companies.
  • metacoin platform - Metacoin platform is the information technology infrastructure that enables digital currency and digital asset transactions.
  • metainformation - Metainformation is information about information.
  • micro apartment (micro-apartment) - A micro apartment is a small, self-contained, single-occupancy apartment, typically located in an urban area.
  • microcredit - Microcredit is a variation on traditional credit service that involves providing small loans to people who would otherwise be unable to secure credit, typically because of poverty.
  • microfinance - Microfinance is the provision of savings accounts, loans, insurance, money transfers and other banking services to customers that lack access to traditional financial services, usually because of poverty.
  • micropayment - A micropayment is an e-commerce transaction involving a very small sum of money in exchange for something made available online, such as an application download, a service or Web-based content.
  • microsegmentation - Microsegmentation, also known as security segmentation, is a process used by network security professionals to break a network into smaller pieces in order to make it easier to keep the overall system secure.
  • Microsoft Certified Educator (MCE) - Microsoft Certified Educator (MCE) is a credential to certify that an educator is literate in global technology and can provide students with an education that combines technology and learning in the classroom.
  • Microsoft Intune - Microsoft Intune is a cloud-based enterprise mobility management 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.
  • Microsoft TechEd - TechEd is an annual Microsoft technical conference for IT professionals.
  • microtargeting - Microtargeting is (also called micro-targeting or micro-niche targeting) is a marketing strategy that uses consumer data and demographics to identify individuals or small groups of like-minded individuals and influence their thoughts or actions.
  • microtrend - A microtrend is a tendency in the direction of some phenomenon that is fairly pervasive within a given sphere of influence and lasts for a few years.
  • middle of life (MOL) - Middle of life (MOL), in the context of manufacturing and product lifecycles, is the segment of a product’s existence in which it is established in the marketplace.
  • mission statement - A mission statement is a communication of an organization’s purpose, usually expressed with public relations (PR) or marketing in mind.
  • mission-critical application - A mission-critical application is a software program or service that must function for the success of a business or segment of a business.
  • mission-driven brand - A mission-driven brand is an organization with a clearly-stated purpose and a dedication to acting in accordance with its stated principles.
  • model-based enterprise - Model-based enterprise (MBE) is an engineering strategy that aims to clarify design intent during the manufacturing process, resulting in better quality of the products, reduced costs and more efficiency.
  • 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.
  • monolithic - Monolithic, in information technology, means either very large or composed all in one piece, depending on the particular context.
  • monopoly - Monopolies may result from a lack of competing companies in a given market or a limited number of companies that are strong competitors.
  • monotasking (single-tasking) - Monotasking, also known as single-tasking, is the practice of dedicating oneself to a given task and minimizing potential interruptions until the task is completed or a significant period of time has elapsed.
  • 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.
  • MphasiS - MphasiS is an IT services company headquartered in Bengaluru, India.
  • multi-level marketing - Multi-level marketing (MLM) is a sales and distribution model in which a business contracts with representatives to promote and sell the company’s products to customers, while also recruiting those customers to become representatives themselves.
  • multisourcing (multi-sourcing) - Multisourcing (multi-sourcing) is an outsourcing approach, most frequently employed by large enterprises, whereby IT operations and technology infrastructure are contracted to a series of vendors, rather than kept in-house or contracted to a select few providers.
  • multitasking (in humans) - Multitasking, in a human context, is the practice of doing multiple things simultaneously, such as editing a document or responding to email while attending a teleconference.
  • mystery shopping software - Mystery shopping software is a type of ERP tool that helps organizations manage and observe all components of a mystery shopping program.

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