P - Definitions

  • P

    pick to light

    Pick to light is order-fulfillment technology that employs alphanumeric displays and buttons at storage locations to guide the manual "picking" and recording of items for shipment.

  • poka-yoke

    A poka-yoke is a mechanism that is put in place to prevent human error. The purpose of a poka-yoke is to inhibit, correct or highlight an error as it occurs.

  • process manufacturing

    Process manufacturing is the production of goods by combining supplies, ingredients or raw substances using a formula or recipe.

  • procure to pay (P2P)

    Procure to pay (purchase to pay or P2P) is the process of obtaining and managing the raw materials needed for manufacturing a product or providing a service.

  • procurement software

    Procurement software is a computer program or suite that allows an organization to automate the processes of purchasing materials and maintaining an inventory of goods.

  • product data management (PDM)

    Product data management (PDM) involves capturing and managing the electronic information related to a product so it can be used in various business processes, including production and marketing. It usually requires a dedicated software application and centralized database.

  • product information management (PIM)

    Product information management (PIM) is a classification of software products that support the global identification, linking and synchronization of product information across heterogeneous data sources.

  • product lifecycle management (PLM)

    Product lifecycle management (PLM) is a systematic approach to managing the series of changes a product goes through, from its design and development to its ultimate retirement or disposal. PLM software can be used to automate the management of product-related data and integrate the data with other business processes.

  • profit and loss statement (P&L)

    A profit and loss statement (P&L), also known as an income statement, is a financial report that shows a company's revenues and expenses over a given period of time, usually a fiscal quarter or year.

  • profitability analysis

    Profitability analysis is a component of enterprise resource planning (ERP) that allows administrators to forecast the profitability of a proposal or optimize the profitability of an existing project.

  • prototype

    In software development, a prototype is a rudimentary working model of a product or information system, usually built for demonstration purposes or as part of the development process.

  • PTC ThingWorx

    PTC ThingWorx is a model-based rapid application development (RAD) platform for the Internet of Things. The platform provides design, networking, data management and analytics tools for building business software that integrates with and manages IoT devices.