ERP Definitions

This glossary explains the meaning of key words and phrases that information technology (IT) and business professionals use when discussing ERP and related software products. You can find additional definitions by visiting WhatIs.com or using the search box below.

  • S

    Supplier performance management (SPM)

    Supplier performance management (SPM) is a blanket term for any business practice that is designed to manage, measure and analyze the performance of a supplier or suppliers in a network.

  • supplier risk management

    Supplier risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings that are caused by the organization's supply chain. 

  • supply chain analytics

    Supply chain analytics is the application of analytics to supply chain data to improve forecasting and efficiency and be more responsive to customer needs.

  • supply chain execution (SCE)

    Supply chain execution (SCE) is the flow of tasks involved in the supply chain, such as order fulfilment, procurement, warehousing and transporting.

  • supply chain finance

    Supply chain finance is a set of technology-enabled business and financial processes that provides flexible payment options for a buyer (such as a manufacturer) and one of their suppliers (for example, a raw materials supplier), typically through the services of a financial institution at lower financing costs.

  • supply chain management (SCM)

    Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer.

  • 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 component of supply chain management (SCM) involved with predicting future requirements to balance supply and demand.

  • supply chain sustainability

    Supply chain sustainability (SCS) is a holistic view of supply chain processes and technologies that addresses the environmental, social and legal aspects of a supply chain's components as well as their economic factors.

  • supply chain visibility (SCV)

    Supply chain visibility (SCV) is the ability of parts, components or products in transit to be tracked from the manufacturer to their final destination.

  • SWIFT FIN message

    SWIFT FIN is a message type (MT) that transmits financial information from one financial institution to another.

  • SYSPRO

    SYSPRO is a vendor that specializes in providing ERP and other integrated business software to midsize manufacturers and distributors.

  • T

    Tagetik

    Tagetik is a software vendor of cloud-based and on-premises applications on a single platform for enterprise performance management.

  • tooling

    Tooling, also known as machine tooling, is the process of acquiring the manufacturing components and machines needed for production. 

  • traceability

    Traceability, in supply chain management, 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. The concept applies to both the discrete manufacturing industry, which produces products such as automobiles, and to the process manufacturing industry, which includes products such as chemicals.

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