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.

  • T

    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.

  • transportation management system (TMS)

    A transportation management system (TMS) is a subset of supply chain management (SCM) software focused on transport logistics. TMS systems facilitate interactions between an order management system (OMS) and the warehouse or distribution center (DC).

  • 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.

  • two-tier ERP

    Two-tier ERP (enterprise resource planning) is the practice of running two ERP systems at once -- one larger system at the corporate level, and one smaller system at the plant, division, or subsidiary level.

  • U

    upcharge

    An upcharge is an additional fee that is added to a bill after a contract has already been negotiated.

  • V

    value driver

    A value driver is an activity or capability that adds worth to a product, service or brand. One of the key ideas in defining value drivers is determining which factors provide the organization in question with a competitive edge.

  • 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.

  • vendor-managed inventory (VMI)

    Vendor-managed inventory (VMI) is an inventory management technique in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory held by a distributor.

  • virtual manufacturing

    Virtual manufacturing (VM) is the use of computers to model, simulate and optimize the critical operations and entities in a factory plant.

  • W

    Warehouse control system (WCS)

    Warehouse control system (WCS) is a software application for orchestrating activity flow within a warehouses and distribution center.

  • warehouse management system (WMS)

    A warehouse management system (WMS) is a software application that supports the day-to-day operations in a warehouse. WMS programs enable centralized management of tasks such as tracking inventory levels and stock locations.

  • 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.

  • X

    X9 (ASC X9)

    ASC X9, Inc. (X9) is the American National Standards Institute (ANSI) organization responsible for the development of all financial services standards in the United States.

  • Y

    yard management system (YMS)

    A yard management system (YMS) is a software system designed to oversee the movement of trucks and trailers in the yard of a manufacturing facility, warehouse, or distribution center.

  • Z

    Zuora

    Zuora sells software that helps companies manage their cloud subscriptions, including sales, pricing, billing, collection and renewal. Zuora also offers analytics software that tracks information on subscribers and offers ways to boost services or react to problems.

-ADS BY GOOGLE

SearchOracle

SearchCRM

SearchSAP

SearchBusinessAnalytics

SearchSQLServer

SearchContentManagement

SearchHRSoftware

Close