F - Definitions
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F
Fast Guide to acronyms used in manufacturing
These acronyms are often used in internal communications within a manufacturing environment.
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financial analytics
Financial analytics is the creation of ad hoc analysis to answer specific business questions and forecast possible future financial scenarios.
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financial application
A financial application is a software program that facilitates the management of business processes that deal with money.
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financial consolidation
Financial consolidation is the process of combining financial data from several departments or business entities within an organization, usually for reporting purposes.
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financial controller
A financial controller, also referred to as financial comptroller, is a senior-level executive who usually reports to an organization's chief financial officer (CFO).
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financial data management
Financial data management (FDM) is a process and policy, usually assisted by specialized software, that allows an enterprise or institution to consolidate its financial information, maintain compliance with accounting rules and laws, and produce detailed financial reports.
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financial management system
A financial management system is the methodology and software that an organization uses to oversee and govern its income, expenses, and assets with the objectives of maximizing profits and ensuring sustainability.
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financial modeling
Financial modeling is the construction of spreadsheet models that illustrate a company's likely financial results in quantitative terms. Financial models can simulate the effect of specific variables so that the company can plan a course of action should they occur.
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financial planning and analysis (FP&A)
Financial planning and analysis, often abbreviated FP&A, is the process of compiling and analyzing an organization's long-term financial strategy.
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financial reporting
Financial reporting is the process of producing the reports, called statements, that disclose an organization's financial status to management, investors and the U.S. federal government.
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financial supply chain management
Financial supply chain management (FSCM) is a set of software tools and processes designed to enhance an organization’s product flow, maximizing profitability and minimizing expenses.
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finite capacity scheduling
In manufacturing, finite capacity scheduling is an approach to understanding how much work can be produced in a certain time period, taking limitations on different resources into consideration.