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.

  • N

    NetSuite

    NetSuite is a business technology vendor based in San Mateo, Calif.

  • O

    Open Platform Communications (OPC)

    Open Platform Communications (OPC) is an interoperability standard for the secure exchange of industrial automation data.

  • open source ERP

    Open source ERP refers to an enterprise resource planning (ERP) software model in which the public has access to the source code of the system.

  • operational performance management (OPM)

    Operational performance management (OPM) is the alignment of all business units within an organization to ensure that they are working together to achieve core business goals.

  • order management

    Order management is the administration of business processes related to orders for goods or services.

  • order to cash (OTC or O2C)

    Order to cash (OTC or O2C) is a set of business processes that involve receiving and fulfilling customer requests for goods or services.

  • overall equipment effectiveness (OEE)

    Overall equipment effectiveness is a measure of manufacturing operations performance and productivity, expressed in a percentage.

  • 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.

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