Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z



ABC classification
when items are grouped in decreasing order of annual dollar volume or other criteria. It uses the ABC principal where looser controls are applied to the lower-dollar-volume class, and tighter controls are applied to the higher-dollar-volume class. ABC classification is normally applied to inventories, sales, purchasing, etc.
access control
user identification and other tasks related to system or network access
accessory
a choice or featured added to goods or services
account combinations
when accounts listed under different groupings, e.g., departments, can be combined
account masking
a form of consolidation, whereby all accounts containing specific combinations of accounts are grouped together for reporting purposes
accounting period
the timeframe for creating an account or when information is being reproed. It is not necessarily based on a calendar year.
accounting software
targets the functional requirements required to support an enterprises accounting requirements. It can include general ledger, accounts payable (A/P) and accounts receivable (A/R), payroll, job and project costing, multinational accounting, technology, etc.
accounts payable
funds owed based on items or services received
accounts receiveable
the value of goods or services shipped or acquired for which payment has not been received
active accounts
standard accounts where revenue and cost information can be posted
ActiveX
a Microsoft browser technology that enables interactive content by automatically installing the appropriate application, so a Web feature can be used
activity-based costing
a costing method that breaks overhead costs into different drivers
actual cost
the cost that was incurred and recorded in the books, as opposed to the forecasted cost
adjusted current earnings
part of the alternative minumum tax (AMT), a US taxation tool designed to prevent a corporation with substantial economic income from using preferential deductions etc. to significantly reduce or eliminate paying US taxes. The recalculated income is called ACE
advanced planning and scheduling
any computer program that uses algorithms or logic for the optimization or simulation of manufacturing, planning, or logistics. Constraints and business rules are used to determine real time planning and scheduling, decision support, available to promise, and capable-to-promise capabilities. Elements of APS include finite capacity scheduling, sourcing, resource planning, forecasting, demand management, etc.
affinity
describes the relationship between products. It exists when 1) two or more products complement, blend, and cooperate with one another, and each benefits from the other's presence, and 2) when two or more products are purchased together. It demonstrates the extent to which a new product is consistent with the consumer's current buying and usage behaviour
aggregate demand
the total amount of goods demanded
aging
determines when a transaction last occurred in an account
alerts
an indicator that is triggered when changes, conditions, or thresholds have or have not been met, or exceeded
allocation
determines when a transaction last occurred in an account\n1) a classification of the quantities of items assigned to specific orders, but has not yet been released from the store room. 2) demanded created by sales or work orders
allocation accounts
accounts where information is collected and posted ot other accounts (such as overhead costs)
allowance for uncollectable account
when a dollar amount can be reasonably estimated for a bad debt and recorded in the period in which the sale took place. This entry is called a bad debt expense.
alternative
in a knowledge base, an alternative represents a vendor or provider that a user wants to evaluate based on his or her priorities
American Standard Code of Information Interchange
a standard eight bite code (7 data bits, and 1 parity bit) used in data communication and storage
analog-to-digital converter
a component used to allow analog and digital circuitry to communicate with each other
application programming interface
a set of routines, protocols, and tools for building software applications or for communicating with programs or other systems
application service provider
a third-party provider that leases software-based services and solutions to customers across a wide network. The ASP manages and distributes the service.
application software
software designed to perform functions for the completetion of specific tasks required for the operations of enterprises
architecture
a set of protocols that are structured and used to implement a system's functions
ASCII
American Standard Code of Information Interchange (ASCII) is a standard, 8-bit code used in data communication
asset disposal
an asset is disposed of when it reaches the end of its useful life through, e.g., auction, sale, recycle, refuse, etc.
audit system
a system that methodically examines and reviews a situation or condition within a business enterprise, and concludes with a detailed report of findings
authorized funds
funds that can be used based on, e.g., a budget, authorized plan, etc.
automated data collection
converts disparate information into computer records
automatic data processing
refers to computer-aided data storage, manipulation, or processing
available-to-promise
a designated part of a company's inventory and planned production kept in the master schedule used to fulfil customer orders
back scheduling
the act of calculating when an operation should begin by working backwards from the date an order is due
backhaul
the return movement of a transport which has provided transportation in one direction
backlog
an accumulation of unperformed tasks or unprocessed materials
bad debt expense
an entry where a bad debt and recorded in the period in which the sale took place
best deal logic
in retail, best deal logic gives the customer the bigger discount when there are two options available. For example, it will apply a $10 discount if the 10 percent off discount is less.
BestMatch Factor
a refined calculation method that supplements the weighted average to provide a more accurate representation of how well a product provider meets the user's priorities
Beta factor
a statistical function used to calculate and forecast errors
bill
a list of charges, costs, or items, e.g., a bill of sale or a bill of material
bill of material
a list of material that goes into the assembly of an item or part. It can include subassemblies, raw materials, intermediate parts, etc.
blanket purchase order
a commitment made by a supplier to supply an item or product over the long term. The item or product is sent to the purchaser in small amounts, as needed.
book
electronic or print ledgers or journals
Box-Jenkins Analysis
applies autoregressive integrated moving average (ARIMA) models to find the best fit of a time series to past values of this time series
bracket discount
a discount factor on a payment
bucket
time period
budget groups
used to establish and track budgets for work groups and smaller entities within the organization without having to create a separate general ledger (GL) account for each entity. The budget group is defined outslige of the GL account codes, allowing users to assign expenses to these accounts
budgetary control
an act where actual results for a specific period are compared with forecasted results, and corrective measures are taken, if necessary to correct variances
business intelligence
Business intelligence (BI) is a broad category of application programs and technologies that allow organizations to gather, consolidate, store, and analyze organizational data to help users make better business decisions. These applications provide users with valuable insights into key operating information allowing them to quickly identify business problems and opportunities. Users are able to access and leverage vast amounts of information to analyze relationships and understand trends that, ultimately, support business decisions BI applications include the activities of decision support, query and reporting, online analytical processing (OLAP), statistical analysis, forecasting, and data mining.
business process management
defines, enables, and manages the exchange of enterprise information through the semantics of a business process view, which involves employees, customers, partners, applications, and databases
business rules
operations, definitions, or constraints. Ideally, an alert should be triggered if a rule is breached.
business segment
a division or unit of an organization that is treated as a separate profit and loss center
business-to-business e-commerce
business conducted between businesses over the Internet
business-to-consumer
business conducted between businesses and the final consumer, largely over the Internet. May include traditional brick and mortar businesses that also offer product online, or businesses that trade exclusively electronically.
buyers workbench
a set of tools available to a buyer to assist in making a purchase decision. For example, the buyer can access vendor profiles, approved vendor lists, catalogs etc.
buyers workbench application
allows buyers to use PCs to access a database for automated reports and analysis
callback
1. a return call; 2. when employees are asked to return to work after a lay-off
cannibalization
in retail, cannibalization refers to the reduction of a product's sales because of the introduction of another similar product in the same company
capable-to-promise
a process that employs a finite-scheduling model of the manufacturing system to commit orders against capacity and inventory. It is a means to reduce errors in the delivery-date promise and to determine when an item can be delivered.
capacity
the ability, in a given time, of a resource measued in quality and quantity
capacity requirements planning
the process used to establish, measure, and adjust the limits or levels of capacity regarding the labor and machine resources required to accomplish the tasks of production.
cash availability
the cash-in and cash-out flows multiplied by the amount of time it is used in a defined period of time
cash distribution journal
a journal that summarizes all of the transactions and reduces the cash account
cash flow analysis
measures the actual cash generated by the business rather than the accounting profit
cash management
involves the capability of the system to record cash charges or deposits, recording of cash payments and receipts, cash projection reporting, calculation of expected cash uses/sources, current cash availability, etc. It monitors and analyzes cash holdings, financial deals, and investment risks.
cash receipts journal
consolidates all the transactions increasing cash, and produces a detailed analysis of change
cell
a network of workstations, their storage buffers, and the mechanisms to transport materials among them
child
a criterion contained within another criterion, in a hierarchical structure. For example, within the financials criterion, general ledger, project accounting, financial reporting, etc. can be listed, making them children of financials.
chit
an amount owed
class
in retail, it is a subdivision of department
client
in information systems, a client is a software program used to contract and obtain data from a server program on another computer
clientserver system
a networked computer system where the work is assigned based on the computer that can best perform the task
CMMS
computerized maintenance management systems
COBRA
Common Object Request Broker Architecture is a common standard for distributed applications including Web-based or Web accessible applications.
collaborative planning
involves collaboration among trading partners, including joint sharing and modelling of supply chain gaps, and collaborative forecasts. Trading partners can view and drive alternative solutions and simulations, and resolve issues around price and unit availability, including flexibility and target replenishment levels (re-order points). Within the demand management module, collaborative forecasting must comply with process and data standards that have been validated by the VICS Council, RosettaNet, and other industry bodies that have modeled these processes for their industries.
commitment
a binding obligation e.g., a purchase order
common chart of accounts
lets an organization integrate its data within financial and cost accounting systems, whether or not the data are included internally or externally. A common chart of accounts helps drive consistency of reported information, in addition to decreasing the reconciliation and consolidation procedures. Using a common chart of accounts is a method of ensuring compatibility across business units.
Common Object Request Broker Architecture
See COBRA
computer numerical control
a specific computerized machine control used in the repetitive manufacturing
computer-assisted software engineering
computerized tools are used to design, develop, and maintain software systems and products
computerized maintenance management systems
an automated software system that schedules, tracks, and monitors maintenance activities, and provides cost. It can also handle maintenance work orders, as well as associated inventory, purchasing, accounting, and human resources.
consensus planning
a method to create a 'one number' forecast, which acts as a unifier among disparate departments in an organization. The process produces one number upon which the supply chain will act.
consignment
a shipment
consolidation
refers to grouping together smaller shipments (also known as consignments) of goods into a large shipment for carriage, as a larger unit, to obtain a reduced shipping rate.
consolidation point
the location where consolidation takes place
control break
in accounting, control breaks, when used in reports, are similiar to sub-totals
cost accounting
analyzes corporate costs related to overhead, products, and manufacturing orders. It provides a variety of costing approaches such as standard, first in, first out (FIFO); last in, first out (LIFO); average; target; and activity-based costing (ABC).
cost center
a division, or department that adds to the overall cost of an organization e.g., research and development
cost method
calculates merchandise costs by using weighted average costs or lasted landed cost
cost pool dimension codes
For each allocation code, dimension codes are specified for the source and target of the allocation. The amount to be allocated is determined by the postings made to the combination of the source dimension code and the cost category accounts, and this amount is then spread over the target dimension codes or activities.
costing activity
the act of allocating costs for the resources involved in the production of a product that has not been completed at the time of the accounting period, or which will be completed during that time period.
costing layers of inventory
a means to calculate the cost of inventory where the price is not fixed, either due to market fluctuations or stages of production
costs of goods sold
also known as the cost of sales, it is the direct cost of production which includes direct materials and labor, and allocated overhead costs of a product
count point
a point in a flow of material or sequence of operations where parts, subassemblies, or assemblies are counted as complete
cross-charge
revenues or expenditures that have been transferred from one area of an organization to another
cross-sales channel promotions
in retail, this refers to making a purchase in one area, and receiving a discount, free gift etc., in another. e.g., buy online, and get $10 off an in-store purchase
Crostons Intermittent model
a model used to predict inventory demand when it is intermittent
current balance
the total of all transactions and pending charges in an account
customer relationship management
software systems that cover the range of interaction a company has with its current, or potential customers. Its functionality can include marketing automation, sales force automation, help desk, customer service and support, partner management, contract management and creation, project and team management, Internet sales, e-mail response management, analytics, and important technical criteria.
cycle count
the process of counting inventory periodically as opposed to yearly
database
an organized collection of data that can be accessed electronically
DCE
Distributed Computing Environment is based on a client/server computing model as a set of integrated network services. It is the middleware between operating systems or network services and distributed applications.
decision tree
all the factors within the structure of a parent, child, and sibling relationship of a model
default currency
the type of currency used by the purchaser e.g., US dollars, Canadian dollars, euros etc.
deferred depreciation
when an item's depreciation in not carried forward until a specified time; however the asset's usage is allocated in the period from which it was used.
deferred income plan
a plan created by an organization to pay employees at a later date e.g., retirement plan
demand management
involves planning, executing and monitoring the design pricing, and marketing of products and services to meet an enterprise's needs
denormalized read-only database tables
database tables that show data from separate files or tables in a single table
department
a division within an organization
depreciation
the allocation of an expense that reflects an asset's use by the organization.
DES
Data Encryption Standard is a cryptographic algorithm
discrete enterprise resource planning
The discrete enterprise resource planning (ERP) addresses discrete manufacturing (distinct items such as auto parts or chairs) as well as non-manufacturing industries. Functionality includes production planning, shop floor control, and product costing, and may also provide financials, human resources, and other enterprise management modules.
dispatch system
a system that organizes and sends jobs to a particular location
distributed computing environment
an Open Software Foundation (OSF) specification taht defines the method of communication between clients and servers in a cross-platform computing environment. It provides functions such as authentication, directory service, remote procedure call, and others that assist networking
distribution
1) the sharing of costs or assets 2) the movement of materials from manufacturer to customer, or from manufacturing, warehouse, or in transportation
drawer limit
the maximum or minimum amount of cash allowed in the drawer at one time
drop-ship
a special order when goods are sent directly to the customer without going through the warehouse
dual resource requirements per operation
the ability to both set-up resource requirements and run resource requirement to be specified for each operation
Dynamic Data Exchange
a protocol for exchanging data between two programs
economic order quantity
refers to the optimal amount of an item an enterprise should order that will minimize the total variable costs required to order and hold inventory
effective date
in retail, it refers to the date when a price change will take effect
effectivity date
the date when a component or operation can be added or removed from a bill of material or assembly process
effectivity range
a range specified by serial numbers, dates, etc.
elapsed time
the time that has passed between the start and end of a project or computer operation, in constract to the actual time needed to do a particular task, which is part of the project
electronic funds transfer
a system that moves funds from one account to another without any physical currency moving. e.g., direct deposit, money wiring
end item alternative allocation
end items are allocated to a reserve and used on a first come, first serve basis by channels, customers, etc., that have used up their allocations
engineering bill of materials
a type of bill of material (BOM) reflecting engineering's product design, which may include part substitutes, but excludes parts reflected in drawing notes
engineering change
a change or revision to a drawing or design to modify of correct a part
engineering change notice
See engineering change
engineering change order
See engineering change
engineer-to-order enterprise resource planning
engineer-to-order (ETO) enterprise resource planning supports the requirements of companies that manufacture products based their customers' unique engineering designs. ETO ERP assists companies that create products requiring special processes for estimates, purchasing materials, engineering changes, cost allocation and tracking, and ongoing work with customers.
enterprise asset management
a system which supports maintenance management tasks. EAM systems typically enable planning, controlling, and monitoring of physical asset events. This knowledge base includes criteria for comparing general computerized maintenance management system (CMMS) functionality, fleet maintenance, workflow, reporting, and other areas that touch upon asset management practices.
enterprise content management
systems that enable the management of web site content,internal corporate documentation and information, and group collaboration. Typical functionality includes content authoring, workflow, presentation, asset management, reporting, backup, and other criteria for content management processes.
enterprise marketing management
supports various systems that help companies market their services or products effectively and efficiently. EMM tools help manage strategic planning and marketing resources (sometimes referred to as marketing resource management or MRM).
ERGO
ERGO is the single-user version of the TESS decision support system (DSS) that is designed to help users organize their decision criteria and their related priorities, as well as vendor evaluation information.
ERGOV
ERGOV is a version of the powerful decision support system ERGO, designed for professionals in the public sector
estimate to complete
the approximate timeframe for a project, job, etc. to be completed
European Article Number
an international retail product code
exception report
a report that selects data based on specific parameters to identify process exceptions
execution scheduling
determines the order in which orders should be sent and what resources are required
exempt
a payroll classification where employees cannot report or be compensated for overtime
extended price
a price that is calculated by multiplying the quantity of an item by the retail price
external queue move times
the amount of time it takes for an item or product to move to and from external operations
factor
each item in the hierarchy of the model including categories, sub-categories, and criteria
financial snapshot
a means to view the current financial situation of a company. They may include financial statements, daily tracking of sales, or accounts receiveable balances.
finite scheduling
a scheduling methodology where the amount of work assigned to a group center is such that no work center exceeds its capacity.
fixed amount price change
shows the affect of a price change on an item when a specified amount is added or reduced
fixed assets
manages depreciation and other costs associated with tangible assets such as buildings, property and equipment
fixed cost
an expenditure that does not vary with production volume e.g., rent, property tax etc.
fixed pick time
a specific time when product is taken from the warehouse
flow manufacturing
a type of manufacturing where production is done at a particular rate, in a continuous, uninterupted manner.
forecast halo
describes the positive sales lift of a product that results from promoting another product
Form 1099
a form issued by the US Internal Revenue Service (IRS), which is used in the US income tax system
fourth-generation language
fourth-generation language (4GL) is a high-level language used for data access and complex data manipulatoin
free goods discounting
in retail, this refers to any free items that are given away with purchase (freebies)
freight bill
a carrier's invoice for the transportation charges applicable to a freight shipment
frozen cost
a standard cost that is calculated at the beginning of each year and then is used for valuation purposes throughout the year
gateways
interfaces that convert protocols in order to connect different networks
general ledger
a record of transactions posted from a journal. It is often a control account that reports the totals and details from subsidiary accounts
general ledger key
an identifier attached to accounts that is used to put them into groups
global database
a collection of data found at the corporate level
global trade identification number
a 14-digit numbering structure used to identify consumer products
greater than truckload
the quantity of freight that exceeds a the capacity of a truck
harmonized
standardized codes set by a higher authority, e.g., goverment, international body
hazmat
hazardous material
hedge contract
a contract that is designed to protect a company against future fluctuations in the commodity market
hierarchy
all factors in a structure of parent, child, and sibling relationships of a model
Holt-Winters models
Holt-Winter's model incorporates three potentially different smoothing constants. The Holt-Winter's model has one smoothing constant to update the level, one for the slope, and one for the seasonal components. This approach is most useful when the seasonal component and the trend component are changing at different paces over time. The three smoothing constants lie somewhere between 0 and 1. If the components change rapidly, large smoothing constants should be considered; for stable components, the smoothing constants should be close to zero.
IDEA
International Data Encryption Standard is a cryptographic algorithm
import batch from outside application
users can import information from outside applications in the form of a ready-to-post batch, as if the information has been posted from a submodule
inactive accounts
accounts where information cannot be be posted, until they are made active by the user
infinite loading
jobs are assigned to a work center using a time calculation, rather than capacity
initialization run
in inventory, an initialization run is when inventory is counted to determine policy, such as when inventory is needed, and how it will be used in the company
intercompany accounts
accounts that are used to collect revenue and costs relating to transactions between related entities
internal queue move times
the amont of time it takes for an item or product to move in the company
inventory management
inventory management tracks the ins and outs of a product, down to the level of its color and size. It uses capabilities such as purchase order (PO) processes, receipt processes, allocation processes, distribution processes, transfer processes, style consolidation processes, physical count processes, and inventory freeze processes.
inventory optimization
consists of tools used by merchandisers to make important buying and selling decisions regarding inventory. Though vendors employ different terms (such as strategic merchandise management, merchandise and assortment planning, planning decision support, and replenishment) to describe inventory optimization, they refer to software that helps merchandisers make accurate decisions and ensure products are placed at the right time, price, and place. The tools used by inventory optimization often include planning, forecasting, replenishment, and stock optimization.
inventory valuation
the value of inventory, either at cost or at market value
IO
input/output
JIT
just-in-time
job costing
the act of assigning cost to a specific job
journal entry
an entry that documents business transactions between accounts, where cash has not been received or a check has not been written
journal vouchers
a document that provides written authorization for a financial transaction, either to supplement or to use instead of a journal. It usually contains explanations, amounts, references, etc. to support an entry
just-in-time
a manufacturing concept designed to eliminate waste and improve productivity. It is a pull system driven by demand, where one part is produced just before it is needed for the next operation.
knowledge base
a combination of criteria and methods required to anlayze one or more alternatives for a decision
knowledge sharing diary
an avenue where users can post work-related knowledge, expertise, or experiences, which can be shared with fellow employees e.g., blog
knowledge tree
an organized tree structure that is used to categorize the evaluation criteria that represents a knowledge base. These criteria contain the features and functions of the solution that are evaluated.
layaway
refers to the purchase of an item, where the buyer pays on installments, picking it up at a later date, after the final payment is made
layoff
a suspension of work and pay from a company because of slow sales, plant breakdowns, etc.
lead production
a philosophy that strives to eliminate waste and non-value adding activities in all areas of an enterprise, ranging from design, production to supply chain management and customer care.
lead time
the amount of time required to fulfill a process or create an item. Also, the time between the need for an order and its receipt, including preparation time, transportation, etc.
lead-time offset
used in manufacturing resource planning (MRP). A planned order receipt is released at an earlier time, based on its lead-time
leaf factor
a factor that is in a child relationship with another factor
lean manufacturing accounting
typically refers to paperless (or less paper) production and accounting. Instead of recording costs for every single order, the idea is to record these for certain determined cycles or schedules.
lean software selection process
The lean software selection process focuses on the decision cycle as a value stream by removing actions that do not create value, and streamlining those that do, so that the process moves in a continuous flow.
learning management system
a system that manages educational resources. It can enable and keep records for e-learning courses; track course attendence; maintain databases of courses taken and individual results; schedule courses; assign instructors, facilities, and equipment to a course, etc. LMS may also include human resources information management (HRIM), enteprise resource planning (ERP), e-commerce capabilities, and dashboards.
ledger
a book containing accounts to which debits and credits are posted
less than truckload
a quantity of freight that constitutes less than a truckload
line
1) a physical space on the shop floor where the manufacture of products take place e.g., a series of machines connected by a conveyor belt. 2) a manufacturing process that produces a large volume of products that are identical or similar in design
line item
a transaction recorded in a single entry in a ledger or budget
load
normally refers to transport by truck; the quantity or nature of what is being carried
load optimization
the best possible solution in terms of the quantity or nature of what is being carried
loss and prevention reports
reports that analyze store operations for signs of theft or fraud. In retail, it includes tender auditing, sales auditing, etc.
lot
a quantity produced at the same time, sharing the same product costs, specifications, etc.
lot number
a number assigned to a product when it is received at the warehouse and entered into the computer system
MAD
mean average distribution
mass customization
the high-volume production of products that can be tailored to customer specifications, while keeping costs down for the manufacturer
mass production
the large volume manufacture of standardized goods using specialized equipment and labor
master data
information describing characteristics, such as cost collectors, customers, or vendors
master route design
Creating a master route sets the groundwork for a transportation system. Creating an optimal network (though often carrier-ships and trucks must adapt and make alternate plans in excution mode), sets the stage for the best price performance transporation strategy. This incorporates mix-mode and multi-mode approaches such as rail versus truck and ship versus air; it also evaluates the pricing of different lanes.
matching rules
a system used to determine what type of supporting documents are needed for an invoice
material and capacity allocation
allocations made against materials that are in short supply
mean absolute deviation
used to forecast errors, track signals, etc. The average of absolute values of the deviations of observed values from an expected value
mean time between failures
the mean average time period between failures of equipment or machinery
memo account
non-monetary reference amounts are stored in a financial statement
merchandise and assortment planning
see inventory optimization
merchandise planning
in retail, it is a method that analyzes demand at an item level, which helps retailers understand demand-based demographics, store locations, shelves, and product positioning in the retail channel
minimum and maximum formulas
used in inventory management, mininum and maximum formulas allow enterprise to calculate replenishment by percentage, ratio, etc. to better meet demand. For example, minumum and maximum formulas by percentage might indicate that 20 percent of the quantity to be replenished must be small, 50 percent must be medium, and 30 percent must be large. A minimum and maximum formula by ratio might use a replenishment ratio of 2:3:4, so if an order is placed for six units of product small, then there must be nine units of medium, and twelve units of large.
model
a combination of factors and methods required to anlayze one or more alternatives of a decision. TEC modesl include a hierarchy, definitions, priorities, rating methods, and other items used to compose a knowledge base of information about may different vendors or provider solutions
multilevel disaggregating
multilevel aggregation
multiprice promotions
in retail, multiprice promotions include buy one, and get one free; buy two, get one free, etc.
net requirements
in manufacturing resource planning (MRP) net requirements are derived from applying gross requirements and allocations against inventory on hand, scheduled receipts, and safety stock
non-conformance
when an item does not meet specifications or fails to meet established quality controls
non-exempt
a payroll classification where employees can report and be compensated for overtime
non-nettable
when an MRP system of function does not apply gross requirements and allocations against inventory on hand, scheduled receipts, and safety stock
object linking and embedding
an enhancement of the dynamic data exchange (DDE). It embeds or links pictures or text files created in one application into another application
object linking and embedding for databases
a set of component object model (COM)-based interfaces that provides applications with uniform access to data stored at diverse sources. It enables a user to access a database
offset lead time
in manufacturing resource planning (MRP), it is when a planned order receipt is released earlier, based on the lead time for the item
one-sided journal entry
a one-sided transaction often used to correct errors in a journal or ledger
online analytical processing
also called cubes. Consolidates organizational data to be viewed multidimensionally. Users can view and analyze data, trends, and algorithms based on different views that can be shown in different ways
Open Database Connectivity
a standard application program interface (API) that accesses data in both relational and non-relational database management systems with one common language
Open Software Foundation
a consortium of computer companies that are attempting to define a common operating environment for workstations. Founded in 1988, its goals are to supply a portable, scaleable, open systems It has defined the distributed computing environment (DCE)
order commitment
a statement of promise in a document form that formalizes a purchase transaction with a vendor
over receive
refers to the receipt of a greater quantity than what was originally ordered
parent
in a hierarchical structure, it is a criterion comprising other criteria. For example, within the financials criterion, general ledger, project accounting, financial reporting, etc. can be listed. All of the criteria listed under financials are considered the children of financials.
pegging
used in manufacturing resource planning (MRP) and manufacturing, planning, and scheduling (MSP) to trace an item, the sources of its gross requirements, or its allocations
physical stocking location
the location where an item is stored as determined with factors such as product demand, production capacity, etc.
picking
the process of taking components from stock for assemblies or finished goods
planning decision support
see inventory optimization
point of sale
a system that helps retailers automate transactions. POS solutions are used in retail stores where sales associates must enter sales, refunds, layaways, transfers, etc. POS systems may include inventory management, register management, price management, transaction management, and other capabilities.
points of a hierarchy
refers to a hierarchy's attributes
prepack
a carton packed with a predefined stock keeping unit (SKU) selection
price elasticity
in economics, the extent to which a change in price will cause a change in demand.
price look-up
a four digit code used to identify consumer items, such as produce
price management
encompasses a group of applications for maintaining records of item prices. Its functionalities include markdowns, markups, promotions, discounts, etc.
price points
prices of different products within a range, and between price parameters
primary processing
where raw materials are changed into standard industrial stock
primary store
the location where a consumer makes the most purchases
priorities
an expression of the importance that has been assigned to a criterion in the knowledge tree. Vendors or providers are compared and ranked on how well they can meet user priorities
process enterprise resource planning
The process enterprise resource planning (ERP) assists businesses in the process manufacturing field, which typically involves mixing, separating, forming, or performing chemical reactions (for example, paint manufacturers or refineries). The knowledge base includes criteria for determining batch control and reporting, formula and routing, and material management capabilities. It also provides information for other enterprise management modules such as human resources and financials.
processing job
when a computer analyzes a load of data and performs calculations with it
product grade
the categorization of goods based on the number of specifications that have been met during manufacturing
product information management
provides a common, central repository to manage all types of information about finished products. It integrates with back-office systems and provides additional workflow management
product lifecycle management
software tools used to document and support the complete life cycle products. It is used in the mechanical design, analysis, and manufacturing to support products throughout the entire product life cycle, or to design product maintenance or similar services. PLM is largely used by manufacturing companies.
product line
a group of products that share something in common, e.g., characteristics, function, or company mission
product profile
the characteristics and attributes of a product
production report
a statement of output for a specified period, which may include, quantity, labor, efficiencies
project
an instance of knowledge base that is specific for a user. It has a name, a start and end date, a set of weights specific to that project, user permissions, vendor selections, and scores. User permissions include the ability to read or write weights, view vendor, add a custom solution, and access reports
project costing
the act of assigning cost to each area (assignment) of a project. Each assignment is considered independent of each other in the same project
project map
the main menu in the evaluation center where users can select various steps of the evaluation
project portfolio management
a business practice that assists organizations to align their portfolio of projects with their business strategy. Typically IT departments employ an IT governance framework to ensure that their PPM strategy is put into action. It allows both executives and IT decision makers to gain insight into their IT portfolios. PPM software allows IT managers to prioritize projects, allocate resources where needed, and gain financial insight into their portfolio investments.
promotions within a promotion
refers to overlapping promotions, such as a vendor giving a 10 percent promotion off a product line, in addition to another discount to mark a holiday
purchase cost
the amount for which an item was procured
purchase order
a formalized purchase transaction issued by the purchaser
purge
the removal of data from a database, so it is not longer available. The data is either deleted or archived.
put-up size
standard terminology in the wire and cable manufacturing industry. The size of reels available for a cable
qualification levels
qualification levels indicate the appropriateness of a vendor in its ability to satisfy requirements. For example, a vendor can be described as qualified, non-qualified, or under evaluation.
quote
a bid containing prices, terms, a description of services, etc.
radio frequency identification
a system that uses radio frequency to identify and track unique items. RFID tags, in the context of enterprise resource planning and supply chain management, make items visible from manufacturing through distribution. RFID tags may be used to carry basic information such as an address, to more complex information used at different stages of an assembly line.
RDBMS
relational database management system (RDBMS) are a type of database management system (DBMS) that stores data in the form of related tables.
real time
1) coordinating data processing with external events to receive immediate results, e.g., reports 2) refers to the processing of information so rapidly that it appears to be instanteous
recall
1) when laid-off employees are called back from their company
recurring journal entries
scheduled, repetitive transactions that use the same accoutning information and amounts.
refund
a tendered transaction that was returned after the sales transaction was completed. The items are returned and the customer's money is refunded, typically as the original tender type.
relational database management system
see RDBMS
relay
when a driver takes a truck for a shift, and then passes the truck to another driver, so the truck is constantly moving. Relay is a common practice in the less than truckload (LTL) industry.
remote procedure call
a protocol that allows a program running from a host computer, to run on other computers
replacement cost
a method for assigning an item's cost by inventory valuation based on the value of the next purchase
replenishment order quantity
an amount of inventory, either standard or fixed, that is ordered when stock falls below a specified level
repository
a central place whree data is stored and maintained
retail inventory method
a special method of inventory evaluation where the value of inventory is determined by applying a predetermined percentage to the inventory value
retail method
a means that evaluates inventory where the value is determined by applying a predetermined percentage to the inventory value, specified at retail prices
return on asset
the net income for the previous twelve months divided by total assets
return on investment
a financial measure of the relative return from an investment, usually expressed as a percentage of the earnings produced by an asset to the amount invested in the asset.
return to vendor
material that has been rejected by the buyer's inspection department and is designated for return for credit or replacement
revenue management
a system that uses sales history, trends, and planning and forecasting tools to sell inventory at profitable margins, create promotional events, and determine markdowns to allow retailers to liquidate discontinued or out of style products in order to decrease losses
revision level
a letter or number representing the number of times a part drawing or specification has changed
rework order
an order to salvage a defective part or item
roll up
the sums presented in an information tree that has been totaled
rolling balances
balances are carried over from one period to another
routing maintenance report
a report that includes information on the maintenance and manufacture of an item
routings
details about the manufacturing method, such as the production rate, for specific items
RS-232
a serial, single-ended device protocol
run size
the quantity of a parent that is used to determine the material requirements for a production line
sales and operation planning
a process that employs enabling technology to balance demand and supply to create a feasible forecast that meets an enterprise's global organizational needs. S&OP processes also ask questions around investment to improve responsiveness, customer service, reduce risk, and increase market share. Integration is important because the data that can answer these questions may reside in other modules such as APS or inventory planning.
sales channels
locations and avenues where merchandise or services are sold, such as retail stores, wholesale customers, Internet sales, etc.
sales slip management
a group of software used for maintaining receipts or ticket printings
sales tax
a levy on goods and services by government at the point of sale
Sales tax allocation to company or division
companies are required to collect and remit sales taxes when a purchase is made by e.g., a department or branch in a different tax jurisdiction
salvage
worn, damaged, incomplete, or specialized property that has little prospect of resale or serviceable use without some degree of repair or alteration; however it has some scrap value
score
a representation of the functionality of various alternatives in an evaluation
scrap component
a part that is faulty or fails to meet quality standards. Part may be salvaged, or disgarded.
scrap value
1) the value of used property that is no longer used. 2) the market value of machinery at any point in time
secondary processing
the useful by-product resulting from core manufacturing processing. e.g., forming metal; gas by-products, etc.
secure delete
allows a rollback that restores data, if data is accidently deleted
segregating subsidary schedules
a method for presenting detailed information without cluttering the basic report
send ahead
when part of a lot is moved to another operation before the entire lot is complete
service level
in transportation, it is the measure for the extent to which customer orders can be executed at the delivery conditions normally accepted in the market
Shortlist Wizard
a short questionnaire used in the evaluation center, designed to create a user profile by asking questions about their business requirements. The user profile is compared to vendor capabilities, and upon answering all questions, the user is presented with an alphabetized list of vendors that would best fit his or her needs. Vendors can be selected from this list for a more detailed evaluation.
site specification
a planning team's statement of goals for site development to provide policy direction. It includes, planning, budget, technical features, major design, tentative deadlines etc.
skeleton recurring journal
a journal template that includes a chart of account values, but does not include dollar amounts
special order transit
the process of shipping goods to the warehouse that will be later shipped to the customer
spiff
a small bonus given after a sale, usually given by the supplier to encourage sales associates to sell their product
split lot
a manufacturing order that has been divided into parts, due to e.g., time constraints, usually after the order has been released
SQL
structured query language (SQL) is a relational data language that is keyword-oriented. It is used for data querying, definition, manipulation, and control
standard batch quantity
are the specifications of the material requirements for production, taken from the quantity of the parent basis
standard cost
the budgeted or assigned costs of operations, processes, overhead, labor, etc.
standard recurring journal
a journal template where accounting values are fixed
statistical accounts
accounts where non-financial information is stored
stock ledger
a record of all transactions affecting inventory, including shrinkage) and the associated costs of inventory (including markdowns), for the purpose of booking merchandise value
strategic merchandise management
see inventory optimization
strategic route design
master route design
structured query language
See SQL
subcontract
when suppliers provide goods and services that were previous provided internally
sub-ledger
detailed transactions, such as invoices, corporate debt, and purchase orders
summary expense report
a statement listing incurred expenses
supplier relationship management
the management of information between suppliers and purchasers, which is incorporated into the procurement process. It involves supplier, manufacturer, wholesaler, retailer, and customer business processes. Demand management, warehouse management, international trade logistics, transportation execution, and other areas may also form an SRM system.
supply chain event management
a class of solutions designed to monitor, notify, analyze, measure, and control business process and the execution different types of activities. Also known as supply chain network systems
supply chain management
a system that manages the entire value-added chain form supplier to manufacturer, to customer. Supply chain activities, such as design, planning, execution, and control are synchronized with supply and demand, and logistics are used to maximize greater net value.
supply chain network systems
See supply chain event management
supply chain optimization
a process that streamlines the supply chain by linking resources. It can design a best fit supply chain by time, cost, and other factors. By creating a responsive and lean supply chain, it can reduce bottlenecks and optimize schedules by sharing inventory and order information.
suspended transaction
a transaction that is stored (not tendered) for recall at a later time. Generally, it is informational, so it does not indicate money in, and money out.
tactical fleet utilization
a sequential, hierarchical structure that minimizes cost while maximizing asset utilization to ensure that service levels are high, while freight costs remain low. a sequential, hierarchical structure that minimizes cost while maximizing asset utilization to ensure that service levels are high, while freight costs remain low. It is comprised of three phases pool segmentation, strategic fleet planning, and tactical fleet planning
tariff codes
identifiers supplied by government authorities, used to categorize merchandise for customs purposes
task
the lowest level of which operations can be subdivided
tax basis cost
the cost of an asset that is used to determine tax liabilities. It may include fees such as the purchase price, including capital gains and losses, accrued interest, etc.
tax over tax calculations
calculations that compute tax requirements from different bodies (e.g., federal, state, etc.) using a cascading method. For example, total price = (retail price + tax 1) + tax 2
temporary price changes
in retail, temporary price change refers to promotional price changes
TESS
TESS (Technology Evaluation Support System) is a decision support system (DSS) used for large-scale knowledge gathering and decision-making.
three-way match
a system of rules that determines what type of supporting documents are needed for an invoice. A three-way match generally requires an invoice, purchase order, and receiving.
throughput
1. the total volume of production generated through a machine, work center, etc. 2. in the theory of constraints, the reate which a system generates revenue through sales.
time release
in retail, timed releases refer to a specific or mandatory release date when certain items can be sold, such as movies, music, etc.
trade lane
a commerical connection between two or more individual markets
trade-off
in transportation, a trade-off refers to spending more money on one fuction to save on another
transportation management systems
a process that contains the basic components of a shared information system to support collaboration, rates, routes, roles, transaction sets, documents, and information exchanged to facilitate the booking, execution, and settlement of transportation movements.
transportation network optimization
Transportation network optimization efforts allow both shippers and customers to gain the best time/cost performance in transportation. These systems allow users to set strategy by understanding the trade-offs of supply chain designs and selecting various modes of transportation. For example, users can weigh the high cost of air transport with its time benefits, versus the less expensive rail, but slower times. These systems also allow users to asses complex multi-model strategies and complex process synchronization such as consolidation processes and intransit merge. Even if a firm outsources their transportation operations to external third-party logistics providers (3PL), firms should run their own simulations in order to assess the performance of their service providers and understand alternative routes and solutions in case of a crisis or transportation disruption. For firms operating their own fleets, these optimization capabilities become a part of their daily operations to ensure the highest level of supply chain performance by order, by customer, at the right service levels, and as profitably as possible. These concepts include maximizing the issue of assets, which include trucks, trailers, containers, and ship capacity, as well as the high performance flow through processing sites such as intermodel facilities, yards, and loading docks. At a tactical level, these systems can plan the order of loading of cargo and sequence of pick-ups and drop-offs to maximize performance and solve back haul problems.
trial balance
when a general ledger balances an activity for a specified period
trigger
notifies users that an action needs to take place if certain parameters have been met or exceeded
two-way match
a system of rules that determines what type of supporting documents are needed for an invoice. A two-way match is normally used when purchasing services, because it only requires an invoice and purchase order because there are no goods to receive. A two-way match can also be issued until the goods arrive.
uncollectable account
an account where funds are not likely to be collected
unique quote requirements
conditions and details that are not normally presented in a standard quote
universal price code
a 12-digit code used to retail to identify products
UOM
units of measure
up-sell
the selling of upgrades, add-ons, or enhancements for a specified product or service
user-defined time horizon
a time period, such as days, weeks, or months, as defined by the user
variance
the difference between an expected or forecasted value, and the actual value
VAT calculated on VAT
value added tax (VAT) is a tax levied on the sale of goods or services. An example of calculating a VAT on a VAT is when a state or provincial tax is calculated after the federal tax is added to the amount
vehicle capacity
the amount of product that can be transported. Usually refers to trucks
vendor currency
the type of currency a supplier uses when issuing transactions
vendor managed inventory replenishment
a system that allows the co-management of inventory by both customers as well as the supplier
very large database
definitions vary, however it can be considered a database that is over 100 gigabytes
void
a status that is used to designate a transaction line or an entire transaction that was reversed as part of a voided tendered transaction. Also used to designate a transaction line that was reversed after the transaction was made.
voucher
a document that authorizes payment for a service performed, or goods received/exchanged
W-9 form
a legally binding US Internal Revenue Service (IRS) form that is used by employers to collect taxpayer indentification information, such as social security numbers or taxpayer identification number. The form is never sent to the IRS, but is used by employers for verification purposes.
warehouse limit
an assigned space in a warehouse for an item
warehouse management system
a business practice that provides a database and user-level tools in order for a company to optimize its storage facilities while at the same time providing user level task direction and activity support. The WMS should enable warehouse operators to optimize pick, put-away, and replenishment functions by employing powerful system logic to select the best locations and sequences
weighted average
a mathematical calcuation used to determine how well a vendor's or provider's scores match up to a user's priorities. It is the primary method used for comparisons in TEC's evaluation centers. The weighted average is calculated by multiplying the amount of priority given to the selected criteria with the vendor scores for those criteria. The results are then summed up to get the total weighted average.
where-used queries
queries that allow users to find all about single level parents in all bills of material (BOM) that include a specific amount
witholding
a prepayment, usually of a tax, acts as a prepayment of tax that contract workers will owe at the end of the year. It can also act as a direct payment of taxes
yard management system
a system designed to facilitate and organize the movement and staging of trucks and trailers in the parking yard that serves a warehouse, distribution, or manufacturing facility. It is a process that maximizes the contribution of every slot, vessel, trade, and network based on allocating capacity to a customer to minimize cost and maximize yield to the company