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.
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.
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
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
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
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
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