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Software Functionality Revealed in Detail
We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.
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Visit the TEC store to compare leading software solutions by funtionality, so that you can make accurate and informed software purchasing decisions.
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 fifo inventory control white pages


Streamlining Your Conversion to IFRS: Challenges, Choices, and Transformative Technologies
Transitioning to international financial reporting standards (IFRS) is more than just a mandate—it’s an opportunity for companies to improve their financial

fifo inventory control white pages  accounting prohibited First-in, first-out (FIFO) only in limited circumstances Costs are to include all costs of purchase, conversion, and transportation, plus depreciation where applicable   Differences between U.S. GAAP and IFRS Comparison Area U.S. GAAP IFRS Deferred tax Current or noncurrent asset Noncurrent asset Extraordinary items Unusual or infrequent items only Prohibited Control Control over financial interests Ability to control subsidiary Inventory LIFO permitted LIFO prohibited R & D

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Software Functionality Revealed in Detail

We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.

Get free sample report
Compare Software Solutions

Visit the TEC store to compare leading software by functionality, so that you can make accurate and informed software purchasing decisions.

Compare Now

Discrete Manufacturing (ERP)

The simplified definition of enterprise resource planning (ERP) software is a set of applications that automate finance and human resources departments and help manufacturers handle jobs such as order processing and production scheduling. ERP began as a term used to describe a sophisticated and integrated software system used for manufacturing. In its simplest sense, ERP systems create interactive environments designed to help companies manage and analyze the business processes associated with manufacturing goods, such as inventory control, order taking, accounting, and much more. Although this basic definition still holds true for ERP systems, today its definition is expanding. Today’s leading ERP systems group all traditional company management functions (finance, sales, manufacturing, and human resources). Many systems include, with varying degrees of acceptance and skill, solutions that were formerly considered peripheral such as product data management (PDM), warehouse management, manufacturing execution system (MES), and reporting. During the last few years the functional perimeter of ERP systems began an expansion into its adjacent markets, such as supply chain management (SCM), customer relationship management (CRM), business intelligence/data warehousing, and e-business, the focus of this knowledge base is mainly on the traditional ERP realms of finance, materials planning, and human resources. The foundation of any ERP implementation must be a proper exercise of aligning customers'' IT technology with their business strategies, and subsequent software selection. 

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Case Study: Enterprise Cost Control Simplifies the Complex


Wellman Thermal, a make-to-contract (MTC) manufacturer of boilers and industrial furnaces, needed an information system to record actual costs and allocate resources for each project from beginning to end. It also wanted help forecasting the outcome of individual projects. The system Wellman implemented allows the company better control of factory capacity planning and high visibility into operations. Get the details.

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Six Keys to Exceeding Expectations with Inventory Optimization Initiatives


Inventory optimization is a proven vehicle to gain competitive value through reduced inventory, freed-up working capital, and improved service levels. But leading the inventory innovation initiative in your organization requires more than an understanding of its enormous cost savings and customer service improvements. Discover the six most common factors that can make or break your inventory optimization projects.

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Are ERP Software Vendors Messing with Your Head? (The Fine Art of Interpreting White Papers)


(Scroll down for my list of Top 10 ERP White Paper Buzzwords!) I first published a version of this post a few years ago. Sad to say, not much has changed since then… Imagine that you're at the research stage of an enterprise resource planning (ERP) selection process. You're looking to get a handle on the scope of the project, and an idea of potential solutions and approaches

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Are Software Vendors Messing with Your Head? (The Art of Reading White Papers)


If you're researching a software selection project, you need to take full advantage of the white papers available to you. Find out about the top 10 white paper buzzwords used today—and learn how to make solid sense of them.

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Identity-based NAC: Using Identity to Put the “Control” in Network Access Control


Access control is more than just checking devices for malware before admitting them to a network. Identity-based network access control (NAC) looks at the identities of users and devices, and knows what resource they are authorized to access, allowing enterprises to tightly control access, and the devices and behavior of users.

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Gaining Agility, Control, and Better Performance with Application-aware Network Performance and Diagnostics


Organizations looking to enhance the performance of their vital IT infrastructure are increasingly seeking new ways to gain holistic visibility, agility, and efficiency when controlling and monitoring network performance. A relatively new breed of solutions has emerged to bridge the gap of traditional IT infrastructure monitoring systems called Application-aware Network Performance Monitoring. These new types of solutions afford organizations a chance to gain the next level of control over their network and application performance management strategies.

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Estimating the Financial Benefits of Vendor Managed Inventory (VMI)


Vendor-managed inventory provides a streamlined approach to inventory management and order fulfillment based on collaboration between suppliers and their customers (e.g. distributor, OEM, or product end-user) linking the supplier directly to actual customer demand. This white paper presents guidance on how to quantify the cost savings and benefits that accrue from VMI.

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