For enterprise resource planning you need to know its terminology. To ease the planning process in the most complete way. Here are some things you need to know.
- 3PL (third-party logistics) – A 3PL (third-party logistics) provider offers outsourced logistics services, which encompass anything that involves management of one or more facets of procurement and fulfillment activities.
- 4-D printing (four-dimensional printing) – 4-D printing is additive manufacturing that prints objects capable of transformation and, in some cases, self-assembly.
- 5 Whys (Five Whys) – Five Whys, sometimes written as ‘5 Whys,’ is a guided team exercise for identifying the root cause of a problem.
- 70 percent rule for productivity – According to the 70 percent rule, which has its roots in athletics, employees are most productive when a majority of their time is spent working at a less intense pace.
- 70-20-10 (70-20-10 rule) – 70-20-10 is a formula that describes how someone learns to do their job.
- A/B testing (split testing) – A/B testing, sometimes called split testing, is an assessment tool for identifying which version of something helps an individual or organization meet a business goal more effectively.
- ABC analysis (Pareto analysis) – ABC analysis, also known as Pareto analysis, is a method used to categorize something according to its importance or value in a given context.
- ABC classification – ABC classification is a ranking system for identifying and grouping items in terms of how useful they are for achieving business goals.
- account – An account is a unique record for each type of asset, liability, equity, revenue and expense.
- account-based marketing (ABM) – Account-based marketing (ABM) is a business-to-business (B2B) strategy that focuses sales and marketing resources on targeted accounts within a specific market.
- accountability – Accountability means being held responsible or answerable for one’s actions (or perhaps lack of action where one should have been taken).
- accounts payable – Accounts payable is a liability account in the general ledger (GL).
- accounts receivable (AR) – Accounts receivable (AR) is an item in the general ledger (GL) that shows money owed to a business by customers who have purchased goods or services on credit.
- acquisition plan – An acquisition plan, in the context of procurement, is a business document specifying all relevant considerations for the processes involved with acquiring goods, services or other organizations.
- acronym – An acronym (pronounced AK-ruh-nihm, from Greek acro- in the sense of extreme or tip and onyma or name) is an abbreviation of several words in such a way that the abbreviation itself forms a word.
- action item – An action item is a discrete task that must be accomplished, usually by a single individual or a small team or group.
- action plan – An action plan is a document that lists what steps must be taken in order to achieve a specific goal.
- actionable intelligence – Actionable intelligence is information that can be followed up on, with the further implication that a strategic plan should be undertaken to make positive use of the information gathered.
- ad hoc – Ad hoc is an adjective used to describe things that are created on the spot, usually for a single use.
- adaptive enterprise (or adaptive organization) – An adaptive enterprise (or adaptive organization) is a corporation, institution, or agency in which the business demand and the IT (information technology) supply are matched and synchronized at all times.
- adhocracy – Adhocracy is a business management and corporate culture model based the ability to adapt quickly to changing conditions.
- advanced shipping notice (ASN) – Advanced shipping notice (ASN) is a document that provides detailed information about a pending delivery.
- age of the customer – Age of the customer is the concept that consumers are more empowered than ever because they can access information about products and services over the Internet in real time.
- Agile Project Management (APM) – Agile Project Management (APM) is an iterative approach to planning and guiding project processes that breaks them down into smaller cycles called sprints, or iterations.
- AICPA (American Institute of Certified Public Accountants) – The AICPA (American Institute of Certified Public Accountants) is a member association for the accounting profession that sets ethical standards for accountants, as well as U.
- AIDA marketing model – The AIDA marketing model is a marketing, advertising and sales approach methodology designed to provide insight into the customer’s mind and represent the steps needed to cultivate leads and generate sales.
- AIOps (artificial intelligence for IT operations) – AIOps is an umbrella term for the use of big data analytics, machine learning and other AI technologies to automate the identification and resolution of common IT issues.
