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ERP Glossary

Glossary

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C

Capable to Promise

Maximum output of a production process less what has been sold or promised.

Capacity Planning

The process of determining the production capacity needed by an organization to meet changing demands for its products.

Capital Equipment

Equipment that you use to manufacture a product, provide a service or use to sell, store and deliver merchandise. This equipment has an extended life so that it is properly regarded as a fixed asset.

CEO (Chief Executive Officer) managing director or chief executive is the highest

Ranking corporate officer (executive or administrator in charge of total management of an organization.

CFO (Chief Financial Officer)

CFO is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management.

Change Management

A structured approach to shifting or transitioning individuals, teams, and organizations from a current state to a desired future state. It is an organizational process aimed at empowering employees to accept and embrace changes in their current business environment.

Chart of Accounts

A list of the accounts used by an organization that can be numerical, alphabetic, or alpha-numeric. The structure and headings of accounts should assist in consistent posting of transactions to the G/L (General Ledger).

CIO (Chief Information Officer)

CIO the head of information technology within an organization.

Cloud Computing

Cloud computing describes a new supplement, consumption, and delivery model for IT services based on Internet protocols, and it typically involves provisioning of dynamically scalable and often virtualized resources. It is a byproduct and consequence of the ease-of-access to remote computing sites provided by the Internet. This frequently takes the form of web-based tools or applications that users can access and use through a web browser as if it were a program installed locally on their own computer.

Commissions

A form of payment to an agent for services rendered.

Compatibility

The ability of two or more systems or components to perform their required functions while sharing the same hardware or software environment.

Compliance (regulatory)

Adherence to standards, regulations, and other requirements.

Computer

A programmable machine designed to sequentially and automatically carry out a sequence of arithmetic or logical operations

Computer Networking

Often simply referred to as a network, is a collection of computers and devices interconnected by communications channels that facilitate communications among users and allows users to share resources.

Computer Programming

(often shortened to programming or coding) is the process of designing, writing, testing, debugging, and maintaining the source code of computer programs.

Computer Software

a collection of computer programs and related data that provides the instructions for telling a computer what to do and how to do it. In other words, software is a conceptual entity which is a set of computer programs, procedures, and associated documentation concerned with the operation of a data processing system.

Computer Technology

(often shortened to programming or coding) is the process of designing, writing, testing, debugging, and maintaining the source code of computer programs.

Configurator

Makes it possible to add and/or change functionalities of a core product or to build fully custom enclosures from scratch.

Consignment

Placing a person or thing in the hand of another, but retaining ownership until the goods are sold or person is transferred.

COO (Chief Operations Officer)

Can be one of the highest-ranking executives in an organization who is responsible for the daily operation of the company, and routinely reports to the highest ranking executive, usually the Chief Executive Officer (CEO)

Cost accounting

Cost accounting establishes budget and actual cost of operations, processes, departments or product and the analysis of variances, profitability or social use of funds. Managers use cost accounting to support decision-making to cut a company’s costs and improve profitability.

CRM (Customer Relationship Management)

CRM is a widely-implemented strategy for managing a company’s interactions with customers, clients and sales prospects. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service.

CTO (Configure to Order)

Manufacturer produces a product which is configured per the customers configuration prior to being produced.

Customer Information Management

The practice of systematically collecting information about individual customers and making it available to staff within a company to better inform the decisions they make regarding interactions with that customer.

Customization

To make or alter according to a customer’s individual requirements

Cycle count

An inventory management procedure where a small subset of inventory is counted on any given day. Cycle counts contrast with traditional physical inventory in that physical inventory stops operation at a facility while all items are counted at one time.