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ERP Glossary

Glossary

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M

Maintainability

The ease with which a software system or component can be modified to correct faults, improve performance or other attributes, or adapt to a changed environment.

Make to order (MTO)

MTO is a production approach where once a confirmed order for products is received, products are built. MTO is the oldest style of order fulfillment and is the most appropriate approach used for highly customized or low-volume products.

Make to Stock

A manufacturing method in which finished goods are produced and stocked prior to receipt of a customer order on forecast based of past demand.

Manufacturing workbench

A program within a software solution that is a repository for all manufacturing functions; typically available in one screen where a wealth of information is immediately available from drop downs or tabs that gives the user mass information about their manufacturing processes.

Manufacturing

The use of machine, tools and labor to produce goods for use or sale.

Mark up

An amount added to a cost price in calculating a selling price, especially an amount that takes into account overhead and profit.

Marketing

The process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development.

Master Production Schedule

A schedule that defines how much of each item the enterprise will produce over a series of production intervals such as days or weeks. The master production schedule is used to drive the rest of the Manufacturing module.

Master Production Scheduling

A plan for production, staffing, inventory, etc. It is usually linked to manufacturing where the plan indicates when and how much of each product will be demanded. Key elements that have proven their control effectivity include: forecast demand, production costs, inventory costs, lead time, working hours, capacity, inventory levels, available storage, and parts supply.

Materials management

Materials management is part of logistics and refers to the location and movement of the physical items or products. There are three main processes associated with materials management: spare parts, quality control, and inventory management. Materials management is important in large manufacturing and distribution environments, where there are multiple parts, locations, and significant money invested in these items.

Materials Manager

A person in the company who buys materials, products and services. They also plan, direct and coordinate the activities of workers, such as buyers and purchasing officers. They look for the best deal for the company and searches for the highest quality goods at the lowest possible prices, sometimes this person is also the purchasing manager.

Min/Max ( planning method)

A stock management system that sets a minimum inventory level, to reorder when the available plus incoming receipt total is less than the min. The amount of the order is the difference between the calculated (less than min) inventory and a predefined max Forecasting .

Min/Max Inventory

Items are restocked when the quantity of an item in stock is fewer than the quantity required by the inventory organization; purchase orders are created when the minimum stock level is reached and product is purchased for the maximum quantity established for purchasing each item.

Mixed Mode Manufacturing

A company has multiple manufacturing processes within the same business. A good example of this is a company who manufactures goods on a regular basis repeating the same job over and over but they also process custom work within their facility.

Mobile Application Development

The process by which application software is developed for small low-power handheld devices such as personal digital assistants, enterprise digital assistants, or mobile phones. These applications are either pre-installed on phones during manufacture, or downloaded by customers from various mobile software distribution platforms.

Mobile devices

A small,hand-held computing device, typically having a display screen with touch input and/or a miniature keyboard and weigh less than 2 pounds. Early pocket sized ones were joined in the late 2000s by larger but otherwise similar tablet computers. As in a PDA (personal digital assistant) the input and output are often combined into a touch-screen interface.

MRO (Maintenance Repair and Overhaul)

MRO involves fixing any sort of mechanical or electrical device should it become out of order or broken (known as repair, unscheduled or casualty maintenance).

MRP II

Software-based Manufacturing Resources Planning systems that translate forecasts into master production schedules, maintain bills of material (lists of product components), create work orders for each step in the production routing, track inventory levels, coordinate materials purchases with production requirements, generate “exception” reports identifying expected material shortages or other potential production problems, record shop-floor data, collect data for financial reporting purposes, and other tasks depending on the configuration of the MRP II package.