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ERP Glossary

Glossary

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P

Packing Slip

A form used that lists the items to be shipped and the recipient of the shipment. The packing slip travels with the shipment and, at the destination, is used to confirm that the shipment is complete. It is matched with the associated invoice before payment is made.

Part numbers

A part number is a unique identifier of a part used in a particular industry. Its purpose is to simplify referencing to that part. A part number unambiguously defines a part within a single manufacturer.

Payroll

The sum of all financial records of salaries for an employee, wages, bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time.

Physical inventory

A process where a business physically counts its entire inventory. A physical inventory may be mandated by financial accounting rules or the tax regulations to place an accurate value on the inventory, or the business may need to count inventory so component parts or raw materials can be restocked.

Press release

A written or recorded communication directed at members of the news media for the purpose of announcing something ostensibly newsworthy.

Price Books

A price book is a book in which the normal prices of an item are listed for all suppliers.

Process Manufacturing

The branch of manufacturing that is associated with formulas and manufacturing recipes, and can be contrasted with discrete manufacturing, which is concerned with bills of material and routing.

Process re-engineering

The analysis and design of workflows and processes within an organization

Procurement

The acquisition of goods and/or services.

Production

The processes and methods employed to transform tangible inputs (raw materials, semi-finished goods or subassemblies) and intangible inputs (ideas, information, knowledge) into goods or services.

Product Configuration

During the time of order entry, your order is specifically configured to your specifications based on your required features and options.

Product Lifecycle Management (PLM)

Is the process of managing the entire lifecycle of a product from its conception, through design and manufacture, to service and disposal. PLM integrates people, data, processes and business systems and provides a product information backbone for companies and their extended enterprise.

Production Control

Methods and procedures employed in handling materials, parts, assemblies, and sub-assemblies, from their raw or initial stage to the finished product stage in an organized and efficient manner. It also includes activities such as planning, scheduling, routing, dispatching, stocking, etc.

Production Planning

The function of a manufacturing enterprise responsible for the efficient planning, scheduling, and coordination of all production activities.

Programmer

Someone who writes computer software.

Progress payments

An installment of a larger payment made to a contractor for work carried out up to a specified stage of the job.

Project Cost Management

Includes the processes involved in planning, estimating, budgeting, and controlling costs so that the project can be completed within the approved budget.

Project Management

A methodical approach to planning and guiding project processes from start to finish, usually guided through at least 5 stages: initiation, planning, executing, controlling, and closing.

Project Management

The discipline of planning, organizing, securing and managing resources to bring about the successful completion of specific project goals and objectives.

Project Manager

The person responsible for accomplishing the stated project objectives. Key project management responsibilities include creating clear and attainable project objectives, building the project requirements, and managing the triple constraint for projects, which are cost, time, and quality (also known as scope).

Project Planning

A discipline for stating how to complete a project within a certain timeframe, usually with defined stages, and with designated resources.

 

Project Scheduling (project management)

The planned dates for performing activities and the planned dates for meeting milestones.The project schedule is a document that identifies the timeframes for delivering a project and the dependencies between activities within that project.

Purchase Orders

A document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services the seller will provide to the buyer.

Purchase Requisition

A document generated by an internal organization to notify the purchasing department of items it needs to order, their quantity, and the time frame.

 

Purchasing

Goods bought for the purpose of use within the manufacture or building of your product, other than direct selling.