ERP, CRM, WMS, EDI
DECODING THE ALPHABET SOUP : A GUIDE TO INDUSTRY ACRONYMS
Let’s face it—when you’re deep in the trenches of any industry, it’s easy to forget how overwhelming all the acronyms we toss around can be for newcomers or outsiders.
But here’s the thing: clearer communication makes everyone’s life easier—whether it’s for new hires trying to get up to speed, customers evaluating new our solutions, prospects figuring out what they need, or partners trying to collaborate effectively. That’s why we decided to compile the most used acronyms in the business management software, manufacturing and distribution worlds– and and create a guide with acronyms of the industry.
Here is our guide to acronyms most often used in the world of technologies for small and midsize businesses.
AI is a set of technologies that enable computers to perform a variety of advanced functions, including the ability to see, understand and translate spoken and written language, analyze data, make recommendations, and more.
It is a set of rules and specifications that allows different software applications to communicate and interact with each other.
Business Intelligence software collects and provides real time data to analyze trends, discover patterns, and generate informed decision making. With BI you can customize dashboards, create reports, run queries, and produce graphics/visuals as you need them, at the click of a button.
Products
A Bill of Materials is a list of all the raw materials, components and parts with their quantities required to manufacture and design a final product.
Product
Customer Relationship Management software stores all your business partners including clients, prospects, vendors, suppliers, and tracks all the activities/opportunities associated with them throughout marketing, sales, and service lifecycles. A CRM can automate workflows including cold outreach and nurturing activities for marketing, lifecycle progression and automated documentation sequenced for sales, as well as payment tracing and customer inquiry for services.
Product
It is a digital storage system that connects and harmonizes large amounts of data from many different sources.
Electronic Data Interchange replaces paper, fax, and manual inbound and outbound order processes and communications. EDI is a great tool to automate the entry, accelerate the processing, and increase the accuracy of data, resulting in streamlined communication and faster order fulfillment.
Product
SAP EFM, or Electronic File Manager, is a tool within SAP Business One used for converting and mapping data from various sources into a format compatible with SAP Business One. It’s used for tasks like importing bank statements and processing payment files, as well as exporting financial data in specific formats.
Product
Enterprise Resource Planning software is a business management system that streamlines many of your core business processes (accounting/admin, sales, inventory, production, etc.) in one integrated platform. It is designed to collect and centralize all your data in one location and allow complete visibility and traceability of your operations throughout the entire supply chain.
Product
FIFO is a system where the oldest inventory (the first items added to stock) is picked, used, or sold first. This means that stock is rotated so that the oldest items are always used before newer ones, ensuring that inventory does not become obsolete or expire.
It is a regulation that harmonizes national data privacy laws throughout the EU and enhances the protection of all EU residents with respect to their personal data.
Key Performance Indicators are quantitative measures and statistics that demonstrate progress and results relative to important metrics within an organization, department, or initiative. KPIs are essential in tracking the success of goals and objectives while also providing quality data for informed decision-making.
This is a system for managing inventory where the most recently added (last) items to the stock are the first to be picked up or shipped out. Essentially, the newest inventory is used or sold first, while the older inventory remains in storage.
Key to that streamlining is optimizing warehouse operations; from order management to dispatching to fulfillment and shipping. LISA distribution WMS products are seamlessly integrated with your business management solutions and are designed to better manage your supply chain, increase your visibility, your accuracy and the efficiency of your entire warehouse.
Product
It’s a type of artificial intelligence (AI) model that uses machine learning to understand and generate human language.
It’s a shipping method where multiple shippers combine smaller shipments onto a single truck to share the cost of transportation.
Manufacturing Execution Software tracks and controls the entire manufacturing process from raw materials to finished goods. An MES collects data from machines and operators to provide real-time visibility of your shop floor. MES also helps manufacturers meet compliance and transparency requirements, while also ensuring high production quality.
Product
Material Requirements Planning is a system designed to oversee operations of your manufacturing and production preparation. An MRP calculates and tracks the stock of materials and components needed to manufacture a product, as well as schedule those materials and components for production and purchase. MRP systems are gamechangers in times of fluctuating demand and ensure cost-effectiveness for production and delivery workflows.
Product
It is the process that converts an image of text into a machine-readable text format. For example, if you scan a form or a receipt, your computer saves the scan as an image file.
Production Data Collection software serves as a shop floor companion to collect real time data on machine performance, work orders, quality, and production cycles. PDC systems are used to track process efficiency and optimize production, which in turn can reduce costs.
Product
This is the process of managing all the information required to market and sell products through distribution channels.
Refers to the systems, software, and hardware used by businesses to process sales transactions, including accepting payments, tracking inventory, and managing customer data.
Quality Assurance is a process focused measure and aims to monitor and improve operations throughout the development of products. QA is considered a proactive measure.
Products
Quality Control is a product focused process and detects mistakes and errors made after the development of final products. QC is considered a reactive measure.
Products
Quality Control is a product focused process and detects mistakes and errors made after the development of final products. QC is considered a reactive measure.
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It is a technology that uses radio waves to identify and track objects wirelessly, without needing a line of sight or physical contact.
Is both the process and documentation used in soliciting bids for potential business or IT solutions required by an enterprise or government agency.
Is a document used to solicit price bids from vendors for a specific product or service when the requirements are well-defined.
It is a technology that uses software “robots” (or bots) to automate repetitive, rule-based tasks that humans typically perform.
It is a cloud-based software delivery model where users access and use applications over the internet on a pay-as-you-go basis.
It is a German acronym that refers to a leading enterprise resource planning (ERP) software used by businesses to manage various operations.
Product
A broad field encompasses the planning, execution, and control of all activities involved in moving goods, information, and finances from raw materials to the end consumer.
It is a collection of software tools and programs provided by hardware and software vendors, allowing developers to build applications for specific platforms or systems.
It is a programming language for storing and processing information in a relational database.
It is a software platform used by businesses to manage the movement of goods throughout their supply chain. It helps with planning, executing, and optimizing the logistics of shipping and receiving, ensuring compliance, and managing documentation.
The Unit of Measure is defined as the standard units of measurements used when accounting for stock and expressing them in quantities.
It is the point of contact between humans and computers. Any technology you interact with as a user is part of the user interface.
Which encompasses all aspects of a user’s interaction with a product, service, or company.
Business Intelligence software collects and provides real time data to analyze trends, discover patterns, and generate informed decision making. With BI you can customize dashboards, create reports, run queries, and produce graphics/visuals as you need them, at the click of a button.
Products
Third-party logistics is the act of outsourcing supply chain functionality including warehousing, fulfillment, transportation and the services associated with them. 3PL allows businesses to focus on other core competencies while reducing costs and improving efficiency.
Understanding the language of technology is key to making confident, informed decisions, whether you’re evaluating new systems, onboarding team members, or optimizing your operations. We hope this acronym guide serves as a helpful resource you can refer to again and again. And if you’re ever unsure where to start, N’ware is here to help you navigate the complexity and choose the right tools for your growth.