This page provides answers to some of the Industry Terminology.
Q: What is ERP?
A: Short for enterprise resource planning, a business management system that integrates all facets of the business, planning, operations, sales and marketing. As the ERP methodology has become more popular, software applications have emerged to help business managers implement ERP in business activities such as inventory control, order tracking, customer service, finance and human resources.
Learn more about ERP
Q: What is CRM?
A: CRM stands for Customer Relationship Management. It is a strategy used to learn more about customers' needs and behaviors in order to develop stronger relationships with them.
Learn more about CRM
Q: What is SFA?
A: SFA stands for sales force automation. It includes all of the technologies,
techniques, and strategies used to build successful sales, bring together your
customers and improve communications and productivity. Customer resource management, for
example, would be categorized under this.
Learn more about CRM
Q: What is SCM?
A: SCM stands for supply chain management. It is the process of
optimizing the shipment of goods and services from supplier to customer. The
goals of SCM are to optimize production, decrease manufacturing time, minimize inventory, streamline order fulfillment
and reduce cost.
Learn more about SCM
Q: What is BPEL?
A: BPEL stands for business process executive language. It is a notation for specifying business process behavior based on Web Services
Learn more about BPEL
Q: What is RFID?
A: RFID stands for radio frequent identification. It is a wireless system used to identify
tags, which may be carried by people, animals, or objects. The tags are non-contact and
non-line-of-sight, and the RFID system will identify you without any necessary
action.
Learn more about RFID
Q: What is UNSPSC?
A: UNSPSC (United Nations Standard Products and Services Code) is an open, global electronic commerce standard that provides a logical framework for classifying goods and services. It is designed to serve three key functions:
Learn more about ERP and SCM Implmentation
Q: What is SIC Code?
A: SIC Code stands for standard industrial classification codes. They are four digit numerical codes assigned
by the government to business establishments to identify the primary business of the
establishment. The classification was developed to facilitate the collection,
presentation and analysis of data; and to promote uniformity and comparability
in the presentation of statistical data collected by various agencies of the
federal government, state agencies and private organizations.
Learn more about SIC Code and Industries
Q: What is NAICS Code?
A: NAICS Code stands for the North American Industrial Classification System code, which classifies industries using 2-, 3-, 4-, 5-, and 6- digit levels of detail. Two-digit codes represent sectors, the broadest classifications. Six-digit codes represent individual industries in the U.S. NAICS was developed by representatives from the United States, Canada, and Mexico, and replaces each country’s separate classification system with one uniform system for classifying industries. In the United States, NAICS replaces the Standard Industrial Classification (SIC) Code.
Learn more about NAICS Code and Industries
Q: What is NACE Code?
A: NACE stands for "Nomenclature Generale des Activites Economiques dans I`Union Europeenne" (General Name for Economic Activities in the European Union) and is based on the European standard for industry classifications. The first four digits of the code are the same in all European countries. The fifth digit might vary from country to country and further digits are sometimes placed by suppliers of databases.
The 16 markets (manufactures, agriculture, etc.) are denoted by letters form A to Q.A further 59 principals groups have been given two-digit NACE-codes, which can then be subdivided into 640 individual groups (four-digit NACE-codes).
Learn more about NACE Code and Industries
Q: What is B2B?
A: B2B stands for Business to Business and also for relations between enterprises. This term is often used to describe websites that sell goods or services to other businesses. Thus, businesses are serving other businesses as opposed to consumers.
Learn more about B2B and CRM
Q: What is B2C?
A: B2C stands for Business-to-consumer and it describes activities of commercial organizations serving the end consumer with products and/or services.
Learn more about B2C and CRM
Q: What is EDI?
A: EDI stands for Electronic Data Interchange. It is the computer-to-computer exchange of structured information, by agreed message standards, from one computer application to another by electronic means and with a minimum of human intervention. In common usage, EDI is understood to mean specific interchange methods agreed upon by national or international standards bodies for the transfer of business transaction data, with one typical application being the automated purchase of goods and services.
Learn more about EDI
Last Updated: Thursday, February 16, 2012; at 12:43:37 PM
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