#srm systems

Open Source: Of or relating to a product/software that is licensed to permit modifications in and redistribution of its source code.

Payroll Management: In ERP it helps process employees’ salaries based on time, attendance and other data, calculation of taxes, and generation of periodic pay checks, and tax reports.

Product Data Management (PDM): In ERP, it is used during product design to store and retrieve data to ensure information consistency throughout the life cycle of a product. It typically handles information, such as geometric models, CAD drawings, and images, as well as documents and engineering BoM, and supports approval processes and engineering change management.

Product Lifecycle Management (PLM): An ERP module that controls critical product information that must be shared with other enterprise systems, such as ERP, CRM, and SCM. PLM systems need to leverage information managed in other enterprise systems. This bi-directional connection between PLM and other systems is critical to enable a seamless flow of information among different functional groups involved in product development, particularly engineering and manufacturing.

Project Management: An ERP module most widely used by service-sector companies where a majority of operations are carried out in the form of projects. ERP Project Management systems enable project managers to effectively manage their projects with less effort. They provide managers with control and visibility throughout the project life cycle, including project planning, budgeting, forecasting costs and revenues, managing issues and change requests, tracking project status, and project performance. This module also has a central repository that maintains and categorizes all the project related files and documents and allows them to be accessed in a timely fashion.

Sarbanes-Oxley: A U.S. law intended to reinforce top management responsibilities in terms of internal audit and information circulation, including public information. It emphasizes data protection and information flow control. It requires stricter rules in computer and data security.

Shop Floor Control: Methods and systems used to prioritize, track and report against production orders and schedules. It includes the procedures used to evaluate current resource status, and update labor, machine hour and other associated information required to support planning, scheduling and costing systems.

Software as a Service (SaaS): A software delivery model in which a software firm provides daily technical operation, maintenance and support for an application provided to its clients. The application runs on the vendor’s servers and customers use it via Web browsers.

Supplier Relationship Management (SRM): A tool for strategic planning and central management of a company’s relationships with its suppliers. The aim is to closely bind all suppliers to the company and support purchasing throughout the procurement processes. SRM systems help companies realize sustainable savings by centralizing and streamlining a number of business processes, including procure-to-pay, catalog management, centralized sourcing, contract management and supplier evaluation.