Lead Time in Inventory Management: Meaning, Formula and Importance
What is Lead Time in Inventory Management? Lead Time in inventory management is the timespan between the order initiation time and the receipt of the
Category: ERP Blogs
What is Order Processing? Definition, Steps & Role in ERP Systems
What is Order Processing? Order processing is a systematic procedure for receiving, managing and fulfilling customer orders accurately and efficiently. The multiple steps of order
What is a Sales Order? Meaning, Process & Importance in ERP
What is a Sales Order? A sales order is a formal document that binds the supplier to fulfil the customer’s order as per agreed terms. In
What is 3PL (Third Party Logistics) & The Role of ERP in it?
What is 3PL? Third-party logistics (3PL) are specialized service providers that offer a range of logistics and supply chain services to manufacturers, such as warehousing,
Total Cost of Ownership (TCO) | Calculate & Reduce Costs
What is the Total Cost of Ownership (TCO)? Total Cost of Ownership (TCO) is a comprehensive financial assessment that considers all direct and indirect expenses
What is Return Merchandise Authorization? | Definition, Benefits And Types
What is Return Merchandise Authorization (RMA)? Return Merchandise Authorization (RMA) is a crucial process implemented by businesses to manage product returns from customers, serving as
What is Human Capital Management? | Meaning, Features And Benefits
What is Human Capital Management (HCM)? Human Capital Management (HCM) is a strategic approach that views an organization’s people as its most valuable asset and
What is Bill of Lading (BOL)? | Meaning, Benefits And Types
What is Bill of Lading (BOL)? The Bill of Lading is the proof of ownership of carriage and a legally binding contract that acts as
What is Key Performance Indicator (KPI)? | Definition, Types And Examples
What is Key Performance Indicator (KPI)? A Key Performance Indicator (KPI) synthesizes raw business data into key metrics used to measure the performance or efficiency
What is Return Material Authorization (RMA)? | Definition, Types And Benefits
What is Return Material Authorization (RMA)? Return Material Authorization (also called, Return Merchandise Authorization) is a physical or electronic document that confirms the company’s acceptance of