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
Category: ERP Blogs
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
What is Demand Driven Material Requirements Planning (DDMRP)? | Meaning, Process And Benefits
What is the Demand Driven Material Requirements Planning (DDMRP)? Demand Driven Material Requirements Planning (DDMRP) is an evolution of the traditional MRP methodology that acts
What is Safety Stock Formula? | Definition, Importance And Formula
What is Safety Stock? Safety stock is the extra stock available with manufacturing companies to meet surges in market demand and counter delays in the
What is a Work Order? | Definition, Benefits And Examples
What is Work Order? A Work Order is a comprehensive digital document that provides a detailed roadmap and information pertaining to different tasks that are
What is Digital Supply Chain Management? | Definition, Benefits And Stages
What is Digital Supply Chain Management? Digital Supply Chain Management establishes a network of inter-connected systems and adopts digitization to automate supply chain operations and