What is Just-in-Time (JIT) Inventory Management?
Just-in-Time inventory, commonly referred to as JIT, is an inventory management strategy in which raw materials arrive as soon as production is scheduled to begin but no sooner. The goal is high-volume production with minimal inventory on hand to meet demand and eliminate waste. What is Just-in-Time (JIT) Inventory Management? – YouTube
What is Warehouse Management?
Warehouse management involves the principles and processes around running day-to-day warehouse operations, including: organizing the warehouse space, receiving items, scheduling labor, fulfilling orders and tracking inventory as it moves throughout the warehouse. Effective warehouse management optimizes and integrates these processes to increase productivity and lower costs within the warehouse. What is Warehouse Management? – YouTube
What is Order Management?
Order management includes all the processes involved in taking, receiving, tracking and fulfilling a customer order. The process starts once an order is placed and continues as the merchant receives, accepts and fulfills the order. This includes picking, packing and shipping the order, tracking the order until it reaches the final destination, and then fulfilling […]
What is NetSuite Customer Relationship Management (NetSuite CRM)?
NetSuite customer relationship management (NetSuite CRM) is a centralized repository of real-time customer information and data that’s seamlessly integrated with the rest of NetSuite. It provides visibility across the entire customer lifecycle—from lead all the way through opportunity, sales order, fulfillment, renewal, upsell, cross-sell and support. In addition to offering traditional CRM capabilities (such as […]
What is Distribution Management?
Distribution management organizes everything needed to get the right product to the right buyer at the right time. It tracks the movement of goods from supplier to manufacturer to wholesaler or retailer and finally to the end consumer. Therefore, it includes processes and activities around raw good vendor management, packaging, warehousing, inventory, supply chain and […]
What is Supply Chain Management (SCM)?
Supply chain management (or SCM) encompasses all of the processes involved in acquiring and converting raw materials into finished goods as well as fulfillment and support. Effective supply chain management can prevent disruptions along the supply chain and help businesses meet demand in the most efficient way, ultimately delivering a positive customer experience. What is […]
What is Financial Management?
Financial management is the process of creating a budget that supports the long-term plans for a business and informs decisions on where and how to invest funds around things like hiring, paying suppliers, research and development and other important initiatives. Effective financial management helps a business operate more smoothly by boosting profitability, maintaining cash runway, […]
What is Customer Relationship Management (CRM)?
Customer relationship management, or CRM, technology helps create, store, automate and optimize customer and prospect data. A CRM system is a shared platform that enables sales, marketing and customer service teams to conduct business more effectively, providing visibility into the same information across each touchpoint of the customer journey. Ultimately, a CRM solution helps businesses […]
What Is a Human Resources Management System (HRMS)?
A human resources management system (or HRMS) is a set of software applications that support and automate HR processes throughout the employee lifecycle, including: payroll, timecards, taxes, employee development, performance reviews, benefits, compliance and more. An HRMS allows companies to manage many people-related activities in one place, increasing efficiency and enabling business leaders to better […]
What is Human Capital Management (HCM)?
Human Capital Management, or HCM, is a set of practices and processes a business uses to acquire, develop and optimize its workforce. It plays an essential role in helping HR managers and executives make crucial decisions around workforce costs and future workforce needs as well as promotions, training and HR operations. HCM improves the business […]
