Author: admin in: Quick Tips
Tutorials

OnRamp ERP Acronyms and Shortcuts

October 29, 2021

OnRamp ERP uses industry-standard acronyms throughout the software and are described below. You can also download the Acronym Cheat Sheet here.

APQP – Advanced Product Quality Planning, or APQP, is a framework of procedures and techniques used to develop products in the automotive industry.

A/P – Accounts Payable, or AP, refers to the money a company owes its vendors for goods and services that have been provided and for which the vendor has submitted an invoice.

A/R – Accounts Receivable, or AR, refers to the money your customers owe for goods or services they have received but not yet paid for.

ASN – Advance Ship Notice, or ASN, is a notification of pending deliveries, similar to a packing list. It is usually sent in an electronic format and is a common EDI document.

BM – Business Model, or BM, describes how an organization creates, delivers, and captures value.

BOL – Bill of Lading, or BOL, works as a receipt of freight services, a contract between a freight carrier and shipper and a document of title.

BOM – Bill of Material, or BOM, is a list of parts required to build another part.

CEC – Consumer Electronics Control, or CEC, is a feature of HDMI designed to allow users to command and control devices connected through HDMI.

CNC – Computer Numerical Control, or CNC, s the automated control of machining tools by means of a computer.

COBRA – Consolidated Omnibus Budget Reconciliation Act of 1985, or COBRA, is a law passed by the U.S. Congress that mandates an insurance program which gives some employees the ability to continue health insurance coverage after leaving employment.

DAQ – Data Acquisition Queue quantity.

DCPDetailed Capacity Planning, or DCP, is a capacity and manpower forecasting tool.

DSR – Document Storage Retrieval.

EAU – Estimated Annual Usage, or EAU, is the estimated amount of usage that a tool, fixture, or work center received per year.

ECN – Engineering Change Notice, or ECN, is a document authorizing and recording design changes throughout the prototyping and life-cycle phases of a product. ECN documentation contains the justification for changes made to a component or system once the initial design is complete.

EDI – Electronic Data Interchange, or EDI, is the electronic interchange of business information using a standardized format; a process which allows one company to send information to another company electronically rather than with paper.

EEO – Equal Employment Opportunity, or EEO, is a US federal initiative that makes it illegal to discriminate against a job applicant or an employee because of the person’s race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), national origin, age (40 or older), disability, or genetic information.

EOQ – Economic Order Quantity, or EOQ, is the optimum quantity of goods to be purchased at one time in order to minimize the annual total costs of ordering and carrying or holding items in inventory. EOQ is also referred to as the optimum lot size.

ERP – Enterprise Resource Planning, or ERP, is a method to plan for what resources the enterprise will require to ensure customers are supplied. It has been become synonymous with the ERP software suite which is used to help you better manage your enterprise resources.

EVA – Economic Value Added, or EVA, is a measure of a company’s financial performance based on the residual wealth calculated by deducting its cost of capital from its operating profit, adjusted for taxes on a cash basis. EVA can also be referred to as economic profit, as it attempts to capture the true economic profit of a company.

FMEA – Failure Mode and Effects Analysis, or FMEA, involves reviewing as many components, assemblies, and subsystems as possible to identify failures, and their causes and effects.

GL – General Ledger, or GL, is a bookkeeping ledger in which accounting data is posted from journals and from subledgers, such as accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects.

ISA – The Interchange Control Header, or ISA, is the first segment in an X12 EDI data transaction. Just like the addresses located on a piece of mail, the ISA segment contains sender and receiver information.

JIT – Just In Time, or JIT, is an inventory management method in which goods are received from suppliers only as they are needed.

KPI – Key Performance Indicator, or KPI, is a measurable value that demonstrates how effectively a company is achieving key objectives.

LOHLabor and Overhead, or LOH, refers to the ongoing business expenses not directly attributed to creating a product or service.

LPA – Layered process audit, or LPA, is a quality technique that focuses on observing and validating how products are made, rather than inspecting finished products. LPAs are not confined to the Quality Department, but involve all employees in the auditing process.

LS – Line Sequencing, or LS, is the process of transmitting your daily production schedule via Electronic Data Interchange.

LT – Lead Time, or LT, is the latency between the initiation and execution of a process. For example, the lead time between the placement of an order and delivery of a new car from a manufacturer may be anywhere from 2 weeks to 6 months.

MDR – Material Deficiency Reports, or MDR, are reports filled out to describe item issues that are returned to you, or by you to a vendor.

MMC – Maximum Material Condition, or MMC, is a feature of size symbol that describes the condition of a feature or part where the maximum amount of material (volume/size) exists within its dimensional tolerance.

MMD – Machine Monitoring Device, or MMD, is a device that connects a machine to the central database, allowing it to be monitored while simultaneously displaying relevant information, via computer monitor, to the machine operator, such as work order detail, or downtime reason.

MRPMaterial Requirements Planning, or MRP, is a production planning, scheduling, and inventory control system used to manage manufacturing processes.

MSA – Measurement System Analysis, or MSA, are tests used to determine the accuracy of measurements.

MSDS – Material Safety Data Sheet, or MSDS, are documents that list information relating to occupational safety and health for the use of various substances and products.

MSF – Measurable Success Factor, or MSF, is the measurable targets of the SBA. For example, for a supply chain SBA to reduce warehouse costs, the MSF could be to increase inventory turnover by 15%.

MTR – Material Test Reports, or MTR, certifies that the chemical analysis and mechanical properties are in conformance with the desired specification.

NCR – Non-Conformance Report, or NCR, is a report created by a work center operator or inspector that has detected an issue with the quality of a part that requires further action be taken to resolve the issue. NCRs are created after a defect has been found with purchased parts or due to manufacturing.

OEE – Overall Equipment Effectiveness, or OEE, is a measure of how well a manufacturing operation is utilized compared to its full potential, during the periods when it is scheduled to run. It identifies the percentage of manufacturing time that is truly productive. An OEE of 100% means that only good parts are produced, at the maximum speed, and without interruption.

PM – Preventive Maintenance, or PM, is the regular and routine maintenance of equipment and assets in order to keep them running and prevent any costly unplanned downtime from unexpected equipment failure.

PO – Purchase Order, or PO, is a document detailing the first official offer issued by a buyer to a seller indicating types, quantities, and agreed prices for products or services.

PPAP – Production Part Approval Process, or PPAP, is used to establish confidence in vendor production processes. To do this, the PPAP ensures vendor parts meets QA requirements, ensures the vendor understands requirements, and shows that the vendor can consistently meet production requirements.

PPM – Parts Per Million, or PPM, is a measure of quality performance. 1 PPM means one defect in a million parts, or 1/1,000,000.

PS – Packing Slip, or PS, is a document that is included in the shipment of goods to alert the customer to the items and quantity included in the shipment.
QAQuality assurance, or QA, is a way of preventing mistakes and defects in manufactured products and avoiding problems when delivering products or services to customers. It is part of the quality management process and focuses on providing confidence that quality requirements will be fulfilled.

RFP – Request for Proposal, or RFP, is a request for bids to complete a new project proposed by the entity that issues it.

RFQ – Request for Quotation, or RFQ, is a request for quotes for defined products or services for a new project underway by the entity that issues it.

RMA or RGA – Return Material Authorization, or RMA, is a part of the process of returning a product to receive a refund, replacement, or repair during the product’s warranty period.

RTV – Return to Vendor, or RTV, is an instruction authorizing the return of unwanted or damaged goods to the seller, the cost of which will then be refunded to the buyer.

SBA – Strategic Business Accomplishments, or SBA, is the intended goals of the project. Example: A supply chain SBA could be to reduce warehouse costs.

SME – Subject Matter Expert, or SME, is a person that is an expert in a certain area, or matter, within the company. SME may also refer to Small and Medium-sized Enterprises.

SO – Sales Order, or SO, is a document generated by the seller specifying the details about the product or services ordered by the customer.

SPC – Statistical Process Control, or SPC, is an industry-standard methodology for measuring and controlling quality during the manufacturing process.

SWIFT – SWIFT code stands for Society for Worldwide Interbank Financial Telecommunication code. A SWIFT code, or SWIFT number, is a standard format for Business Identifier Codes (BIC). It’s used to identify banks and financial institutions globally. It says who and where they are. It is a type of international bank code or ID.

UM or UOM – Unit of Measurement

WC – Work Center, or WC, is a location where a production activity is performed on a part. Resources, such as operators and machines, are linked to a work center and used as a functional planning unit.

WIP – Work in Progress or Work in Process, or WIP. Work in Progress describes the costs of unfinished goods that remain in the manufacturing process and is used in accounting. Work in Process refers to materials that are turned into goods within a short period.

WO – Work Order, or WO, is a document given by the planner to the shop floor to indicated that a certain quantity of a certain part needs to be made.

Shortcuts

Here are some easy to remember shortcuts to help improve your OnRamp ERP navigation.

Leave a Comment

pattern

Let Our Experts Answer Your Questions

For more information about how OnRamp ERP software can add value to your business fill in the contact form below. A member of our support team will contact you within 1 business day to discuss any questions you have.

    or call us now!
    +1 (905) 901-5020

    Start the collaboration with us while figuring out the best solution based on your needs.

    Head Office : 10114 ON-26 Unit 2, Collingwood, ON L9Y 3Z1 , info@onramp-solutions.com
    Location Icon
    View on Google map