ERP Glossary - T: Technical Support to Transfer Pricing
Technical support is what is provided when a computer or computer program does not perform the way it is expected. Technical support typically follows a decision-tree in ascertaining the nature of the problem, and corrective action. For complex problems, replacement - when possible - is often cheaper than researching and resolving a rare problem. Support for ERP software can be implemented through formal and informal avenues.
Total Cost of Ownership
Total cost of ownership is a phrase that captures the idea that there are other costs in a software acquisition besides the initial purchase price. Annual maintenance fees, tiered licensing fees, expected upgrade frequencies, special consulting services, and hardware costs are a few - but not all - of the additional costs that accumulate over the life of a software purchase, and a true apples to apples comparison of the cost of two ERP systems would compare the total cost of ownership.
Time and Attendance
Time and attendance refers to the process of documenting how often and how long an individual works; used for computing wages, overtime, and as legal documentation. Time Management Time management is the control of how one spends time, with the goal of making certain that the most time is spent on the most important priorities, and making certain that time is not wasted dealing with unimportant or trivial things.
TQM (Total Quality Management)
Total quality management is a manufacturing philosophy in which the entire organization is focused on improving the quality of the products and operations. TQM extends far beyond the factory floor, encompassing product design, incoming supplier quality, customer feedback, and leadership practices.
Transfer pricing is the price that a company charges internally, when product is shipped between business units, legal entities, or to plants overseas. Transfer pricing can be a contentious subject, because internally, it can make one plant look very good at the expense of another plant, when the general goal of the exercise is to record profit where it makes the most sense for tax reasons.
Two-Bin Kanban is one of the simplest models of the kanban process. Its basic prinicpal is that materials can be retrieved from an 'active' bin, whilst the second is replenished.
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