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May 10, 2005
7 Biz Acronyms You Should Learn ASAP
From MTM to SCES, here's the lowdown on the latest letter clusters that are headed for VIP status:
The Merriam-Webster Online Dictionary defines "acronym" as a "word (as NATO, radar or snafu) formed from the initial letter or letters of each of the successive parts or major parts of a compound term." Additionally, it's an "abbreviation (as FBI) formed from initial letters." Below are some up-and-coming letter shortcuts that we think will gain recognition in the near future (no, not quite as famous as TV or NASA, but perhaps on par with CAD, computer-aided design or CAM, computer-aided manufacturing)...
1) MTM (Multitasking machines)
In the machine-tool industry, these multitaskers--which can perform simultaneous milling and turning operations--are rising stars. While they still account for a modest portion of overall machine sales, they are making significant strides, as more users realize the benefits of single-setup machining of complex parts and as builders increase MTM functionality and ease of use, according to this Manufacturing Engineering article. Additionally, MTM technology is getting more affordable for manufacturers and clinching more widespread support from CAM software developers, says an April 2005 story from the same publication.
2) MEMS (Micro-electromechanical systems)
According to Whatis.com, MEMS "is a technology that combines computers with tiny mechanical devices such as sensors, valves, gears, mirrors, and actuators embedded in semiconductor chips." Also called analog computing or smart matter, MEMS will become a major underpinning technology in the next 10 years, says Paul Saffo of the Institute for the Future in Palo Alto, California. In fact, the technology has already gained "high mass market demand in a number of industries, from automotive to biomedical to industrial to telecommunications," according to this recent Mechanical Engineering article.
3) PLM (Product lifecycle management)
Hardly a new technology, PLM is enjoying newfound importance. According to an April 2005 IndustryWeek article, "manufacturers are slowly waking up to the fact that PLM is fast becoming a necessity." The tracking and organizing technology is proving invaluable for ensuring product compliance with relevant governmental regulations, says this Mechanical Engineering piece. Moreover, it's being used to track products as they're developed, to "manage the mountains of data surrounding engineering changes," and finally "to feed product information to enterprise resource planning (ERP) systems," points out the IndustryWeek article.
4) RNAi (Ribonucleic acid interference)
Named by Fortune as one of 10 tech trends, this new intravenous treatment has vast potential. By intercepting harmful genetic signals in diseased cells, such as those that prompt the proliferation of viruses, this form of biotechnology could help battle ailments such as AIDS, cancer, heart disease and Parkinson's. "RNAi has the potential to become a powerful therapeutic modality," Edward Tenthoff, biotech analyst of Piper Jaffray, tells Fortune. "The approach could address a broad range of disease including some that cannot be treated by traditional drug classes." And in a recent scientific breakthrough, Alnylam Pharmaceuticals in Cambridge, MA, developed a process that was able to deliver the synthetic RNA to target cells in mice, bypassing immune systems for the first time and nearly halving cholesterol levels.
5) MRFM (Magnetic-resonance force microscopy)
This technology could speed the ascent of nanotechnology, the study and manipulation of individual atoms and molecules to make novel materials, devices and systems. Hailed by Technology Review as one of 10 Emerging Technologies, MRFM could soon give scientists and engineers a 3-D view of the world of the extremely small (we're talking molecular). This hybrid of magnetic-resonance imaging (MRI) and atomic force microscopy (AFM)--which is already a popular nanotech tool--recently allowed physicists at the IBM Almaden Research Center in San Jose, CA, to discern the magnetic signal of a single electron.
6) fMRI (functional magnetic resonance imaging)
In addition to scanning for the spin of electrons, scientists are also scanning for our desires and emotional responses, scouring our brain for clues using a technology called fMRI. A recent Fortune story identifies it as one of 10 tech trends, describing the scanning technology as "essentially a $2.5 million tricked-out version of the MRI machines in hospitals" only this souped up contraption "detects the ebb and flow of blood to the brain's centers of pleasure, thought or memory." Companies such as Ford are already looking to use this technology to find out what consumers really think of their products.
7) SCES (supply-chain execution systems)
This industry veteran is gaining in functionality and thus importance in the supply chain. According to this Material Handling Management feature, today's systems "can report up-to-the-minute revenues, track minute-by-minute pick quantities, tell managers which employees are the most productive, and check supplier's inventory availability along with a host of other information needed to manage a company's supply chain." What differentiates recent systems from their predecessors is their ability to sort out the specifics, down to the floor level, meaning that companies can see the details behind the big picture.
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90 CommentsMSFM
More S**T From Management
May 10, 2005 11:54 AMinventory management:
JIT ~ Just In Time
JIC ~ Just In Case
OSWO ~ Oh Sh*t We're Out
'Tis naught but Dung!
May 10, 2005 12:05 PMOrganic Fertilizer Hitting the Ventilating Device vs you know what hitting the fan!
May 10, 2005 12:54 PMWSNAH
We Speak No Acronym Here
May 10, 2005 1:04 PMDon't fprget the ever popular WYSIWYG
What You See Is What You Get
May 10, 2005 1:20 PMHTGT
Here Today Gone Tommorrow
hwbmb: he will call me back
iwchb: I will call him back
iotdi: in order to determine if
May 10, 2005 1:30 PMLet us not forget SNAFU
May 10, 2005 1:31 PMGIGO
Garbage In Garbage Out... OH MY!
May 10, 2005 1:59 PMMost people in business acquire a dilligas (do I look like I give a ----) attitude toward acronyms. Some of the ones you included may actually stick around long enough to be useful.
May 10, 2005 2:01 PMDo you recall NIGYYSOB? (Now I've got you, you...!
May 10, 2005 2:07 PMGOMAGO
Go Man Go !!
Some of my favorites:
FUBAR: Fouled Up Beyond All Recognition
KISS: Keep It Simple Stupid
TNSTAAFL (Pronounced Tanstafal): There's No Such Thing As A Free Lunch
RTFM: Read The Friggen Manual
The industry so likes this music of acronyms that it desires us all, for loves sake, to make no more noise with it.
May 10, 2005 2:33 PMMBD,or male bovine defecation
May 10, 2005 2:46 PMInventory Terms
FIFO: First In First Out
LIFO: Last In First Out
FILO: First In Last Out
FISH: First In Still Here
MTM also is used in the industrial engineering fields it means Methods Time Measuraments is a series of trainings to get a Blue card certifications to be able to do methodolgy and measuraments of intensive labor or any quote required without the use of the old time study with a watch.You must pass test to get Blue cards for MTM-1 MTM-2 etc. Usually the time standards are within 95% accurate.
May 10, 2005 2:51 PMAs principal drafter of a proposed national (ASTM) standard on homeland security terminology, I've had to gather acronyms from all disciplines. There are now nearly 300 in the draft document.
Many acronyms and abbreviations - particularly those coined in profusion by the federal government, the military, and law enforcement -are ponderous; and some are torturous.
A few are numerical, eg:
F2F Face-to-face (of communication [slang]).
K9 (preferred; or K-9) Canine (or "canine dog" [deprecated, as tautological]).
W3 World Wide Web.
To try to stay sane, I've tried to include a few that are whimsical (although they may get thrown out when the draft goes to a committee vote), eg:
POTS Plain old (landline) telephone service [communications slang] - Not to be confused with one of my favorites,
POTUS President of the United States [White House slang]. And another favorite,
RTM Read the manual (polite contraction of "RTFM" [expletive slang]).
Some are included because they're topical, even though just plain goofy. Nominated for a Congressional Torturosity Award is:
PATRIOT Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (part of the title of the USA PATRIOT Act of 2001 and its reauthorizations).
Of course WYSIWYG is in there; and I may now have to include HTGT (for folks who have difficulty spelling "tomorrow".)
BMW Big Mouthed Whiners
May 10, 2005 3:32 PMAt my age, I think it's all a lot of BS
May 10, 2005 3:39 PMPPPPPPP
Proper Prior Planning Prevents P*** Poor Performance.
(something I see very little of now days, which means you're SOL - S*** Outta Luck)
May 10, 2005 3:44 PMHere's one of my favorite specs for prints:
MIL-TFP-41
(Make It Like the Freakin' Print For Once)
Sipe...wyhac
Speak in plain english... when you have a chance
May 10, 2005 4:40 PMAcronyms are pronounceable like a word. Abbreviations are not. Some abbreviations I like:
YCDBYSOA -- You can't do business while sitting on your #ss.
LHIQ -- Let's hope it works.
May 10, 2005 4:57 PMI don't know if I made this one up or if I saw it somewhere:
Wet McSabica: What ever the mind can see and believe, it can achieve
This one I got from a training tape:
Sniop: as in 'Were all sniop (subject to the negative influences of other people)
BTTWWADI
"Because That's The Way We've Always Done It"
Usually in a crossed out circle like 'No Smoking'.
PCMCIA ---people can't memorize complicated industry acronyms
I use www.acronymfinder.com at least 5-6 times a day.
May 10, 2005 6:51 PMI THINK THIS IS A TYPE OF ACRONYM; "THE SIX 'P' PRINCIPLE" PROPER PLANNING PREVENTS PISS POOR PERFORMANCE!!
May 10, 2005 6:55 PMTLA -- Three Letter Acronym
May 10, 2005 7:38 PMThe famous tram ride at wild animal park san diego ---WGASA
Who givea s--- anyway
CYBT
Can You Believe That?
NIC
No I Can't
May 10, 2005 8:17 PMIAATQ
I already answered that question
SHDD (Same S*it Different Day)
May 11, 2005 8:34 AMAn acronym that kicks in every summer is DWP5 - Don't Work Past 5.
May 11, 2005 4:06 PMI81. OICU812. E84O5. ICE86! E86? YE86? EBOK? G,ICEBOK. UBOK2? LIB. UCDB? LMNOB. OSAR! AR/U! CM?
TFTHINT ...... thanks for the humor, I needed that!
May 12, 2005 11:34 AMBOHICA - Bend Over .... Here It Comes Again
May 12, 2005 4:14 PMYears ago, one military program proceeded successfully, but didn't have an official name. A junior officer asked the senior officer in charge what they should call the program. The senior officer passed the buck and said, "It's your call, take charge and move out!"
The program was later called TACAMO.
S*IT - Super High Intensity Training
May 13, 2005 9:13 AMLOL....I remember FUBAR From the Military as well
as FM which is F****** Magic. I guess the best
Acronym is TGIF!!!!!!!!!!!!!!
MBSDD: Master of Back Stabbing & Dirty Dealing
May 20, 2005 1:23 PMWWJD?
June 9, 2005 6:17 AMC**T......Can't Understand Normal Thinking
June 12, 2005 10:40 PMVery interesting point of view
August 25, 2005 12:46 AM
