Nahaufnahme einer CNC-Maschine, die in einen Metallblock bohrt, mit sichtbaren Löchern und Metallspänen, in einer industriellen Umgebung.

Glossary: Klöckner & Co

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Agile working methods

Agile project management offers a wealth of different ways to shape work processes, such as scrum, kanban and design thinking. These methods entail constant change and the ability to adjust rapidly. Teams make decisions quickly and autonomously, which leads to short planning and implementation cycles – and that in turn spells direct agile adjustments for the market or the processes.

Application Programming Interface (API)

Generic term for interfaces for exchanging digital information. Often also used to refer to web services (see web service). The Klöckner & Co API connects the online store with third-party systems, for example, and automates the ordering process.

Application (App)

An application (app) or application software is a software program for mobile devices that serves a specific user-related purpose.

Artificial Intelligence (AI)

In general, artificial intelligence (AI) is understood to mean software systems that are able to automate processes through permanent self-learning processes and continuous self-optimization. Klöckner & Co uses AI, for example, for the digital application Kloeckner Assistant.

ARUG II

Act Implementing the Second Shareholders' Rights Directive (ARUG II) of December 12, 2019; published in the Bundesanzeiger (BGBl I 2019, p. 2637).

Asset-Backed Securitization Programs (ABS Programs)

Group finance programs under which Klöckner trade receivables are converted into cash. Asset-backed securities are generally issued by a special-purpose entity, which are collateralized by an asset portfolio (i.e., Klöckner trade receivables). Within the program specified trade receivables are sold to special-purpose entities that are established for this purpose. The sole purpose of the special-purpose entities is to purchase receivables of Klöckner Group companies and to  refinance such purchases by issuance of securities. As the programs do not meet criteria under the respective accounting standards, the legally transferred receivables are not derecognized from the Group’s balance sheet, but the funds received are presented as loans due to the purchasers of the receivables.

Asset-Based-Lending

Loan agreement under which the credit default risk is secured by the lender’s assets (generally accounts receivable, inventory or property, plant and equipment).