Glossary
A
Additive manufacturing
Process by which digital 3D design data is used to build up a component in layers by depositing material, for instance in the form of fine powder.
AKO
Abbreviation of “Aftermarket Kitting Operation”: project to establish a state-of-the-art assembly and packaging center.
Automotive Aftermarket
With its Automotive Aftermarket division, the Schaeffler Group is represented worldwide in the spare parts business, offering both products and services.
Automotive Technologies
In the Automotive Technologies division, the Schaeffler Group offers expertise as a reliable partner to nearly all automotive manufacturers and important suppliers for the complete drive train – for the motor, transmission, chassis, and auxiliary units in passenger vehicles and commercial vehicles.
B
by-Wire-Technology
Allows for safe and reliable vehicle steering by purely electronic means.
C
CDP
Abbreviation of (formerly) “Carbon Disclosure Project”: non-profit organization that evaluates and provides corporate information for investors, companies and governments in the areas of climate, water and forests.
Charta der Vielfalt (Diversity Charter)
Corporate initiative to support diversity in companies and institutions. Organizations should create a working environment that is free of prejudice. All employees should feel valued – independent of their sex, nationality, ethnic origin, religion or world view, disability, age, or sexual orientation and identity.
CHM
Abbreviation of “Corporate Health Management”.
CHP
Abbreviation of “combined heat and power plants” or cogeneration plants.
CMS
Abbreviation of “Compliance Management System”.
CoC
Abbreviation of “Code of Conduct”: code that defines rules for employees and typically includes directives and prohibitions that companies – in this case the Schaeffler Group – impose on themselves or accept.
Compliance
Ensuring that all rules and regulations applicable to a process are adhered to.
Corporate Governance
Set of legal and constructive requirements for the management and supervision of companies.
CSR
Abbreviation of “Corporate Social Responsibility”: describes the social responsibility of a company.
CSR Directive Implementation Act
(German: “Richtlinie-Umsetzungsgesetz”); law on strengthening companies’ nonfinancial reporting in management reports and group management reports.
D
Diversity
Diversity with respect to aspects including gender, ethnic origin, age, disability, sexual orientation, and religion.
E
E-mobility
Abbreviation of “electric mobility”: mobility that is powered by electricity. This includes electric and hybrid vehicles. Ranging from high-voltage hybrid modules and electric axles through to wheel hub motors – the Schaeffler Group offers a broad range of products for the age of electrified powertrain architectures
EHS
Abbreviation of “Environment, Health, and Safety”.
EMAS
Abbreviation of “Eco-Management and Audit Scheme”: community eco-management and audit scheme setting out requirements under which Schaeffler Group locations are validated.
EnEHS
Abbreviation of “energy, environment, health and safety”.
G
GCRC
Abbreviation of “Group Compliance and Risk Committee”: The Schaeffler Group’s centralized committee responsible for coordinating the flow of information about risks throughout the organization.
Gender
Social dimension of gender. Refers to the culturally specific and historically variable roles, expectations, values, and orders associated with the respective gender.
GKAM
Abbreviation of “Global Key Account Management”: responsible at Schaeffler for expanding customer relationships worldwide according to uniform principles.
GNFK
Abbreviation of “Separate non-financial group report” (German: “Gesonderter nichtfinanzieller Konzernbericht”): refers to the reporting option according to the CSR Directive Implementation Act Sections 289, 315 German Commercial Code.
Green Schuldschein
To finance or refinance projects related to clean transportation, Rrnewable energy, eco-efficient and/or circular economy adapted products, production technologies and processes, and energy efficiency.
GRI
Abbreviation of “Global Reporting Initiative”: an organization founded in 1997 that uses a participatory procedure to develop criteria for the preparation of sustainability reports.
GWh
Abbreviation of “Gigawatt-hour”.
I
IATF 16949
Global norm for quality management systems of companies in the automotive industry.
IDW AsS 980
Standard for auditing compliance management systems.
Industrial
Division of the Schaeffler Group that includes the business with customers in the mobility, production machinery, energy and raw materials, and aerospace sectors.
Industry 4.0
Refers to the integration of industrial production with state-of-the-art information with communications technology.
ISO 14001
Globally recognized standard for environmental management systems.
ISO 27001
Globally valid norm for data protection management systems.
ISO 50001
Globally valid norm for energy management systems.
ISO 9001
Globally valid norm for quality management systems.
K
KPI
Abbreviation of “Key Performance Indicator”: performance indicator that measures the progress or the degree of achievement of key objectives.
L
LTIR
Abbreviation of “Lost Time Injuriy Rate”: standard key figure to record accidents at work; defined as occupational accidents from one lost day per 1 million hours worked.
M
Modern Slavery Act
British law on reporting obligations regarding the avoidance of human trafficking and forced labor in the supply chain.
N
NAP
Abbreviation of “National Action Plan for Business and Human Rights”: initiative of the German federal government to respect human rights in global supply chains, based on the UN Guiding Principles for Business and Human Rights.
NGO
Abbreviation of “Nongovernmental Organization”.
O
OECD
Abbreviation of “Organisation for Economic Co-operation and Development”: international organization with 35 member states committed to democracy and a market economy.
OPTIME
OPTIME is a condition monitoring solution designed for comprehensive condition monitoring across entire mashine and equipment parks at any time.
R
RCOI
Abbreviation of “Reasonable Country of Origin Inquiries”: screening of the country of origin of raw materials or minerals used, in order to prevent the extraction of these raw materials from contributing to the financing of armed conflicts.
R&D ratio
Research and development expenses as a percentage of revenue.
REPXPERT
Part of the Automotive Aftermarket division; offers numerous services covering every aspect of products and repair solutions.
Roadmap 2025
In order to continue the transformation of the Schaeffler Group, the corporate strategy was furhter developed in 2020. The Roadmap 2025 is thus the successor to the strategic concept “Mobility for tomorrow” released in 2016.
S
Schaeffler Academy
Schaeffler Academy combines all personnel development activities at Schaeffler worldwide. It supports strategic corporate objectives, promotes a culture of lifelong learning, and enables employees to achieve their personal and professional goals.
Schaeffler Value Added
Central indicator for value-based management, which compares earnings before interest and taxes with the cost of capital.
SCoC
Abbreviation of “Supplier Code of Conduct”.
Scope 1 emissions
Emissions that come from emissions sources within the considered organization (e.g., from power plants or vehicle fleets belonging to the company).
Scope 2 emissions
Emissions that arise from energy production outside of the organization (e.g., from district heating).
Scope 3 emissions
All other emissions caused by the company’s activities but not under a company’s control (e.g., by suppliers).
SDGs
Abbreviation of “Sustainable Development Goals”: The United Nations’ 17 goals for sustainable development, intended to help secure sustainable development on the economic, social, and ecological level.
SEHS
Abbreviation of “Sustainability, Environment, Health and Safety”: This department is part of the Human Resources function and is, among other things, responsible for sustainability management at Schaeffler.
Sustainability SAQ
Abbreviation of “Self-Assessment-Questionnaire”: a questionnaire aiming succesively improving the sustainability performance of suppliers.
System 48-Volt
Schaeffler’s 48 Volt hybrid module (mild hybrid) facilitates the introduction of hybridization and offers attractive potential for reducing CO2. The disc-shaped, compact hybrid module for electrifying vehicles with manual transmissions is mounted as one unit between the engine and the transmission. The module requires neither changes to the transmission nor a water cooling system. Power can be recuperated by braking
T
TCFD
Abbreviation of “Task Force on Climate-related Financial Disclosures”: Expert commission of the G20 Financial Stability Board, developing reporting guidelines for climate-related risks.
Three Lines of Defense Model
Model assigning clear responsibility for dealing with risks to the company’s continued existence or development and based on the principle that primary responsibility for a risk lies with its originator.
TISAX
Abbreviation of “Trusted Information Security Assessment Exchange”: standard for information security defined by the automotive industry.
U
UNGC
Abbreviation of “United Nations Global Compact”: The worldwide largest initiative for responsible corporate management, with around 13,000 companies and organizations from the public, political, and academic sector in 170 countries. Following ten universal principles, it pursues an inclusive and sustainable world economy for the benefit of all people, communities, and markets.
V
Vj.
Abbreviation of “previous year” (German: “Vorjahr”).