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Advantages of MIS

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Advantages of MIS

  1. 1. MANAGEMENTINFORMATIONSYSTEMS (MIS):ADVANTAGESPresentation for honorary:Board of Directors (BOD)Presentation byMihir Busa
  2. 2. Management Information Systems (MIS)• MIS stipulates managers with information and support for effective decision making along with delivering feedback on daily operations• Output or reports are usually generated through accumulation of transactions processing data• Each MIS is an integrated collection of subsystems, which are typically organized along functional lines with an organization By Mihir Busa 2
  3. 3. Intended Benefits of MISMIS investments pays off in several different ways:• Core competency support• Enhanced distribution channel management• Increasing brand equity• Boosting production processes• Impact mass customization production processes• Leverage learning curve advantages• Leverage IT investment in computer aided design• Leverage stability with efficiency• Expand existing business and add ecommerce• Improve B2B commerce and relationship By Mihir Busa 3
  4. 4. FIVE ELEMENTS OFMIS USABILITY• Timeliness• Accuracy• Consistency• Completeness• Relevance Please see see following illustrations for further explanationBy Mihir Busa 4
  5. 5. By Mihir Busa 5
  6. 6. Outputs of a MIS Scheduled Reports Key Indicator Reports MIS Demand Reports Exception Reports By Mihir Busa 6
  7. 7. Outputs of a MIS (continued)• Scheduled Reports a) Produced periodically or an a schedule (daily, weekly, monthly or quarterly)• Key Indicator Reports a) Summarized the previous day’s critical activities b) Typically available at the beginning of each day• Demand Reports a) Gives certain information at any Authority’s request• Exception Reports a) Automatically produced when unusual situation arises or requires action from Management By Mihir Busa 7
  8. 8. Characteristics of a well planned MIS• Provides reports with fixed, standard and custom formats a) Hard-copy (official print outs) as well as soft-copy for electronic distribution (email, Desktop-Faxing or even publishing on/offline)• Utilization of crucial Internal Data stored on the network a) Standard Network Encryption option b) Provision for Local Hard Disk Access (functionality of Synchronization)• End Users can also develop custom reports• Requires formal requests from users a) Which can be logged for back tracking in future By Mihir Busa 8
  9. 9. MIS for Competitive Advantage• Provides supports to Managers as they work to achieve corporate goals per Manufacturing / Sales / Marketing / Strategic• Enables Managers to compare results to established company goals and identify problem areas as well as opportunities for improvements• Enables auto-alerts when problems areas arises and further flagging, prompting and demanding immediate action to resolve• Enables auto-alerts when opportunities areas are discovered By Mihir Busa 9
  10. 10. MIS and Web (online) Technology• Data and reports may be set from Management Information System on company’s secure intranet (network) for access• Employees can utilize frontend program UI or built-in web browser on their Desktop / Laptops / Tablets / Smartphones to login and gain secure access to that same data• Increases: • Productivity, • Collaboration, • Team work synchronization and • Turn over time for business transactions By Mihir Busa 10
  11. 11. Functional Aspects of MIS• Management Information System is an integrated collection of functional information systems combined, along with each individual supporting functional areas• Including: • Business Transactions, • Transactions Processing Systems (TPS), • Primarily from 2 sources: Internet and Extranet • Databases Input for validity checks, • Funneled through following modules: • Financial MIS > Accounting MIS > Marketing MIS > Human Resources > etc. • And then finally Various Reporting for same By Mihir Busa 11
  12. 12. Financial MIS• Provides financial information to all Financial Managers within an organization• Including Senior ManagementComplete with: Financial Data Security Standard (DSS) and Financial Enterprise Solutions (ES) Please see see following illustration for further explanation By Mihir Busa 12
  13. 13. By Mihir Busa 13
  14. 14. Inputs to the Financial Information System• Execution of Strategic plan or Corporate Policies a) Preceding of major financial objectives and often projects financial needs• Transaction Processing System (TPS) Integration such as a) Critical financial information collected from almost all TPS, consisting of Payroll, Inventory Control, Order Processing, Accounts Payable, Accounts Receivable and General Ledger (book-keeping) b) External Sources c) Annual Reports and Financial Statements implementation By Mihir Busa 14
  15. 15. Financial MIS Subsystems and Outputs• Financial Subsystems consisting of: a) Profit & Loss b) Cost of Goods Systems c) Overhaul Auditing d) Internal Auditing e) External Auditing f) Funds Allocations g) Funds Management h) Spending Forecasting i) Future Projections and j) Detail Reporting: Monthly, Quarterly and Yearly By Mihir Busa 15
  16. 16. Manufacturing MIS• Fundamentals: Strategic plan or Corporate Policies• The complete TPS again: Order Processing Inventory Data Data Reception and Inspection Personal Data Verification Check Production Processes• Consideration of External Sources Please see see following illustration for further explanation By Mihir Busa 16
  17. 17. By Mihir Busa 17
  18. 18. Manufacturing MIS Subsystems and Outputs• Design and Engineering• Master Production Scheduling• Inventory Control• Manufacturing Resource Planning• Just-in-Time (JIT) Inventory and Manufacturing• Process Control• Computer-integrated Manufacturing (CIM) which allows• Computer-aided Design (CAD)• Quality Control and Testing By Mihir Busa 18
  19. 19. Marketing MIS• Supports managerial marketing activities including product development, distribution, pricing decisions, product planning, product life-cycling and promotional effectiveness Please see see following illustration for further explanation By Mihir Busa 19
  20. 20. By Mihir Busa 20
  21. 21. Inputs to Marketing MIS• Strategic Planning and Corporate Policies• Specific TPS for Marketing• External Sources: The competition The market By Mihir Busa 21
  22. 22. Marketing MIS Subsystems and Outputs• Marketing Research Support• Product Development Support• Product Planning & Life Cycle Support• Promotion and Advertising Support• Product Pricing Support By Mihir Busa 22
  23. 23. Human Resource MIS• Integration to all of the activities related to employees and potential employees of the organization• Enables employees monitoring with proper managerial reporting, track records assisting in further performance assessment Please see see following illustration for further explanation By Mihir Busa 23
  24. 24. By Mihir Busa 24
  25. 25. Inputs to Human Resource MIS• Strategic Planning and Corporate Policies• Specific TPS for HR: Payroll Data Secure Storing Order Processing Data Funneling Personal Data Secure Storing• External Sources By Mihir Busa 25
  26. 26. Human Resource MIS Subsystems and Outputs• Human Resource Planning• Personnel Selection and Recruiting support• Training and Skills Management• Scheduling and Job Placement support• Comp, Wages, Commissions and Salary Management and Administration• Streamlined Payroll system setup• Organization Restructuring support By Mihir Busa 26
  27. 27. Other MIS• Accounting MISProvides aggregated information on accounts payable,accounts receivable, including payroll integration andother applications such as: • Cost of Goods and Operation Costs calculation • Sales and Revenue forecasting Reports • Shipping, ecommerce, collections support • Taxation: daily, monthly, quarterly and yearly • Integrations with other Management Information Systems forming cluster reporting and querying specially for BOD (risk takers) and auditors By Mihir Busa 27
  28. 28. Example of current MIS: SageOne Source: http://na.sage.com By Mihir Busa 28
  29. 29. Source: http://na.sage.com By Mihir Busa 29
  30. 30. Source: http://na.sage.com By Mihir Busa 30
  31. 31. Conclusion• To sum up, Senior Management / BOD would gain accurate control by improving overall business transactions while supporting Timeliness; Accuracy; Consistency; Completeness and Relevancy factors.• Assists in Senior Management / BOD decisions to achieve defined goals within an established time period• Improved basically MIS helps streamline and places organization to track of success and efficiency. This completes presentation convincing the BOD, many advantages of MIS by highlighting specific initiatives that MIS can address. Thank you. By Mihir Busa 31

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