Management Information Systems (MIS)

Paper Summary:

This paper examines the function of computerized management information systems (MIS) and then draws upon the literature to identify the ways in which they are used as a tool for tracking client purchases and profiles, business system operations, inventory management and other record-keeping activities found in virtually all businesses and industries in the contemporary world. It looks at how MIS support the business operations and the management of an organization and how computer and telecommunications systems and technologies have virtually revolutionized the ways in which these organizations function. It uses the financial and securities sector as an illustration of the multiplicity of tools, tasks and functions such systems can perform.

From the Paper:

"The innovations in inventory control mark a dramatic departure from the more traditional "FIFO" (first in, first out) and "LIFO (last in, first out) systems that some manufacturing industries used prior to the advent of the compact, affordable computer. Today, few manufacturing concerns of any size are without basic (And increasingly more and more complex) computerized inventory control mechanisms and systems. Many of these programs employs the basic techniques of PERT (Program Evaluation and Review Technique) and Critical Path Method (CPM) to track costs and outputs from beginning through to sale and distribution (Smykay, 1991). Though time-event networks such as PERT and CPM are more often associated with the planning and control of production itself rather than with inventory management and stocking profiles, they can be used in this arena as well. Even the warehousing and stacking of finished goods requires network planning if it is to be efficient."

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