What is a Management Information System?
- MIS for short
- it is an information system in which is computer-based.\
- it uses data from a transaction processing system as input to produce reports
Features of the Management Information System
- Input - uses transaction date such as bills, orders, paychecks
- Output - structured reports such as budgets, summaries, production reports
- Users - developed mainly for middle management or "tactical managers" provides them an overview of current business activities
- Capability - is able to use transaction date from all six departments of the company (R&D, Production, Marketing, Accounting and finance, HR, Information Systems )
- Multitude of Output Choices - the management information system is capable of producing several different reports such as: #*Summary Reports
- Exception Reports
- Periodic Reports
- Demand Reports
Steps required during MIS reportingEdit
- Data Retrieving
- Data Analysis
- Presentation (Pictorial View)
INVENTORY MANAGEMENT SYSTEMS; Inventory management systems are systems that help companies/businesses control their inventory. They are used to keep companies inventory cost under control and to maximize the capabilities of their order systems. Often times, inventory management systems are set to replenish automatically when products get low. This helps eliminate excess ordering of product and product shortages. By keeping products on the shelf and replenishment sources full, this will help increase profits a company makes. Inventory management systems are often utilized very often in small and large companies. One of the most used, if not the most used, inventory management system is SAP, which was started as a German based inventory system.
PAYROLL SYSTEMS; Payroll systems are systems used to compute individuals’ pay, take out deductions, and remove taxes from employees pay. The systems are also used to dispatch pay checks for employees. These systems are commonly used throughout business to make the process of payroll simpler and more accurate. Payroll systems also create reports that can be used and interpreted by mangers for tax purposes. These reports generated by payroll systems may also be distributed to federal, state, and local government, if needed.
This is a Payroll processing map.
SALES MANAGEMENT INFORMATION SYSTEMS:
Sales management systems are also called sales force automation systems or SFAs. A SFA keeps track of all stages of sales within a company. It tracks the sales process from the first call to either a win or loss in the sale. It is used to do reporting to give to managers to determine how well the company is doing. Since sales is essentially what keeps a company going, SFA systems are very important to have to be able to determine how well the company is doing and predict where it will go in the future.
Here is an example of what can be created from a SFA.
Management information system is similar to a bank and person because all information is stored within a computer and it released on command. Due to this its much easier to access and organize new information. These types of systems are mainly used for very important things that can be controlled through a computer. Such as transferring cash on to or from a card, whether it is by phone or network. Management Information Systems can also play a big role in guiding someone on the correct path of business. By being responsible and supporting/developing central management.