IMPORTANCE OF MIS Management information system is nowadays the most important element of an organization to work effectively and efficiently. It is set of interrelated components which collect, process, store and distribute the information to a support decision making in an organisation. MIS are distinct from other information systems as they are used for analysis and facilitation of strategic and operational activities. The major components of a MIS are: 1) Hardware 2) Software 3) Data 4) Procedures 5) People MIS caters across all the functional business processes of an organization: Process Functions Manufacturing and production Assembling product, quality check, BOM Sales and marketing Identify customers, awareness/selling of product …show more content…
As a better flow of information helps in a better and timely manufacturing/handles inventory/distribution/deliveries. 2) CRM- Customer relationship management is also enhanced by a proper ERP system installed in an organisation. As it helps in feedbacks from customers/ marketing/sales force automation. (It focuses on “customer satisfaction”) ERP helps and supports centralization by enforcing uniform data standards and business processes throughout a company and a single unified technology platform. ERP systems can be either; Customised or Configured Leading ERP software vendors: • SAP • Oracle ( with its acquisition of PeopleSoft) • Infor Global Solutions • Microsoft COMPANY VISITED – ROCKLAND HOSPITALS Rockland group of hospitals provide international standards, seamless & integrated healthcare services across all the units through a network of specialised healthcare facilities across Delhi, Manesar, Dwarka and Noida (planned on …show more content…
TPA Name Company Name Patient Name D.O. A Room No. Alloted Bed Type LOS (Days) Total Bill Amount DEPOSIT AMOUNT 2) Statistical Report: STATISTICAL REPORT 07.08.14 PAYERWISE DISTRIBUTION OF PT 07.08.14 Doctor wise Inpatient No. Of patients Under Doctor ADMITTED HOSPITAL STAFF 3) Unbilled Data: Sl IP Patient Doctor Room LOS Panel Comp. Pay Patient Pay Deposit Comp. Bal. Patient. Bal. 4) Doctor wise discharge report: Doctor Wise Discharge Report 07.08.2014 Sl. Bill IP Patient Doctor Payer Panel Mode Revenue 5) Summary Report: DAILY REVENUE REPORT SNAP SHOT 01-Aug 02-Aug 03-Aug 04-Aug 05-Aug 06-Aug 07-Aug MTD/Act GROSS REVENUE (B9+B10) DISCOUNT (IP+OP) NET REVENUE (B2-B3)
To help the company get back on track, the following three ERP modules are recommended as a start for the company. These modules will help the company integrate data across its plant sites, generate
A management information system (MIS) is an information collection and analysis system that facilitates access to program and participant information."(mays.tamu.edu, 2013) This system is usually computerized. Businesses use MIS at all levels of operation to collect, process and store data. Management uses this data in the form of information needed to carry out the daily operations of the business. Everyone who works in business, from someone who pays the bills to the person who makes employment decisions, uses MIS. In fact, many (if not most) companies concentrate on the alignment of MIS with business goals to achieve competitive advantage over other companies. "The major components of the MIS are the database, the model base, and the user interface. The database is used to store important data, the model base has the required statistical models in order to analyze the large amounts of data, and the user interface allows the user of the software to navigate through it and use it with ease."(mays.tamu.edu, 2013)
A system integrated approach would improve the business process and hence enable the different functions to share information. It was clearly identified that the ERP deployment would benefit the company through all these elements. In the case, benefits of ERP adoption were not quantified but improved cost and better pricing strategy were discussed to justify the ERP project financially. It can be interpreted that ERP, leading to improved cost analysis, cost control, less redundancy, optimized production and better pricing, would result in low costs and hence higher profit for the company. Financial justification for the ERP adoption can also be inferred through the fact that it would lead to resolution of several problems which the company faces
ERP stands for Enterprise Resources Planning. ERP is a term used for software that controls whole organizations different departments. SAP is the world leader in ERP systems followed by Oracle.
In the business world today, technology is becoming an essential staple. Every big business relies on it one way or another. More importantly than just technology itself, the use of management information systems is what guides a company in terms of catering to its customers and knowing what moves to make next. Management information systems (MIS) can be defined is the study of people, technology, and organizations (What is MIS?). However, that is a very general definition because there is a lot more that comes out of the use of these MIS systems.
MIS stands for Management Information System; it plays a crucial part in the business because it allows the flow of information between all levels of management as well as the different functional areas of the company. MIS is made out of the Decision support systems, Knowledge management systems, office automation systems, Transaction Processing Systems and the executive support system.
At the moment, Enterprise resources planning (ERP) systems had become important systems in the modern business world. The meaning of ERP itself is an integrated software package composed by a set of standard functional modules (production, sales, human resources, finance, etc.) developed or integrated by the vendor that can be adapted to the specific needs of each customer (Esteves et al. 2000).
Information Management has to do with capturing information, efficient planning, organizing and evaluating the information to interpret for an organization to make well informed decisions. (Hinton, 2006) The main reason organizations depend on information is to improve its overall management in order to yield significant operational benefits in all areas of the organization and importantly its overall efficiency, competitiveness and responsiveness. The improvements either need expansion in the amount of information required or implementing a new information management system.(Power, 1983) The information management system is effective in organizations when the activities are shared amongst various groups, preparing them for change in the information system by identifying problems and evaluating it and gradually integrating actions in the project for successful implementation. (Bass, 1983), (Mintzberg, Rasinghami and Theoret 1976). Most organizations believe Information Technology and Information Management is the same but according to Hinton (2006), while Information Technology is an important role in an organization. Information Management is broader it helps the organization to build, maintain and re-build its business processes and information system.
Management information system contains of three resources, which are people, information and technology. This helps the company stay up to date with all the changes in the market; it also helps them
Information system, an integrated set of components for the gathering storage and processing of data and for transport information, knowledge and digital goods. Business enterprises and other organizations rely on information systems to accomplish and manage their operations, to act together with their customers and suppliers, and compete in the marketplace.
Next, the management information systems are business functions like accounting and human resources, which moves information about people, products, and processes across the company which facilitates decision making and problem solving (Baltzan, p.14) Electronic communications such as Facebook and Twitter have provided many new tools to ...
In order to be more productive and accurate, most of the companies depend on use of technology, with the help of enterprise resource planning (ERP) systems. (Olsen, and Saetre, 2007).
Ackoff identifies five assumptions commonly made by designers of management information systems (MIS). With these assumptions, Ackoff argues that these assumptions are in most cases not justified cases, and often lead to major deficiencies in the resulting systems, i.e. "Management Misinformation Systems." To overcome these assumptions and the deficiencies which result from them, Ackoff recommends that management information system should be imbedded in a management control system.
Laudon C. & J. Laudon (2003: 5th edition) Essentials of Management Information Systems. London: Prentice Hall International Limited
1a. Decision Support Systems generally provide support for disorganized decisions. DSS problems are often characterized by unfinished or questionable information, or the use of qualitative data. DSS includes modeling tools where different sequence of events can be modeled and compared. Investment decisions are an example of what might be supported by Decision Support Systems. Management Information Systems are generally more refined reporting systems built on existing transaction processing systems. MIS is often used to support structured decision making and will typically support tactical level management, but sometimes are used at other levels. Examples of structured decisions supported by Management Information Systems may include determining