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Management Information Systems By Effy Oz & Andy Jones Chapter 3: Business Functions and Management Information Systems By Effy Oz & Andy Jones Chapter 3: Business Functions and Supply Chains www. cengage. co. uk/oz Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Objectives • Identify various business functions and the role of ISs in these functions Objectives • Identify various business functions and the role of ISs in these functions • Explain how ISs in the basic business functions relate to each other • Articulate what supply chains are and how information technology supports management of supply chains Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Objectives (continued) • Enumerate the purposes of customer relationship management systems • Explain the Objectives (continued) • Enumerate the purposes of customer relationship management systems • Explain the notion of enterprise resource planning systems Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Effectiveness and Efficiency • Information technology makes work more effective, more efficient, or both Effectiveness and Efficiency • Information technology makes work more effective, more efficient, or both • Effectiveness: the degree to which a goal is achieved • Efficiency: the relationship between resources expended and benefits gained in achieving a goal • Productivity: efficiency of human resources Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Effectiveness and Efficiency (continued) • Productivity increased with software applications • Customer relationship management Effectiveness and Efficiency (continued) • Productivity increased with software applications • Customer relationship management system: serves customers better and faster – Service continues after delivery of goods as customer service – Often combined with supply management systems to make enterprise resource planning system Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Effectiveness and Efficiency (continued) Use with Management Information Systems 1 e By Effy Oz Effectiveness and Efficiency (continued) Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Effectiveness and Efficiency (continued) Use with Management Information Systems 1 e By Effy Oz Effectiveness and Efficiency (continued) Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Accounting • Purpose is to track every financial transaction • Make sure company is Accounting • Purpose is to track every financial transaction • Make sure company is pulling a profit • Accounts payable and receivable track who owes who what • Balance sheet: picture of financial situation – Includes profit-and loss report Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Accounting (continued) • Accounting information system pulls information from transaction processing system – Automatically Accounting (continued) • Accounting information system pulls information from transaction processing system – Automatically routes purchases to accounts payable • Generates reports on demand or on schedule • Cost-accounting systems accumulate data about costs involved in producing specific products Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Accounting (continued) Use with Management Information Systems 1 e By Effy Oz & Andy Accounting (continued) Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Finance • Firm’s health is measured by its finances • Information systems improve financial Finance • Firm’s health is measured by its finances • Information systems improve financial management • Financial managers try to manage money as efficiently as possible Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Finance (continued) • Financial managers have any goals – Collect payables as soon as Finance (continued) • Financial managers have any goals – Collect payables as soon as possible – Making payments at the latest time allowed by contract or law – Ensuring that sufficient funds are available for day-to-day operations – Taking advantage of opportunities to accrue highest yield on funds possible Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Finance (continued) Use with Management Information Systems 1 e By Effy Oz & Andy Finance (continued) Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Cash Management • Financial information systems help managers track company finances • Cash management Cash Management • Financial information systems help managers track company finances • Cash management systems: deal specifically with cash • Electronic funds transfer: huge cash transactions – From one bank to another Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Investment Analysis and Service • Investor’s goal is buy asset and sell higher • Investment Analysis and Service • Investor’s goal is buy asset and sell higher • Must know current prices of securities in real time • Information systems provide investors and clients with financial news, stock prices, and exchange rates • Factors to consider in investing are variability, expected return, and liquidity Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Engineering • Time to market: time between generating an idea for product and completing Engineering • Time to market: time between generating an idea for product and completing a prototype • Engineering includes designing and building the prototype • Brainstorming: group meeting and collaborating to generate ideas • Minimizing time to market is key to maintain competitive edge • Information systems contribute significantly to minimizing time to market Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Engineering (continued) • Computer-aided design: tools to create, modify and store designs and drawings Engineering (continued) • Computer-aided design: tools to create, modify and store designs and drawings • Rapid prototyping: creating one-of-a-kind products to test design in three dimensions • Takes hours rather than days or weeks to produce product • Computer-aided manufacturing: systems that instruct machines to manufacture parts and assemble product Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Engineering (continued) Use with Management Information Systems 1 e By Effy Oz & Andy Engineering (continued) Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Supply Chain Management • Supply Chain: procurement of raw materials, processing materials, and delivering Supply Chain Management • Supply Chain: procurement of raw materials, processing materials, and delivering goods • Processing goods also known as manufacturing • Supply Chain Management: monitoring, controlling, facilitating supply chains • CAD systems often automatically transfer data to CAM systems • IT helps scheduling, planning, allocating, analysing manufacturing operations Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Material Requirements and Purchasing • Material requirements planning (MRP): Inventory control – Determines when Material Requirements and Purchasing • Material requirements planning (MRP): Inventory control – Determines when inventory needs to be restocked – Can predict future need based on demand forecasts • Bill of materials: raw material and subcomponent demands • Economic order quantity: optimal quantity to be bought Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Manufacturing Resource Planning • Manufacturing resource planning: plans entire manufacturing process • Uses master Manufacturing Resource Planning • Manufacturing resource planning: plans entire manufacturing process • Uses master production schedule • Master production schedule: specifies how production capacity is used to meet customer demands • Just-in-time manufacturing: suppliers ship parts directly to assembly lines – Saves storage costs Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Monitoring and Control • Information systems help control manufacturing processes • Controlling processes ensures Monitoring and Control • Information systems help control manufacturing processes • Controlling processes ensures quality Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Shipping • Performed by manufacturer or shipping company • Many variables that affect cost Shipping • Performed by manufacturer or shipping company • Many variables that affect cost and speed of shipping • Sophisticated software to optimize shipping efficiency necessary to stay competitive • Vehicles equipped with computers and satellite communication Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

RFID in SCM • Radio frequency identification: allows recording of information about product • RFID in SCM • Radio frequency identification: allows recording of information about product • Electronic product code: replaces universal product code with much more information • Info includes date of manufacturing, plant location, expiration date, destination • Ensures genuineness of products Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Customer Relationship Management • Customer Relationship Management: supporting relationships with customers – Supports three Customer Relationship Management • Customer Relationship Management: supporting relationships with customers – Supports three areas • Marketing • Sales • Customer service Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Customer Relationship Management (continued) Use with Management Information Systems 1 e By Effy Oz Customer Relationship Management (continued) Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Market Research • To promote products successfully, organisations must perform market research • Market Market Research • To promote products successfully, organisations must perform market research • Market research: discover populations and regions that are most likely to purchase product – Conduct interviews with consumers and retailers – Statistical models predict sales volumes of different products Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Targeted Marketing • Targeted Marketing: promote to people most likely to purchase products • Targeted Marketing • Targeted Marketing: promote to people most likely to purchase products • Database technology allows smaller companies to use targeted marketing • Can direct promotions to customers most likely to buy • Spam: cheap method of advertising involving sending mass e-mail communications Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Targeted Marketing (continued) • • Database management systems sort consumers Telemarketing: marketing over the Targeted Marketing (continued) • • Database management systems sort consumers Telemarketing: marketing over the telephone PC connected to large database Computer telephony integration: allows computer to use telephone line as input • Data mining: using large data warehouses to find trends on consumer habits Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Customer Service • Web-based customer service provides automated customer service 24/7 – Saves labour Customer Service • Web-based customer service provides automated customer service 24/7 – Saves labour costs – Saves paper costs – Consists of FAQs, tracking systems, maintaining customer profiles • Artificial intelligence used to emulate a reallife customer service representative Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Salesforce Automation • Equips traveling salespeople with information technology • Makes sales presentations more Salesforce Automation • Equips traveling salespeople with information technology • Makes sales presentations more efficient • Let salespeople present different options for products and services on net Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Human Resource Management • • • Employee record management Promotion and recruitment Training Evaluation Human Resource Management • • • Employee record management Promotion and recruitment Training Evaluation Compensation and benefits management Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Human Resource Management (continued) F Use with Management Information Systems 1 e By Effy Human Resource Management (continued) F Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Employee Record Management • Keep personnel records to satisfy laws • Payroll and tax Employee Record Management • Keep personnel records to satisfy laws • Payroll and tax calculation • Human Resource information systems are now digitised – Saves space, time and costs Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Promotion and Recruitment • Select best-qualified person for position • Selection process automated with Promotion and Recruitment • Select best-qualified person for position • Selection process automated with IS • Intranet: interorganisational network that supports Web applications – Helps HR manager post position vacancy announcements • Automated recruiting and selection software saves costs of publishing help wanted ads Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Training • Improving employee skills • Multimedia software training replacing classrooms and teachers • Training • Improving employee skills • Multimedia software training replacing classrooms and teachers • Training software emulates situations where employee must act • Information technology reduces training costs dramatically Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Evaluation • Employee ability must be periodically evaluated by supervisors • Often is a Evaluation • Employee ability must be periodically evaluated by supervisors • Often is a subjective process, which is a problem • Evaluation software tries to solve this problem by standardising evaluation process – Provide tools to aid in fairly evaluating every employee Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Compensation and Benefits Management • Compensation includes salary, hourly pay, and bonus • Programs Compensation and Benefits Management • Compensation includes salary, hourly pay, and bonus • Programs calculate pay and taxes – Automatically generates payslips and performs direct deposits • Programs help manage benefits – Benefits database accessible through intranet Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Interorganisational Supply Chain Management Systems • Inventory is decreasing while gross domestic product is Interorganisational Supply Chain Management Systems • Inventory is decreasing while gross domestic product is increasing • Money saved from inventory can be spent elsewhere • Reduction in inventory attributed to supply chain management systems – Streamline operations throughout chain • Newer SCM systems connect multiple organisations Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Interorganisational Supply Chain Management Systems (continued) Use with Management Information Systems 1 e By Interorganisational Supply Chain Management Systems (continued) Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

The Importance of Trust • Supply chain systems work best when all businesses are The Importance of Trust • Supply chain systems work best when all businesses are sharing information • Trust between allied companies facilitates collaboration • Risk of disclosing important figures is present • Risk of taking advantage of demand figures is present Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

The Musical Chairs of Inventory • Small enterprises do not use SCM systems – The Musical Chairs of Inventory • Small enterprises do not use SCM systems – Affects more powerful organisation that small enterprise is linked to • Inventory turns: the number of times the business sells its inventory • When SCM of companies are not linked, supplier requirements unknown so companies must overstock inventory • One company sits with lean inventory while other stands, hence musical chairs Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Collaborative Logistics • Web allows organisations from different industries to collaborate • Businesses combine Collaborative Logistics • Web allows organisations from different industries to collaborate • Businesses combine freight, sharing trucks – Optimize logistics by connecting SCM systems • SCM systems help collaborative warehousing – Share warehouse space Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Enterprise Resource Planning • Replace old, disparate information systems with enterprise applications • Enterprise Enterprise Resource Planning • Replace old, disparate information systems with enterprise applications • Enterprise resource planning: – Manages daily operations – Complex – Require special tailoring for specific organisations – Relatively expensive Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Summary • Effectiveness is the degree to which a task is accomplished • Efficiency Summary • Effectiveness is the degree to which a task is accomplished • Efficiency is the ratio of output to input • Productivity is the measure of people’s efficiency • Information systems have been integrated into accounting services • Financial information systems help managers track cash Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Summary (continued) • Computer-aided design systems help engineers design new projects • Computer-aided manufacturing Summary (continued) • Computer-aided design systems help engineers design new projects • Computer-aided manufacturing systems direct machines that assemble parts • Supply chain management systems optimize workload, speed, and cost in supply chains • Customer relationship management includes the entire cycle of relationships with customers Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning

Summary (continued) • Human resource management systems facilitate staff selection and record keeping • Summary (continued) • Human resource management systems facilitate staff selection and record keeping • Multiple companies’ SCM systems can be linked, facilitating cooperation, which requires trust • Installing an enterprise resource planning system can encompass all business processes Use with Management Information Systems 1 e By Effy Oz & Andy Jones ISBN 9781844807581 © 2008 Cengage Learning