Disadvantages of Omnichannel Retailing
In the previous article, we have explained the concept of omnichannel retailing. We have also seen how it is different from multichannel retailing and what are some of the benefits of using omnichannel retailing. However, there are many critics who believe that omnichannel retailing is only good in theory. When it comes to real life, […]
Retail Merchandising
Merchandising Retail Merchandising refers to the various activities which contribute to the sale of products to the consumers for their end use. Every retail store has its own line of merchandise to offer to the customers. The display of the merchandise plays an important role in attracting the customers into the store and prompting them […]
Importance of HRM for Organizational Success
We have discussed the basic concept of HRM and the ways in which it helps the organization meet its goals. In this article, we discuss the reasons for organizations to have a HRM strategy as well as the business drivers that make the strategy imperative for organizational success. It is a fact that to thrive […]
Risks Associated with Remote Deposit Capture
The usage of remote deposit capture has been increasing rapidly in the recent past. This is because the technology is convenient and also because check processing became very difficult during the lockdowns which were induced by the coronavirus pandemic. As a result, corporations were forced to deploy remote deposit capture machines in order to continue […]
The Alliance between Car Companies and Ride Hailing Apps
Automobile companies in India have been facing tough competition amongst themselves. Firstly, increasing traffic congestion in the cities is making the millennials shy away from buying cars. Secondly, the number of automobile companies, as well as the models that they produce, are increasing rapidly every day. Hence, registering any kind of growth is difficult in […]
An information system is integrated and co-ordinate network of components, which combine together to convert data into information.
An information system is essentially made up of five components hardware, software, database, network and people. These five components integrate to perform input, process, output, feedback and control.
Information processing consists of input; data process, data storage, output and control.
During input stage data instructions are fed to the systems which during process stage are worked upon by software programs and other queries.
During output stage, data is presented in structured format and reports.
In any given organization information system can be classified based on the usage of the information. Therefore, an information system in an organization can be divided into operations support system and management support system.
In an organization, data input is done by the end user which is processed to generate information products i.e. reports, which are utilized by internal and or external users. Such a system is called operation support system.
The purpose of the operation support system is to facilitate business transaction, control production, support internal as well as external communication and update organization central database.
The operation support system is further divided into a transaction-processing system, processing control system and enterprise collaboration system.
In manufacturing organization, there are several types of transaction across department.
Typical organizational departments are Sales, Account, Finance, Plant, Engineering, Human Resource and Marketing. Across which following transaction may occur sales order, sales return, cash receipts, credit sales; credit slips, material accounting, inventory management, depreciation accounting, etc.
These transactions can be categorized into batch transaction processing, single transaction processing and real time transaction processing.
In a manufacturing organization, certain decisions are made by a computer system without any manual intervention. In this type of system, critical information is fed to the system on a real-time basis thereby enabling process control. This kind of systems is referred as process control systems.
In recent times, there is more stress on team effort or collaboration across different functional teams. A system which enables collaborative effort by improving communication and sharing of data is referred to as an enterprise collaboration system.
Managers require precise information in a specific format to undertake an organizational decision. A system which facilitates an efficient decision making process for managers is called management support system.
Management support systems are essentially categorized as management information system, decision support system, expert system and accounting information system.
Management information system provides information to manager facilitating the routine decision-making process. Decision support system provides information to manager facilitating specific issue related solution.
An information system can be categorized based upon activity into strategic planning system, tactical information system and operational information system.
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What the Current Wave of Protectionism and Populism mean for the Future of Globalization and Free Trade
February 12, 2025
