Answer to Question #177201 in Management for GARIMA

Question

Tanishq Jewellers want to set up MIS in their organization in order to manage the information better across the organization. Can you guide them about the same along with the characteristics, components, advantages and limitations? 

Answer 1

MIS (Management Information System) is a combination of of hardware and software technology that focuses on the management of data that provide effective decision making. For Tanishq Jewelry information will be well stored and there will be effective management.

Characteristics of MIS

Long term planning-Planning is an essential requirement. MIS is designed in such a way it has the needs and objectives of the organization.

Oriented in management-Organization development majorly has to include a business plan.

Used for the future- produce meaningful information used in the future reference. They include capacity, workforce, production and overtime rates.

Central database-holds functional systems together. It makes it easier for easier access of customers, inventory and vendors.

Integration- Is the ability to produce more meaningful information. For effective production there are factors required to be balance they include production and capacity.

System approach-The data system follows a system approach. Monitors the performance of an organization to the objectives aligned.

Components of MIS

Hardware Resources- All materials used in information processing.

Data Resources-Holds processed and organized data

People Resources-People are required in the information systems also in the Jewelry operation systems.

Software Resources-instructions of processing information.

Advantages of MIS

There will be customer satisfaction

Better management decisions

Better planning

Improved supervision and control

LIMITATIONS

Requires high maintenance- There might be website or server crash that leads to the loss of information. To tackle such an issue require maintenance cost.

Training of employees is required-Employees shou8ld have the knowledge on how information systems are managed. Due to competitive environment employees have to be trained therefore resources and time is consumed.

High cost-You have to be on toes with the change of things. Cost factor creates a quagmire in most organizations due to new computerized systems.