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    27 views10 pages

    MMPO4 2023 MEENAKSHI - Page-0001

    Uploaded by

    Vishad Chhabra
    mba

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    Course Code > MMPO-004 Course Title : Management Information System Assignment Code = = MMPO-004/TMA/JAN/2023 Coverage All Blocks Note: Attempt all the questions and submit this assignment to the coordinator of your study centre. Last date of submission for January 2023 session is 30" April, 2023, and for July 2023 session is 31" October, 2023. 1. What is Management Information System (MIS)? What are the components of an information system? Discuss the applications of Information Systems in Business and Society with suitable examples. 2. What is Business intelligence (BI)? What are Business intelligence (BI) applications in Supply Chain Operations? Discuss. 3. Define cloud computing? What are the various cloud technologies that you know? Discuss each technology. 4. What do you mean by Big Data? What are the various applications of Big Data in Supply Chain Management? Discuss. 5. What is Block Chain Technology? What are the basic components of Block Chain Technology? Explain the uses of Block Chain Technology in the industry that you are ‘more interested. Diselaimer/Special Note: These are just the sample of the Answers/Solutions to some of the Questions given in the Assignments, These Sample Answers/Solutions are prepared by Private Teacher/Tutors/Authors Meenakshi Sharma for the help and guidance of the student to get an idea of how heishe can answer the Questions given the Assignments. We do not claim 100% accuracy MEENAKSHI STUDY PLATFORM (WHATSAPP 9816311521) ORDER IGNOU SOLVED ASSIGNMENTS (SOLVED PDF, HANDWRITTEN {SCANNED PDF 8HARDCOPY}) of these sample answers as these are based on the knowledge and capability of Private Teacher/Tutor Meenakshi Sharma. Sample answers may be seen as the Guide/Help for the reference to prepare the answers of the Questions given in the assignment. As these solutions and answers are prepared by the private Teacher/Tutor so the chances of error or mistake cannot be denied Any Omission or Error is highly regretted though every care has heen taken while preparing these Sample Answers/ Solutions. Please consult your own Teacher/Tutor before vou ‘prepare a Particular Answer and for up-to-date and exact information, data and solution, Student should must read and refer the official study material provided by the university: 1. What is Management Information System (MIS)? What are the components of an information system? Discuss the applications of Information Systems in Business and Society with suitable examples. ANS: Management Information System (MIS): ‘Management information systems facilitate a firm’s daily operations. It is present in every organization, Record keeping is significantly easier with information systems. The primary role of an information system is to simplify workflow; it saves the time and energy of employees. [a Management paces Dusen Information “ System Data —_ —» « COMPONENTS: The management information system comprises the following components. #1-Data Data is crucial for every business. Unfortunately, in the intemet era, firms are bombarded with too much data, not just relevant data, Firms collect data in files, documents, cloud storage, hard copies, and soft copy formats. Primarily the MIS stores data in a secure manner. For example, a bank maintains records of account deposits, withdrawals, and customer details. #2 -People An MIS is designed to be used by firm employees. managers, accountants, executives, and staff for day-to-day operations. Ideally, the MIS should be customized based on the firm needs. The MIS features should suit common usage. #3 — Business Processes MEENAKSHI SHARMA SANKHYAN (THE NAME KNOWN FOR QUALITY CONTENT) DOWNLOAD ASSIGNMENTS ONLINE: http://ignowassignmenthelper.con/ MEENAKSHI STUDY PLATFORM (WHATSAPP 9816311521) ORDER IGNOU SOLVED ASSIGNMENTS (SOLVED PDF, HANDWRITTEN {SCANNED PDF 8HARDCOPY}) Information systems simplify complex processes—the centralization of operations achieves this. #4— Hardware ‘Hardware is an indispensable component of MIS. Every system rms on a device, but the processing capabilities vary. ‘#5 — Software MIS software is categorized into two—system software and application software, The term system software refers to operating systems like windows and iOS. Application software is more specific—banking systems, accounting applications, payroll applications, et applications of Information Systems in Business and Society: New Products and Services ‘Any company looking to improve and secure the future has to establish a broader perspective with the use of a well-designed and coordinated information system. The IS makes it easier to enalyze independent processes such as information to produce valuable products or services and organized ‘work activities. Therefore, an IS can give a company the competitive advantage by analyzing how a company creates, produce, and sell their products or services. This means that the focus will be put on the main goal ahead. Information Storage Every organization needs records of its activities, to find the cause of problems and proper solutions. Information systems are usefil for storing operational data, comnmnication records, documents, aud revision histories. Manual data storage will cost the company lots of time, especially when it comes to searching for specific data. A quality information system stores data ina comprehensive and sophisticated database wich makes the process of finding it much more convenient, With such information, a company can analyze how certain actions affected the business, as well as prepare cost estimates and forecasts, Easier Decision Making Without an information system, a company can take a lot of time and energy in the decision- making process. However, with the use of IS, it’s easier to deliver all the necessary information and model the results to make better decisions, The management feam can use the information system to choose the best course of action and carry out the tasks. When there are several appealing alternatives, tite information system can be used to run different scenarios by calculating key indicators such as costs, sales, and profits. This way, you can determine the alternative with the most beneficial results. Behavioral Change Employers and employees can communicate rapidly and more effectively with an information system. While emails are quick and effective, the use of Information Systems is more efficient, since documents are stored in folders that can be shared and accessed by employees. This implies that information flows from the management to lower-level employees and vice versa. Also, the lower-level employees get enlightened and inyolved in important decision making, and this climinates the need for middle managers, Employees who are directly involved ia the decision- making process ave motivated and dedicated to their tasks. Modern Day Use of Information Systems MEENAKSHI SHARMA SANKHYAN (THE NAME KNOWN FOR QUALITY CONTENT) DOWNLOAD ASSIGNMENTS ONLINE: http://ignowassignmenthelper.con/ MEENAKSHI STUDY PLATFORM (WHATSAPP 9816311521) ORDER IGNOU SOLVED ASSIGNMENTS (SOLVED PDF, HANDWRITTEN {SCANNED PDF 8HARDCOPY}) In the past when a company received a customer order, whether it was for a service requested or for a product purchased, the order needed to go through a process of paper-based workflow that ‘was passed along to different departments, inbox-to-inbox. Throughout this process, the order often had to be re-typed as it passed through various departments, increasing the potential for Iman error. There Was no accurate account order status becanse there was no official tracking device to alert each department. In order to retrieve order status information, customers were trequently directed to contact the company’s warehouse for manual research! Today, companies have eliminated the inaccuracy of paper-based tracking by implementing ERP systems. In a recent study conducted by Panorama Consulting Solutions, 63 percent of companies used their ERP software to eliminate inefficiencies in processes such as order tracking. Instead of standalone computer systems, ERP uses a unified program that links various functional departments such as finance, HR, manufacturing, warehouse, planning, purchasing, inventory, sales, and marketing. While each department may have its own set of software modules, the software is interconnected so that information can be shared throughout the organization. Once ‘one department is finished updating and processing the order, it is automatically routed to the next

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