What Are the Benefits of a Management Information System?

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Management information systems were developed in the 1960s. Management information system describes a company and its resources. MIS allows managers to create reports about the company activities. Company activities can be products produced or sold, services, inventory, business partners and people. MIS keeps company information and resources organized.

Financial MIS

  • Financial MIS creates reports about a company past and present money activities. The Financial MIS can show a companies profit and losses, financial records about a company that states how the company is doing, decisions on spending and how a company can control cost.

Manufacturing MIS

  • Manufacturing MIS monitors and control the flow of materials, products and services of a company. Raw goods that are processed are monitored by Manufacturing MIS. This helps Manufacturing MIS control and reduce costs of products and services.

Marketing MIS

  • Marketing MIS handles product creations, sales, prices, advertisements and future business decisions. Marketing MIS makes decisions on product and service appearance. Marketing MIS manages customer contacts, makes questionnaires for customer feedback about their company product or service and tracks customer spending habits.

Human Resource MIS

  • Human Resource MIS manages employees and selection of employees. Human resource MIS looks at needs of the employees, the workforce rules, the hiring process, training, and job assignments. The company's Human resource MIS is in charge of payroll and medical care for its employees.

Benefits

  • Management information system helps companies keep track of its resources and stay organized. MIS allows managers to make different types of reports about a company activities. Managers can print a report that show a companies daily activities, how products or sold or services being used and use reports to make future business decisions.

References

  • Photo Credit Image by Flickr.com, courtesy of Kevin Dooley
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