4. Inventory sub-system
Submitted by Presented by
S.P.Deniel Pradeep kumar
(08MBA058)
Answer -:
1. Financial and
accounting system
Financial information system (FIS)
Generally, Information is the lifeblood of financial markets, but they rely on a flow of news and
market information to function. Moreover, financial information systems deliver huge amounts
of details to financial professionals around the world about counter markets, price endorsers,
research services and news-providers.
DEFINITION
Policy Fo
and R
Figure 1: Cycle for public financial management
1
Financial professionals have access to a wide range of data from breaking
news and immediate prices, price-histories, historic news, stats, agent research,
corporation fundamental data and estimates. However, the most demanding users
of financial information are traders and sales people.
Although they also desire access to the news and market information they do
not require pursuing market actions as strictly as traders. They need systems that
supply other content together with company s basic data, forecast data, broker
investigating and details on managed resources.Financial professionals look for
information systems which also supply analysis and communicating tools. They
require tools which allow them to investigate the markets, identify the trading and
investment chances, and evaluate the perils linked with their strategies. In addition,
they need the ability to speak quickly and simply with other market-participants and
with their co-workers & ; clients. Increasingly, financial professionals on the
purchase-side want to trade directly and try to find access to feasible prices and
merchandising tools in their fiscal information systems.
Components of FIS:
FIS is comprised of three SAP components. This section focuses on how they
work individually and how they relate to each other. The three components
are:
• Controlling (CO)
Controlling is used to track the revenues and expenses based on particular
reporting necessities, i.e. by department or specific activity or project. Each
revenue or expense transaction practiced within Financial Information
System will incorporate a code furnished from each of these components and
will answer the following questions : What taxation or expenditure occurred
(FI) What is the source of funding How much funding is available
for spending (FM) Which department/project incurred the activity (CO).
The Finance and Accounting System takes care of various functional and
management aspects related to finance and accounting activities. This sub
module supports and manages the following functions:
· Finance
It enables the financial functions of in-house systems. The expenditure and the
revenue accounts can be maintained. This system offers the facility of maintaining
voucher wise expenditure details and generates cashbooks and the related ledgers
and account documents.
· Planning and Budgeting
The authorities in concern prepare the financial estimate for the department.
Firstly a Proposed Estimate (PE) is made taking into view the various expenditures
and the profits, with reference from last Budget Estimates. Input forms are made to
keep track of the various transactions.
The Sanction Estimate (SE) takes care of the amount sanctioned for particular
activity under particular budget head. The Revised Estimate (RE), the Latest
Estimate (LE), Excess and Savings are made which keeps track of the further
changes taking place at various levels of transaction.
In all, budgeting supports the following functions
· Accounts
1. Generation of Disbursal Officer’s cashbook. (Details maintained are
number of items, head of service and particulars of various
disbursements.)
· Audit
· Inventory
A SIS is a type of Information System that is aligned with business strategy and structure. The
alignment increases the capability to respond faster to environmental changes and thus creates a
competitive advantage. An early example was the favorable position afforded American and
United Airlines by their reservation systems, Saber and Apollo. For many years these two
systems ensured that the two carriers' flights appeared on the first screens observed by travel
agents, thus increasing their bookings relative to competitors. A major source of controversy
surrounding SIS is their sustainability.
Introduction
A Strategic Information System (SIS) is a system that helps companies change or otherwise alter
their business strategy and/or structure. It is typically utilized to streamline and quicken the
reaction time to environmental changes and aid it in achieving a competitive advantage.
1) Decision support systems that enable to develop a strategic approach to align Information
Systems (IS) or Information Technologies (IT) with an organization's business strategies
2) Primarily Enterprise resource planning solutions that integrate/link the business processes to
meet the enterprise objectives for the optimization of the enterprise resources
3) Database systems with the "data mining" capabilities to make the best use of available
corporate information for marketing, production, promotion and innovation. The SIS systems
also facilitate identification of the data collection strategies to help optimize database marketing
opportunities.
4) The real-time information Systems that intend to maintain a rapid-response and the quality
indicators.
Strategic Planning
Strategic Planning establishes the direction for all Agency efforts and forms the
basis for strategic and tactical decisionmaking, resource allocation, and capital
investment. It does so in the context of the Agency's vision, mission, goals,
objectives, values, and policies, as well as external and internal environments. The
Strategic Planning process requires alignment among NASA's Strategic Plan, the
Enterprise Strategic Plans, programs, and institutional capabilities.
Definition
1. Payroll
2. Work Time
The work time gathers standardized time and work related efforts. The most advanced
modules provide broad flexibility in data collection methods, labor distribution
capabilities and data analysis features. Cost analysis and efficiency metrics are the
primary functions.
3. Benefits Administration
5. Recruiting
Online recruiting has become one of the primary methods employed by HR departments to
garner potential candidates for available positions within an organization. Talent Management
systems typically encompass:
7. Performance Record
Application of HRIS
• HR planning
• Succession planning
• Work force planning
• Work force dynamics analysis
• Staffing
• Applicant recruitment and tracking
• Employee data base development
• Performance management
• Learning and development
• Compensation and benefits
• Pay roll
• Job evaluation
• Salary survey
• Salary planning
• International compensation
• Benefits management
• Develop innovative Org. Structure
• Develop IT
HRIS Benefits:
HRIS has showed many benefits to the HR operations. A few of them can be
detailed as;
Critical Analysis
Although almost all HR managers understand the importance of HRIS, the general
perception is that the organization can do without its implantation. Hence only large
companies have started using HRIS to complement its HR activities.
But HRIS would be very critical for organizations in the near future. This is because
of a number of reasons.
But trends are changing for the better as more and more organizations realize the
importance of IT and technology. Major HRIS providers are concentrating on the
small and middle range organizations as well as large organizations for their
products. They are also coming up with very specific software modules, which
would cater to any of their HR needs. SAP and Peoplesoft provide HR modules
within their business intelligence software. Hence HRIS would soon be an integral
part of HR activities in all organization.
4.Inventory sub-system
The Inventory Subsystem provides the capability to add new stock items, review
or change existing stock items, delete obsolete stock items, and to generate
standard or ad hoc reports. The Inventory Subsystem automatically generates
Stock Replenishment Notices for low level stock items, and provides for
reconciliation of physical inventory data. It supports in particular the planning and
procurement of
materiel. The Inventory Management Sub-system is composed of the following modules (according to the
DoD terminology called Computer Software Configuration Items – CSCI):
◊ Provisioning
One of the most important activities of military logistics is to provide the armies with materiel
and equipment. There is an immense amount of labor associated with assurance of the
operability of the equipment with spare parts and in time supply of ammunition for the
individual organizational parts, while minimizing the Warehouse inventories which freeze
considerable financial and human resources. Therefore, objective needs must be identified. This
is done by means of analyzing the present situation.
◊ Distribution Directions
Their purpose is to create directions for the complementing of the inventory level according to
the amount standard applicable to the individual organisational parts of the armed forces.
Distribution directions are created based on requirements for materiel from the organizational
parts of the armed forces (entered at local servers by means of the Distribution Directions), or
based on a parametrisable automated calculation done by comparing the current inventory level
(the Materiel Record Keeping) with standards for the individual organisational parts (the
Logistic Requirements).
Control (Performance Indicators) is designed for the top level of logistics. It serves to evaluate
the logistic performance and effectiveness of logistic entities (formations, warehouses, bases)
and processes (supply, maintenance, storage, etc.). It defines the objectives, intentions,
measurable norms and performance indicators. Based on these, it compares the actual
performance with the relevant norms and presents the result to the user.
The Logistics Information System (LIS) is made up of the following information systems:
The Logistics Information System allows you not only to evaluate actual data, but also to
create
Planning data. The information systems provide easy-to-use planning functions that are also
Supported by a forecasting function. As of Release 3.0, the planning functionality of the
Information systems and the component Sales and Operations Planning (SOP) were
combined
And enhanced to make one central planning and forecasting tool. For this reason, you will
not
Find the planning documentation in this document, but rather in the document PP - Sales
and
Operation Planning.
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What is MKIS?
‘MKIS (MIS) is a set of procedures and methods for the regular, planned
collection, analysis and presentation of information for use in marketing decisions’
"A marketing information system is a continuing and interacting structure of people, equipment
and procedures to gather, sort, analyse, evaluate, and distribute pertinent, timely and accurate
information for use by marketing decision makers to improve their marketing planning,
implementation, and control".