EXAM 3 - Chapter 7 Three Categories of Information Systems:...

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Chapter 7 Three Categories of Information Systems: - Calculations systems: computes tedious, repetitive calculations o Labor saving devices, produced little information o None are used today (1950-1980) - Functional Systems: facilitated work of single department or function o Sometimes called islands of automation because they work independently of each other ERGO, not always efficient o Human Resources: support recruitment, compensation, evaluation and development of organizations employees and affiliated personnel Recruitment varies dep. on size and complexity of organization Job postings, resume evaluations, hiring process Compensation: payroll, benefits, vacation, health, retirement, stock options, employee contributions Employee assessment: job requirements, performance evaluations Development and training: development programs, training classes HR planning: standards (inc. job classification, skill req. pay standards) and staff planning – future req. o Accounting and Finance General Ledger: shows balance in asset, liability, and equity accounts Financial reporting: keeps records and reports to investors, creditors, and other external users Cost accounting: determines for internal users how much specific products or services cost Budgeting: quantifies goals for revenues and expenses; tracks progress towards goals Accounts receivable: tracks money owed to company and manages collection Accounts payable: tracks money owed by the company to suppliers and schedules payment Cash management: manage inflows and outflows of cash, prepares cash budget, manages necessary external finances Treasury management: manages retained earnings, dividend payments and long-term financing o Sales and Marketing Lead tracking: records potential customers, their product interests, and maintains history of contacts Sales forecasting: individual/territory/regional/company projections; management uses results to plan operations and produce revenue projections Customer management: maintain history of contacts, credit status, past-orders history
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Product management: report sales by category, assess promotions, advertising, and sales channels o Operations systems: concern management of finished goods inventory and movement of goods to the customer Prominent for non-manufacturers – retailers, distributors, and wholesalers Order entry: obtain customer information, verifies credit, records payment and enters order for processing Order management: tracks order, handles shipping, exceptions, informs customer of order status Finished-goods inventory: control/manage inventory, support/evaluate policy Customer service: answer customer questions about order/product use via phone/web o Manufacturing systems facilitate production of goods Inventory Control: tracks goods/materials into, out of, and between inventories o UPC bar codes o Radio frequency identity tags (RFIDs) Computer chip that transmits data about
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This note was uploaded on 03/30/2008 for the course ECON 3104 taught by Professor Katz during the Spring '08 term at Virginia Tech.

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EXAM 3 - Chapter 7 Three Categories of Information Systems:...

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