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Introduction to Information Systems in Business - Lesson Summary

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The key points from this module are:
The goal of production or manufacturing management is to optimally deploy human resources, machines, and materials to maximize the production of goods and services by an organization at the least cost.
Goods receipts documents are issued by the warehouse of an organization upon the recieval of finished goods
The manufacturing process mainly focuses on two strategies, which are:
Make-to-stockMake-to-order
Capacity requirements specify how much capacity is required for individual orders at a specific time.
The computer-aided design subsystem basically automates the creation and revision of product designs using computers and sophisticated graphics software.
Virtual reality systems are interactive graphics software to create computer-generated simulations that are very close to reality.
Transit time is the difference in time, between the supplier’s shipment date and the time when these items are received in the factory.
The three primary objectives of MIS for supporting materials management function are:
To maintain up-to-date stocks of all materials at all timesTo immediately respond to any changes in the production planTo respond to changes in the demand pattern
Quality Management Systems integrate manufacturing quality and intelligence capability with the goal of continuously improving both product and process qualities.
The marketing intelligence subsystem filters data and stores critical information related to competitor’s transaction data and market-related intelligence data.