Logistics and operations Essay Example | Topics and Well Written Essays - 2250 words

Logistics and operations - Essay Example According to Airman (n.d.), different companies use different types of inventory systems for inventory management and asset tracking. Inventory systems help managers in keeping track of assets and stocks, as well as in knowing where and when they have used their assets within companies. Some of the widely used inventory systems include information services inventory system, fixed asset inventory system, and information system (IS) for inventory management. All of these inventory systems are useful as they help companies keep an eye over stock and assets. In this paper, we will discuss IS-based inventory management system in order to know its effectiveness, as well as the way managers can use this to track deliveries. In today’s age of information technology, almost every company and organization is making a good use of technology based information services to carry out business activities. An information system (IS) based inventory system is one of such tools which helps managers keep track of incoming and outgoing stock. According to Kietzman (n.d.), inventory software is a specialized computer-based program that is used to keep track of the stock inventory, quantity, location, and current status. IS-based inventory management system deals with the use of information technology tools to help managers in doing information processing and management. An information system is a part of internal business control system that deals with a company’s inventory information, stock keeping procedures, and information technology. IS-based inventory systems help managers in tracking deliveries while improving efficiency and keeping control of business processes. A manufacturing or distribution company can never be successful without an IS-based inventory management system because IS keeps proper record of information related to inventory that managers can use for analysis and decision-making purposes. IS-based inventory management

Business Decision Making Process Essay Example | Topics and Well Written Essays - 2500 words

Business Decision Making Process - Essay Example It is because of this reason that it is often important for the higher management to improve upon the decision making process by learning tools and techniques which contribute towards improving the overall effectiveness of the decisions made. It is important to note that decision making and problem solving are often considered as the same however, there are certain subtle differences which need to be taken into account for decision making and problem solving. It is important to understand that decision making takes place at every level of the organization i.e. from top management of the organization to the operational level and as such magnitude, nature and importance of decision making at each different level differs from each other. This paper will apply the analyses and techniques of business decision making in planning and delivery of the Ashes Test to be played at Cardiff during 2009 providing at least three illustrations or examples. Business decision making process is quite complex process as it draws upon data from different sources and utilizes them in different manner in order to achieve the desired results. In order to make better and more effective decisions, it is therefore important that almost every possible aspect of decision making shall be taken into consideration. Cost and benefit analysis is the major criteria based on which most of the business decisions are made and as such there are different tools and techniques which are used to make decisions more effective. Over the period of time the general theoretical thrust behind the business decision making has been based on finding the quantitative aspects of the decision making whereas on the other hand qualitative aspects of decision making were not taken into consideration. (Baker,1981). This focus on the quantitative aspects of decision making has greatly improved the capability of