MIS 360°: Inventory Analytics, Budgets & Decision Systems

About this course

Introduction:This course is a comprehensive guide to understanding and leveraging Management Information Systems (MIS) for organizational success. It provides insights into the foundational aspects of MIS, its role in effective inventory control, and its application in budgeting and variance analysis. With a blend of theoretical knowledge and practical tools like Excel, students will learn how to make data-driven decisions, improve operational efficiency, and drive business growth.Section 1: MIS for OrganizationThis section lays the groundwork by introducing the concept of MIS and its significance in modern management. It covers the role of information systems in organizational decision-making and how to create effective MIS. Through lectures on common misconceptions and the critical role of computers in MIS, students will grasp the essentials of integrating technology with management. Key takeaways include understanding the components of MIS and strategies for its optimal use.Section 2: Inventory Control through MISInventory management is a critical aspect of business operations, and this section dives deep into leveraging MIS for effective inventory control. Students will learn techniques such as Pareto Analysis, methods for managing slow-moving and non-moving items, and concepts like reorder levels and Economic Order Quantity (EOQ). Practical Excel-based inventory control modules provide hands-on experience, enabling students to implement efficient inventory systems in real-world scenarios.Section 3: Budgeting & Variance Analysis through MISBudgeting and variance analysis are vital for financial planning and control. This section introduces students to the principles of budgeting, distinguishing it from forecasting, and the characteristics of an effective budgeting system. It delves into sales budgeting, cost variance analysis (material, labor, and overhead), and the preparation of varian

Course objectives

• to introduce the foundational concepts of MIS
• to develop effective inventory control systems
• to enhance financial planning through budgeting and variance analysis