Department Of Computer Science

Financial And Production Information

Systems
Team Members

Lakha Singh Nagra ( PGDCA - 06)

 Manpreet Singh (PGDCA 15)
What is MIS?
• MIS is the acronym for Management
Information Systems.

• MIS is a collection of systems, hardware,

procedures and people that all work together to
process, store, and produce information that is
useful to the organization.
 Functional Aspects

• MIS is an integrated collection of functional

information systems, each supporting particular
functional areas.
 Internet

An Organization’s
MIS
Financial
MIS
Business
transactions

Drill down reports

Accounting
Transaction Databases MIS Exception reports
processing of
Demand reports
systems valid
transactions Key-indicator reports
Marketing
MIS Scheduled reports

Business
transactions
Databases Human
of
Resources Etc.
external
data MIS
Extranet
Etc.
1. Financial information system
• A financial information system is a type of
business software used to input,
accumulate, and analyze financial and
accounting data.
Effective and useful for business-
• It produces reports such as accounting
reports, cash flow statements, and financial
statement. The output produced helps in
making good financial management
decisions thus helping the managers run
the business effectively.
Features of good financial info. System-
• Keeping record of all payments and
receivables transactions.
• Keeping track of liabilities/loans.
• Maintain profit and loss account, and
balance sheets.
• Keeping all records up to date.
• Maintain complete and accurate accounts.
• Minimizing overall paperwork.
 Databases of Financial
Databases of
internal data external data DSS

Business
transactions
Transaction Databases
processing Financial
of valid
systems transactions MIS Financial
for each applications
TPS databases

Business
transactions
Financial statements
Financial
Operational Uses and management ES
Internet or databases of funds
Extranet Financial statistics
for control

Business Customers,
transactions Suppliers
Major categories of financial info
system-
1. Cash Management
2. Investment management
3. Capital budgeting
4. Financial planning
Cash management-
• Cash management system collects
information on all cash receipts and
payments of a company on a real time or
periodic basis. Such as daily, weekly or
monthly .
Investment management-
• Financial MIS helps in managing the money
invested by the firm in various investments like
shares, bonds and other securities.

• It also helps in determining expected returns

from various investment and evaluating their
performance.
Capital budgeting-
• Capital budgeting refers to decisions regarding
which is the best alternative for capital
expenditure( purchasing of land, machinery etc).

• It also helps in generating what will be the

expected returns and risk in various decisions of
capital nature.
Financial forecasting and planning-
• Financial forecasts concerning the economic
situation, business operations, type of
financing available, interest rates, and stoke
and bond prices to develop an optimal
financial performance of a business.
 Examples of Finance and Accounting
Information Systems
Systems from a Functional Perspective
System Description Organizational
Level
Accounts Track money owed Operational
receivable the firm

Budgeting Prepare short-term Management

budgets

Profit planning Plan long-term Strategic

profits
2.Production information systems-
• Production means transformation of Raw
materials into finished products for sale.

• A computer-based system that works in

connection with other functional information
systems to support the firm's management in
solving problems that relate to production and
manufacturing the firm's products.
MIS REQUIREMENT
Material
Mgmt

Inventory
Monitoring
Mgmt

Prod
MIS

Quality Resource
Planning
 Databases of Production
Databases of
internal data external data DSS

Business
transactions
Transaction Databases
processing Production
of valid
systems transactions MIS Production
for each applications
TPS databases

Business Quality control reports

transactions
Process control reports Production
Operational ES
Inventory reports
Internet or databases
Material reports
Extranet
Production schedule
output

Business Customers,
transactions Suppliers
Functions of production MIS-
1. Long Term Planning:
• This system helps in the planning the sequence
of production activities, plant location and its
layout aspects.
• Information needs for production planning
are:
(i) Sales forecasts,
(ii) Customer orders.
2. Annual Production Plan:
• These plans are drawn from previous sales ,
costs on labour with hiring and firing of
personnel etc. These plans are revised
periodically.

3. Inventory (Stock) Control:

• It is generally expressed in terms number of
units produced. It deals with preparation of lists
of inventory and production schedules.
4. Production Scheduling:
These decisions are to determine:
• what to make,
• when to make,
• how to make,
• how much time is required to make it,
• production plan,
• bill of materials providing the necessary
information for the preparation of production
schedules.
5. Dispatching:

• Production MIS helps in making the lists of

orders to be sent, time limit of orders etc.
Thus production information system is
a matter of planning and generating records for
decision-making.
MacNeice has subdivided these records into three
types:

A. Records of Basic Information:

• Blue Prints,
• Bill of materials,
• Time value of fundamental operations and
• Production routing.
B. Records showing what is available:

• Raw material records,

• Work in process,
• Semi-processed stock,
• Finished goods stock,
• Information about tools, jigs, fixtures, gauges
and personnel available,
• Machinery and equipment details
C. Historical Records:

• Records of production,
• Records of waste and reject,
• Records of machine performance,
• Records of sales and
• Records of absenteeism.
Benefits
 Reduced waste, re-work and scrap
 More accurate capture of cost-
• information (e.g.
• labor, scrap, downtime, and tooling)
 Increased uptime
 Reduced inventory, through the eradication of
just-in-case inventory
 Examples of Manufacturing and
Systems from a Functional Perspective
Production Information Systems
System Description Organizational
Level
Machine Control the actions Operational
control of machines and
equipment
Production Decide when and Management
planning how many
products should
be produced
Facilities Decide where to Strategic
location locate new
facilities