Management information system use by KFC Management Information Systems (MIS) is the term given to the discipline focused on the integration of computer systems with the aims and objectives on an organization. Each KFC outlet use MIS in accounting, knowing production, and very useful in formulating HR policies which helps them to rate their employees. The development and management of information technology tools assists executives and the general workforce in performing any tasks related to the processing of information.
MIS and business systems are especially useful in the collation of business data and the production of reports to be used as tools for decision making. With computers being as ubiquitous as they are today, there's hardly any large business that does not rely extensively on their IT systems. However, there are several specific fields in which MIS has become invaluable. MIS systems can be used to transform data into information useful for decision making. Computers can provide financial statements and performance reports to assist in the planning, monitoring and implementation of strategy.
MIS systems provide a valuable function in that they can collate into coherent reports unmanageable volumes of data that would otherwise be broadly useless to decision makers. By studying these reports decision-makers can identify patterns and trends that would have remained unseen if the raw data were consulted manually. MIS systems can also use these raw data to run simulations – hypothetical scenarios that answer a range of ‘what if’ questions regarding alterations in strategy.
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For instance, MIS systems can provide predictions about the effect on sales that an alteration in price would have on a product which is very useful for KFC future development. These Decision Support Systems (DSS) enable more informed decision making within an enterprise than would be possible without MIS systems. Not only do MIS systems allow for the collation of vast amounts of business data, but they also provide a valuable time saving benefit to the workforce.
Where in the past business information had to be manually processed for filing and analysis it can now be entered quickly and easily onto a computer by a data processor, allowing for faster decision making and quicker reflexes for the enterprise as a whole. Management by Objectives While MIS systems are extremely useful in generating statistical reports and data analysis they can also be of use as a Management by Objectives (MBO) tool. MBO is a management process by which managers and subordinates agree upon a series of objectives for the subordinate to attempt to achieve within a set time frame.
Objectives are set using the SMART ratio: that is, objectives should be Specific, Measurable, Agreed, Realistic and Time-Specific. The aim of these objectives is to provide a set of key performance indicators by which an enterprise can judge the performance of an employee or project. Benefits of MIS The field of MIS can deliver a great many benefits to enterprises in every industry. Expert organizations such as the Institute of MIS along with peer reviewed journals such as MIS Quarterly continue to find and report new ways to use MIS to achieve business objectives.
KFC ‘s Core Competencies Every market leading enterprise will have at least one core competency – that is, a function they perform better than their competition. By building an exceptional management information system into the enterprise it is possible to push out ahead of the competition. MIS systems provide the tools necessary to gain a better understanding of the market as well as a better understanding of the enterprise itself. Enhance Supply Chain Management Improved reporting of business processes leads inevitably to a more streamlined production process.
With better information on the production process comes the ability to improve the management of the supply chain, including everything from the sourcing of materials to the manufacturing and distribution of the finished product. Quick Reflexes As a corollary to improved supply chain management comes an improved ability to react to changes in the market. Better MIS systems enable an enterprise to react more quickly to their environment, enabling them to push out ahead of the competition and produce a better service and a larger piece of the pie.
These factors help KFC to work smoothly and efficiently as we already known that they are the only fast food chain which is selling fried chicken in which they are specialized. MIS systems let the KFC management: • To capture information and store it, whenever they are making bills it helps them to count sales per day, per week and per month because a copy of the bill is stored in the computer. • Access stored information easily and manipulate it for the needs of their clients’ while billing or taking order they just enter the code of the product requested at that time and the quantity demanded.
Eg-Product code Product name Product price (in Rs. ) 01 Small Coke 20 02 Medium coke 35 03 Large coke 45 04 Small coke+ Lollipop Chicken 65 05 Fried Chicken tub(small) 105 06 Small French Fries 25 07 Large Fries 45 08 Chicken Burger 25 09 Fried Chicken tub(large) 145 10 Veg. Burger 20 In KFC the above mentioned kind of information is stored in each computer that they use to maintain is SAP-sale module . They given codes to their 45 products just by entering the code the product name comes out with cost on the screen. • Control flow of information into, around and out of the systems. Work within legislation such as the Data protection Act. • Manage resources this is a very important function as every day inventory is recorded and therefore resources could be managed. • Produce reports for themselves so that they can compare their own performances with their own and other. • Maintain records needed for quality control so that the success story of all the employees can be appraised. • Respond confidently to the demands of the Common Inspection Framework MIS help them because they now easily check when the last stocking was done. Manage and track employee records of work, achievement and progression for promotions. • Record and track outcomes. • Manage marketing information to further improve sales.. • And a host of other information related functions. If Management Information Systems are flexible, and relate to the needs of the organization, the clients and the curriculum that they are delivering, then they work well and effectively. One has to be sure that, whatever systems you use, they suit your purposes and can be customized to do so, are easy to use and allow rapid data entry with rapid and flexible access for reporting purposes.
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Management Information Systen Use by Kfc. (2017, Mar 10). Retrieved from https://phdessay.com/management-information-systen-use-by-kfc/