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Executive Information System Case Study
from: Adam SmithIncreasing revenues and controlling costs is paramount to the success of your business. In fact, any business that does not have a clear understanding of its cost structure and the revenues it is bringing in to cover their expenses is destined to fail. For a business to be successful its leader must have access to accurate and timely information so they can make sound business decisions. To this end many businesses rely on an executive information system to feed their executives this key information.
Most executive information systems can be customized to include the information that is most pertinent to your situation. An executive information system links to your enterprise system, allowing key managers and executives the ability to access time sensitive data and information that can have an immediate impact on day to day profitability.
Executive Information System Mini Case Study
Situation: Gold Rush Corporation relies heavily on its sales trends to predict future demand for the high quality gold watches that it manufactures and sells to jewelry and watch stores around the country. In the past the sales information has been passed on to production managers, sometimes up to month after large orders for popular watch styles have been ordered.
Problem: The production managers are grateful for the information they do receive from the sales department because they base most of their production estimates on these numbers. However, the production managers could avoid costly production overruns as well as shortages in product if they had the information readily available to them.
Solution: Gold Rush Corporation decides to implement an executive information system available to all of its senior level managers, including the production managers, that possesses information regarding real time sales and orders of Gold Rush’s products. Thanks to this new system production managers are able to more accurately estimate the inventory levels they must realize in order to achieve demand. As an added benefit, production managers have decided that the executive information system provides them with such valuable and accurate real time information that they hope to move to a just in time inventory model to cut down on holding costs.
Like the case study indicates, open dissemination of information through the executive information system can really enhance the efficiency of the corporation. As the company realizes better efficiency levels its bottom line should improve. Often times large corporations struggle with widespread distribution of information, however
, utilizing an executive information system can help eradicate some of the problems that accompany large companies.
ABOUT THE AUTHOR
Adam Smith is an information author for 10X Marketing, which specializes in Link Recruitment services. To learn more about employing an executive information system please visit Corda.com .
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