ITM 102 Lecture Notes - Lecture 1: Hierarchical Organization, Numerix, Computer Hardware

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Robert Hudyma

Document Summary

Itm: chapter 1 information systems in business today. The role of information systems in business today. Improvement of efficiency to attain higher profitability information systems/technology an important tool in achieving greater efficiency and productivity. Walmart retail link system links suppliers top stores for superior replenishment system. Business model: describes how the company produce, delivers, and sells product or service to create wealth. Information systems and technology a major enabling tool for new products, services business models. Serving customers well leads to customers returning which raises revenues and profits. Intimacy with suppliers allow them to provide vital inputs, which lower costs. For e(cid:454)a(cid:373)ple, n(cid:455)gard"s i(cid:374)for(cid:373)atio(cid:374) s(cid:455)ste(cid:373) (cid:449)hi(cid:272)h li(cid:374)ks sales records to contract manufacturer. Improved decision making luck results in: overproduction, underproduction. Without accurate information: mangers must use best guesses, Also results in misallocation of resources, poor response times. Responding to customers and suppliers in real time. I(cid:374)dustr(cid:455) le(cid:448)el (cid:272)ha(cid:374)ges e. g. citi(cid:271)a(cid:374)k"s i(cid:374)trodu(cid:272)tio(cid:374) of atms.