MIS:-

MIS can be defined as a system that provides information to support

managerial functions like Planning, organizing, directing, controlling.

Collects information in a systematic and a routine manner
which is in accordance with a well defined set of rules.

Includes files, hardware, software and operations research models of
Processing, storing, retrieving and transmitting information to the users.

This will improve the business in many ways:-

Facilitate the decision - making process by furnishing
information in the proper timeframe. This helps the decision - maker
to select the best course of action.

Provide requisite information at each level of management to carry out their
functions.

Help in highlighting the critical factors to the closely monitored for
successful functioning of the organization.

Support decision-making in both structured and unstructured problem
environments.

Provide a system of people, computers, procedures, interactive query
facilities, documents for collecting, sorting, retrieving and transmitting
information to the users.

System should capture :-
Inventory management software is a computer-based system for
tracking inventory levels, orders, sales and deliveries.

It can also be used to create a work order, bill of materials and other production-
related documents. Companies use inventory management software to avoid
product overstock and outages. It is a tool for organizing inventory data that before
was generally stored in hard-copy form or in spreadsheets. It is often associated
with and is similar to distribution software as distributors that can compete with
less cash tied up in inventories have a distinct advantage over their competitors.

Companies often use inventory management software to reduce their carrying costs
The software is used to track products and parts as they are transported from a
vendor to a warehouse, between warehouses, and finally to a retail location or
directly to a customer.

Inventory management software will help the owner run their business in
amny ways such as:-
Maintaining a balance between too much and too little inventory.
Tracking inventory as it is transported between locations.
Receiving items into a warehouse or other location.
Picking, packing and shipping items from a warehouse.
Keeping track of product sales and inventory levels.
Cutting down on product obsolescence and spoilage.
Avoiding missing out on sales due to out-of-stock situation