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Role of IT in Business Management - Essay Example

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Summary to essay on topic "Role of IT in Business Management"
The advent of Information Technology to Business has drastically changed lifestyles. This change has taken its effect on individuals and businesses alike. Corporations are dependant on IT for successful completion of various business activities. E-Commerce is the latest revolution in IT which allows companies to exploit the power of the Internet to boost their sales…
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Download file "Role of IT in Business Management" to see previous pages... These are namely: (Angell, 1991)
Information technology has helped organizations in managing their resources efficiently and to produce the maximum throughput. Information technology has become an integral part of any organization small or big. This is due to the fact that any organization will have to make critical decisions when it comes to marketing.
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Information technology when implemented in the following areas of business plays a big role in improving the organization's market hold:
Supply Chain Management: Any organization has to take important decisions regarding their products as to what to supply, how much to supply, how to supply and where to supply. Supply chain management can be divided into three main flows: Product Flow, Information Flow and Finance Flow. All this information is stored in databases and data warehouses. This information retrieved and fed to SCM application programs to be analyzed. SCM software has algorithms to determine the best way to fill an order and to track the product status, etc.
E-Commerce: Many people nowadays prefer buying products over the internet rather than buying from a retail outlet. Organizations can use internet to sell their products which reduces the paper as well as the manual work to a large extent. ...Download file "Role of IT in Business Management" to see next pagesRead More
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