Article Abstract:
The installation of information technology is not a simple process that automatically leads to improvements in performance, but is the first step in a process that requires the refocusing of efforts by management to improve productivity. This is especially true in the area of material requirements planning (MRP) systems. A MRP system typically contains five key modules: capacity planning, master production scheduling, production accounting, requirements planning, and shop floor control. The effective management of an MRP system requires continual improvements. MRP systems often fail due to problems in the areas of batch sizes, data accuracy, information processing cycle time, and lead times.
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Article Abstract:
A comprehensive information resources management (IRM) policy is important for cost-effective management of information and a strategic tool for creative use of information for competitive success. A company should view its information resources as a valuable, fluid device. Components of an IRM program include: improving storage; setting retention schedule limits and destroying information when those dates are reached; and security, including production, storage, and retrieval of duplicate media. All information resources in a company should be unified under an information resources department. Only one percent of UK firms and 40% of US firms have IRM departments.
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Article Abstract:
UK companies are encouraged to provide non-financial information in annual reports. Such data would include the strategy for creating value and evaluating progress toward that goal, and identifying key value drivers.
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