Inf1505 Exam Pack 2023

What does LIS stand for ? {Ans: Logistics information system}What does MFIS stand for? {Ans: Manufacturing information systems}What does PIS stand for? {Ans: Personnel information system}Business Intelligence {Ans: giving historical, current and predictive views of business operations and environments thus giving organisations a competitive advantage}Information process component {Ans: Creates the most useful info for decision making that will grow the business}Transaction-processing systems {Ans: TPS focuses on data collection and processing}What does HRIS stand for? {Ans: Human resource information system}Information Technologies {Ans: support information systems and use the internet, computer networks and database systems, POS systems and RFID tags}Data {Ans: Raw facts, Includes both internal and external data}Information helps manage the four M's of resources. What are the for M's of resources? {Ans: Manpower, machines , materials and money}What does MFIS help do? {Ans: >Ordering decisions >Product cost calculations >Space utilisation >The bid evaluation process used with vendors and suppliers >Analysis of price changes and discounts}Computer literacy {Ans: a skill using productivity software and having knowledge of hardware and software, the internet and collaboration tools}What does FIS help do? {Ans: >Improve budget allocation >Minimising capital investment risks >Monitoring