Traditionally any MIS system is there for one purpose to accurately describe what is going on to the decision makers in time to change things before too much damage is done. Without it, you may not find out about a problem until it is history after your accountant does the month end reports. With it, you can see up to the minute transactions, delays, conflicts of information, missed forecasts and any number of other "pending disasters".
Common ERP features that contribute to this up to the minute visibility are:
- Manufacturing – includes features for project and process management, engineering, scheduling, capacity management, engineering, material requirements planning, and quality management.
- Supply Chain Management – includes capabilities to support order entry, purchasing and procurement, inventory control, planning, goods inspection, and claims processing.
- Financial Management – includes functionality such as general ledger, cash management, accounts payable and receivable, and fixed asset management.
- Project Management – includes features for costing, billing/invoicing, time and expense management, and activity monitoring.
- Human Resource Management – includes capabilities to support hiring and staffing, payroll, training, time and attendance tracking, and benefits administration.