In manufacturing, there are four key features related to production: speed or ti

Question

In manufacturing, there are four key features related to production: speed or timing, simplicity, and flexibility. Information technology is used in areas such as marketing for frequently updating buyer databases, target market and media analysis, survey design and analysis and multimedia promotion design. One risk with strategic development of information systems is that at some point, your competitors will follow and implement a similar system. Over time, you will be forced to expand your system and provide additional features.

Explanation / Answer

Yes, it is true that information system has to be dynamic in nature and must be expanded as per market dynamics. The information in current era is the most vital thing for organizational success. The power of data analytics is used by almost all major firms in order to correctly understand demand patterns and take best possible action well in advance. It is important for both Supply Chain and marketing, In Supply Chain, it can be used for predictive analysis and better forecasting. In Marketing, it is used to capture vital customer related data.

Thus, to be competitive and have as strategic advantage in long term, it is crucial to expand and add additional features

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