THE SIXTH CHAPTER

       So for the sixth chapter we learn about VALUING ORGANIZATIONAL INFORMATION which is very interesting .

                                             ORGANIZATIONAL INFORMATION

 Employee must be able to obtain and analyze the many different levels, formats, and granularities of organizational information to make decisions . Employee will need to compare these different types of information for what they commonly reveal to make strategic SCM decisions. Successfully collecting , compiling, sorting, and finally analyzing information from multiple levels in varied formats, exhibiting different granularity can provide tremendous insight into how organization is performing.

                                          THE VALUE OF TIMELY INFORMATION

Timeliness is an aspect of information that depends on the situation . In some industries , information that is a few days or weeks old can be relevant while in other industries information that is a few minutes old can be almost worthless.
Real-time information is immediate , up-to-date information , while real-time system is provides real-time information .

                                         THE VALUE OF QUALITY INFORMATION

Business decisions are only as good as the quality of the information used to make decisions . Characteristics of high quality information include :

• Accuracy
• Completeness
• Consistency
• Uniqueness
• Timeliness

Example of low quality information :

• Missing information
• Incomplete information
• Duplication information
• Wrong information
• Inaccurate information

                         UNDERSTANDING THE COST OF POOR INFORMATION

The four primary sources of low quality information include  :

• Online customers intentionally enter inaccurate information to protect their privacy .
• Information from different systems have different entry standards and formats
• Call center operators enter abbreviated or erroneous information by accident or to save time
• Third party and external information contains inconsistencies , inaccuracies and errors . 

Bad information can cause serious business ramifications such as :

• Inability to accurately track customers , which directly affects strategies initiatives such as CRM and SCM.
• Difficulty identifying the organizations 's most valuable customers.
• Inability to identify selling opportunities and wasted revenue from marketing to nonexisting customers and nondeliverable mail.
• Difficulty tracking revenue because of inaccurate invoices.
• Inability to build strong relationships with customers which increase buyer power.

                          UNDERSTANDING THE BENEFITS OF GOOD INFORMATION

High quality information can significantly improve the chances of making a good decision which can directly impact an organization's bottom line. High quality information does not automatically guarantee that every decision made is going to be good but it ensure that the basis of the decisions is accurate.


       Hopefully this information will give benefit to you and hope that you are excited for the other new chapter !

Thank you again :)