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Cost and Value of Information Decision Making

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Kinshook Chaturvedi
Kinshook Chaturvedi
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Cost and Value of Information and Decision Making
COST & VALUE OF INFORMATION ,[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],Time A B C PERFORMANCE
Value Cost Increasing Time Lag Cost/value of information
[object Object],[object Object]
Level of Detail Cost of Acquiring Information
Cost of Information ,[object Object],[object Object],[object Object],[object Object]
Types of Decisions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Types of Decisions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Simon’s Rational Decision Making Model ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
TYPES OF OUTCOME STAGES ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
AUTOMATED DECISION INFORMATION TO DECISION MAKER PROCESSOR Process Information in accordance with pre-determined DECISION RULES DATA BASE
Sales Forecasts Inventory Costs & Limits Customer Service Standards Procurement Lead Times, Costs Manufacturing Lead Times, Costs Transformation Lead Times, Costs Warehousing Lead Times, Costs Decision Rules Distribution Management System DATA BASE PROCESSO R INPUTS OUTPUTS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],DISTRIBUTION DECISIONS OTHER MGMT. REPORTS
Types of Decisions ,[object Object],[object Object],[object Object],[object Object]
Group Decision Making ,[object Object],[object Object],[object Object],[object Object]
Strategic Planning ,[object Object],[object Object],[object Object],[object Object]
Types of Problems ,[object Object],[object Object],[object Object],[object Object],[object Object]
IS to Improve Decision Making ,[object Object],[object Object],[object Object],[object Object],[object Object]
IS to Improve Decision Making ,[object Object],[object Object],[object Object],[object Object]
IS to Improve Decision Making ,[object Object],[object Object],[object Object],[object Object]
Cost and Value of Information Decision Making

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