Create and MIS reporting format for efficient reporting. (IT & Business Analysis Department)

Assignment Taken

QUARTER FINAL S3 | BUSINESS CASE SCENARIO 07 | FARM TO TABLE, Create and MIS reporting format for efficient reporting. (IT & Business Analysis Department)

Case Understanding

Case Understanding Fresh Grower is a Pune based company started by Chitranjan Desai, a business of procurement & delivery of Fresh Farm produces which will procure farm produces from nearby farmers and will directly deliver to consumers. concept of Farm-to-Table is that; produces must reach from FARM to Dining Table within 3 hours of harvesting. The over all process is as: • Harvesting • transporting to packing facility • Packing • transport to consumer’s place Mr. Chitranjan Desai wants to expand his business to at least 3 metro cities, in next 2 Years. We as a consulting firm would help Mr. Desai’s organization to do business process reengineering & strategically meet his current and future business expansion requirements

BCS Solution Summary

BCS Solution Summary So for Creating a MIS reporting format for efficient reporting the areas of Business Process and Mapping to be done as an initial step, along with the mapping and networking of departmental sequence needs to be clearly framed. MIS Reports for Fresh Growers should include the following as: MIS Reporting- FINANCE Statements such as Funds Statement Report, Cash flow Statement Report, Profit Report, Cost Reports, and Income Statement Reporting are included to understand the current financial position of the organization. Funds Statement Report; helps you to keep track of the funds and are usually created by the accounting department. Hence, inflow and spending of all funds are reported in this format. Cash Flow Statement Report; track the cash influx and spending. It helps the business operations team to keep a tab on all cash transactions. They are inter-referenced with the Funds Statement as the cash spent usually goes from fund sources. Cost Report; it helps report on costs incurred across all departments and gives a clear picture of the costs for an organization. Profit Report; helps the accounts team to project profit earned by the organization. It draws a comparison between the expected profit and the actual one generated. This is a great report to analyze factors leading to a loss situation. Income Statement Report; helps report on taxes, income, and balance sheet, thus providing the financial data in totality. Bill Payable; Payments due for future dates are categorized under the “Payable” type of reports. To navigate to the Payables screen, simply go to the gateway of Tally, then Display, then Statement of Accounts, then Outstanding, and finally to Payables. MIS Reporting -Sales Sales MIS Reports work similarly to the Profit report; that is to draw a comparison between the projected sales as well as the actual sales made, in providing a deep insight into how products and services are performing in the market. Sales Report including Sales Forecast; we need to report to the higher management about current Sales stats and also apprise them of the yearly and quarterly forecast, so you know how the good or service is doing. Include the details of the good, sales stats of good like quantity, revenue, number of orders placed for the good, total good sales. For the forecast reporting part, you can include the values/revenues and the margin expected for the next month, quarter, or for the year. Profit and Loss report Include month-on-month data on the Sales made and the Marginal Profit %. List down expenses such as Rent, electricity, water (in case it’s a brick-and-mortar set up), the total salary of employees, transportation costs if the company provides transport or an allowance instead, expenses incurred for business travel trips, or any other consumables. Include a separate tab for Sales Profit and Sales Expenses. MIS Reporting -Inventory For organizations dealin

Solution

 

BCS Solution Summary

So for Creating a MIS reporting format for efficient reporting the areas of Business Process and Mapping to be done as an initial step, along with the mapping and networking of departmental sequence needs to be clearly framed.

 

 MIS Reports for Fresh Growers should include the following as:

 

MIS Reporting- FINANCE

 

Statements such as Funds Statement Report, Cash flow Statement Report, Profit Report, Cost Reports, and Income Statement Reporting are included to understand the current financial position of the organization.

 

Funds Statement Report; helps you to keep track of the funds and are usually created by the accounting department. Hence, inflow and spending of all funds are reported in this format.

 

Cash Flow Statement Report; track the cash influx and spending. It helps the business operations team to keep a tab on all cash transactions. They are inter-referenced with the Funds Statement as the cash spent usually goes from fund sources.

 

Cost Report; it helps report on costs incurred across all departments and gives a clear picture of the costs for an organization.

 

Profit Report; helps the accounts team to project profit earned by the organization. It draws a comparison between the expected profit and the actual one generated. This is a great report to analyze factors leading to a loss situation.

Income Statement Report; helps report on taxes, income, and balance sheet, thus providing the financial data in totality.

 

Bill Payable; Payments due for future dates are categorized under the “Payable” type of reports. To navigate to the Payables screen, simply go to the gateway of Tally, then Display, then Statement of Accounts, then Outstanding, and finally to Payables.

 

MIS Reporting -Sales

Sales MIS Reports work similarly to the Profit report; that is to draw a comparison between the projected sales as well as the actual sales made, in providing a deep insight into how products and services are performing in the market.

Sales Report including Sales Forecast; we need to report to the higher management about current Sales stats and also apprise them of the yearly and quarterly forecast, so you know how the good or service is doing.

Include the details of the good, sales stats of good like quantity, revenue, number of orders placed for the good, total good sales. For the forecast reporting part, you can include the values/revenues and the margin expected for the next month, quarter, or for the year. 

 

 

 

Profit and Loss report

Include month-on-month data on the Sales made and the Marginal Profit %. List down expenses such as Rent, electricity, water (in case it’s a brick-and-mortar set up), the total salary of employees, transportation costs if the company provides transport or an allowance instead, expenses incurred for business travel trips, or any other consumables. Include a separate tab for Sales Profit and Sales Expenses. 

 

 

MIS Reporting -Inventory

For organizations dealing with goods, Inventory Reports provide data around the availability of stocks, items that aren’t moving, stocks location-wise, etc. This is helpful to track assets.

 

MIS Reporting -Management for Customers and vendors

An MIS report on outstanding payments and invoices from the customer’s perspective helps report on any unaccounted or deficit income.

 

MIS Reporting -Statutory Reports

Reporting is not always to higher management; certain reports need to be shared with tax and government authorities. These ensure regulatory compliance with rules and laws.

 

MIS Reporting -Payroll Reports

Reports that provide information around total CTC of the entire workforce or that of specific departments are categorized under Payroll reports.

 

MIS Reporting -Manufacturing Losses Reports

Manufacturing defects, production failure due to faulty machinery, or any natural calamity hampering the manufacturing would all be reported under this category of MIS report.

 

MIS Reporting -HR Reports

It includes reporting anything to do with the workforce from hiring or termination data to performance data, HR MIS reports cover a wide range of employee-specific data.

 

MIS Reporting -Manufacturing Report;

To report on all manufacturing data like goods, manufacturing date, Manufacturing batch, Manufacturing location, Manufacturing Date/Time, etc.

 

 

 

MIS Reporting -Production Report:

 Similar to Manufacturing, this is to report on all production-related data. The format would differ from company to company based on what they want to make a report.

 

MIS Reporting -Logistics Report:

 You can use MIS reports running analytical data reporting on logistics data as well such as Inventory, Transportation, Storage and Packaging, Production Planning, Forecasting of Demand, etc.

 

MIS Reporting -Scheduled Reports

data changes in real-time need to be monitored at a specific time of the day, say first thing in the morning or before the end of the day, scheduled MIS reports will enable to set parameters and the report will be generated automatically.

It also cuts down on manual intervention and errors due to human errors (say in setting wrong or incomplete parameters or entering incorrect data). 

These reports will help to monitor reporting data useful for immediate production where the spike in call volume or sudden interruption or decline in production can be a cause of worry. This reporting on further development could be useful to make amends in the system with constant monitoring so the process is seamless and smooth.

 

MIS Reporting in Tally

MIS report can be easily created with the help of Tally ERP.

 

For Fresh Growers the basis department could be as:

 

1. HR Reports: To maintain track of all the employees

2. Accounting Reports: To report on the current financial condition of the organization and the operational performance organization-wide.

3. Financial Reports: To report on the financial condition from the shareholders’ perspective.

4. Management Control Reports: Reports on budget, costs, income, etc., to help higher management get a picture of what’s going on.

 

 

 

 

Conclusion

Conclusion The format of generating MIS reports for Fresh Growers may depend on the kind of departments they work with and also how much resources you utilize to keep the departments running. A Good management information system can help generate valuable reports that can keep overall business information and records and provide a better insight to make well-educated business decisions in the long run. Please refer to the link for viewing the MIS FORMAT IN EXCEL https://drive.google.com/drive/folders/1xJt3XpKsJvPJhI6dRC_bmU-VFjwfjgRF?usp=sharing

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