A Comparative Study on the Use of Decision Support System
Added on -2019-09-24
Decision support system helps the decision makers in compiling the important data in a manner that provide information to take right decisions (Power et al, 2015). Some of the proponents of decision support system define it as any form of system that aid in decision making (Shi et al, 2015). The decision support is the appropriate tool for the project that has been taken into consideration as it will help the decision makers in understanding the areas that need attention and can be improved by taking specific action (Palander and Vouti
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Decision support system helps the decision makers in compiling the important data in a manner that provide information to take right decisions (Power et al, 2015). The use of various raw data and other personal knowledge are brought together for the identification of specific problem. There are two perspectives towards the decision support system (Gunasekaran and Ngai, 2012). On one hand where the academicians consider the DSS as the helpful tool that aid in decision making process, on the other hand the individuals within the organizations view it as the facilitator in organizational processes. Some of the proponents of decision support system define it as any form of system that aid in decision making (Shi et al, 2015). The tool is focused towardshelping the upper management in addressing the areas that are not well structured and need attention. There are various analytical techniques that are employed to compile, arrange, and assess the raw data in a presentable and understandable form. The decision support system helps the management in forming flexible and adaptable decisions in the ever changing environment. The decision support is the appropriate tool for the project that has been taken into consideration as it will help the decision makers in understanding the areas that need attention and can be improved by taking specific action (Palander and Voutilainen, 2013). It will help in identifying the critical areas and make informed decisions. Based on the scenario analysis, it can be stated that Supplier markup would be the most appropriate for the business. The reason is the total sales. If the scenario six is taken into consideration, the profit can be seen at $736, 1335.80 which is appreciable well. The choice of markup type impacts the selling price of the product. A high markup will scare the customers and they would prefer to purchase from the competitors. Therefore, selection of right markup is imperative for the business success.
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