The Value Of Information Coursework Example

The Value of Information
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The Value of Information
Information can be defined as facts learned about the sequence and patterns of something. The maximum price paid by a particular person for knowing a certain doubt before making a decision is the value of information. In that case, information sharing is a crucial component of organizations value chain. It helps acquire high-quality products which are then used as raw materials in the organization (Tayur, Ganeshan & Magazine, 2012).On the other hand, visibility involves the objective viewing of organizational activities such as processes, events, and transactions.
Information sharing and visibility differ in various aspects. Whereas information sharing helps pass important information through various organizational sections, visibility helps examine activities and make rational decisions. Information sharing enables businesses to get a clear impression of issues which are important to the organization. The information may be related to production, market, sales or value chain. For the case of visibility, processes are analyzed, and their trend, functionality, and outcome identified. This information helps in making changes which promote quality and efficiency in the business.
Information sharing is key to problem-solving. Through it, organizations can identify gaps in various areas. Since it is achieved through communication, it helps think critically about issues and formulating tactical measures (Tayur, Ganeshan & Magazine, 2012).

These measures are used to achieve organizational targets. Conversely, visibility helps in employing new strategies in the organization. It enables the management to see the effectiveness of certain activities and refine them. Through it, organizations discover the most appropriate culture and adopt it. In turn, this leads to exemplary performance.
Even though information sharing is beneficial to organizational supply chain since it enables them to achieve most of their targets especially those associated with the sourcing of products as well as marketing and sales it is also affiliated with some demerits (Johnson & Whang, 2002). The information shared may be valid or not depending on the source. In instances where the information shared emanates from incredible sources, then the organization can suffer detrimentally. The reason behind this is that businesses can end up using the information to make crucial decisions. In the long run, these decisions which rely on invalid information causes significant losses as far as procurement, production, quality, and profitability are concerned.
References
Johnson, M., & Whang, S. (2002). E‐business and supply chain management: an overview and framework. Production and Operations management, 11(4), 413-423.
Tayur, S., Ganeshan, R., & Magazine, M. (Eds.). (2012). Quantitative models for supply chain management (Vol. 17). Springer Science & Business Media.