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Economic evaluation of management information systems
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by D. F. Boyd
and H. S. Krasnow |
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IBM Systems Journal, Volume 2, Issue 1, pp. 2-23 (1963).
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This well-cited paper shows how information technology can be used to enhance business performance by maintaining control over a business system operating in a changing business environment. It describes an early stochastic business process model of a hypothetical manufacturing firm. The goal of the paper is to show that information technology can be used to improve business efficiency and performance.
The paper describes a simulation of a manufacturing firm using a modeling tool which was described in the very first issue of the IBM Systems Journal, “A general purpose systems simulator,” by G. Gordon, IBM Systems Journal 1, No. 1, 18-32 (1962). This tool was used to model shoppers in a supermarket. In a related paper, “Simulation in systems engineering” by E. C. Smith, Jr., IBM Systems Journal 1, No. 1, pp. 33-50 (1962) , the tool was used to study provisioning of processors in a computer complex for scientific applications (“a new philosophy of multiprocessing”) and for a teleprocessing system for a stock brokerage house.
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