Management Information (Mi)
Management Information (MI) is data that is used by managers to make decisions about how to run their department or company. This information can be in the form of financial reports, sales figures, customer surveys, or any other data that can be used to improve the way a company does business.
MI plays an important role in procurement because it helps managers understand where they are spending most of their money and what areas they need to cut back on. By having accurate and up-to-date information on hand, Procurement Managers can save their companies a lot of money.