This large listed Manufacturing business produced their high-end product range of measurement equipment in a single factory, with an integrated management team covering Manufacturing, Purchasing, Logistics, Engineering. The production process was extremely complicated and the products took between 4-16 weeks to assemble, with many orders for the most expensive machines involving serious customisation. Because production
Category: Budget
When it comes to budgets, most people think about numbers and crunching the numbers to make sure everything adds up. However, there is a psychology to budgeting that goes beyond the numbers. When communicating budgets to employees, it is important to understand how people react to and process information. This can help you tailor your
Sales forecasting is the process of estimating future sales. It is a key part of budgeting and is essential for making informed decisions. A number of different methods can be used to forecast sales. The most appropriate method will vary depending on the products, services and markets involved. In this article we discuss the best
Your annual budget is a primary tool for managing your finances. It helps you plan and prioritize your spending, identify areas of excess and find alternate ways of doing business that save you money. A business budget can help you set goals, fix problems and celebrate success. Above all, a well-crafted budget can help ensure
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The CFO’s Guide to Budgeting
It’s the CFO’s favourite time of year – budget time. The time when you build the most important tool for managing your business for the coming 12 months. Your budget shows the financial results you want to achieve, but more than that – it is your means to motivate, coordinate, and ultimately succeed. In this