Manufacturing Column > Stories about Cost Management: Key Points for Building a 'Budget Management System' in the Manufacturing Industry
Manufacturing Column > Stories about Cost Management: Key Points for Building a 'Budget Management System' in the Manufacturing Industry
Cost Management Anecdotes: Key Points for Building a 'Budget Management System' in Manufacturing Not only in manufacturing, transportation (logistics), and service industries, but also in most companies, regardless of the size of their systems, budget preparation activities are conducted to understand the expected revenue situation within the accounting period. In the majority of companies, the budget preparation period spans 3 to 4 months, involving many personnel; however, the accuracy of these budgets has shown significant discrepancies by the start of the accounting period, especially in recent economic downturns. Relying on outdated systems can lead to a slowdown in providing information to management, resulting in misdirection in corporate activities and a loss of trust in the system itself. Now is the time to improve what needs to be improved and to establish a new budget management system as soon as possible. (You can view the continuation of the column by downloading the catalog.)
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