Budget 2018

Here are some examples:

 

1.How much data to collect

Some organizations like to collect more data.  Information by SKU and customer is needed to plan production capacity and staffing, they argue.

Those who do not collect detailed data argue that it is a guess anyhow and is better to use detailed historical data.

Both arguments make sense. A good way to go about it is to answer this question:

"What are we going to do with all this data?"

Process (50% of difference at Best-in-class companies) 

2. Agreement prior to submission. 

For global consolidations, it's normally better to try to agree on issues that require more time separately and prior to submission/meeting. These are some of the topics:

  • Volume

  • Pricing

  • Expenses

  • Staffing (hiring and salary increases)

3-Link to Strategic Plan

To ensure that the Strategic Plan targets are realistic, it's best to automatically use that information to populate the Budget.