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    Budgeting, Forecasting and Cost Saving-Project draft-EMBA-II

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    ahmadmujtaba005
    The document discusses budgeting, forecasting, and cost-saving techniques for companies. It outlines how budgeting allows strategic leaders to allocate funds to departments based on their needs for the year. Forecasting allows management to track revenue and performance. Cost-saving techniques refer to steps that save or optimize costs, like kaizen and lean management. The document will discuss specific budgeting and forecasting methods, cost-saving strategies, and how ERP systems like SAP can help with implementation. Key terms to be covered include budgeting, forecasting, cost savings, and process optimization.

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    Budgeting, Forecasting and Cost Saving-Project draft-EMBA-II

    Uploaded by

    ahmadmujtaba005
    5 views2 pages
    The document discusses budgeting, forecasting, and cost-saving techniques for companies. It outlines how budgeting allows strategic leaders to allocate funds to departments based on their needs for the year. Forecasting allows management to track revenue and performance. Cost-saving techniques refer to steps that save or optimize costs, like kaizen and lean management. The document will discuss specific budgeting and forecasting methods, cost-saving strategies, and how ERP systems like SAP can help with implementation. Key terms to be covered include budgeting, forecasting, cost savings, and process optimization.

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    Budgeting, forecasting and cost saving-Project draft-EMBA-II

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    The document discusses budgeting, forecasting, and cost-saving techniques for companies. It outlines how budgeting allows strategic leaders to allocate funds to departments based on their needs for the year. Forecasting allows management to track revenue and performance. Cost-saving techniques refer to steps that save or optimize costs, like kaizen and lean management. The document will discuss specific budgeting and forecasting methods, cost-saving strategies, and how ERP systems like SAP can help with implementation. Key terms to be covered include budgeting, forecasting, cost savings, and process optimization.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    5 views2 pages

    Budgeting, Forecasting and Cost Saving-Project draft-EMBA-II

    Uploaded by

    ahmadmujtaba005
    The document discusses budgeting, forecasting, and cost-saving techniques for companies. It outlines how budgeting allows strategic leaders to allocate funds to departments based on their needs for the year. Forecasting allows management to track revenue and performance. Cost-saving techniques refer to steps that save or optimize costs, like kaizen and lean management. The document will discuss specific budgeting and forecasting methods, cost-saving strategies, and how ERP systems like SAP can help with implementation. Key terms to be covered include budgeting, forecasting, cost savings, and process optimization.

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    © All Rights Reserved
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    of 2

    BUDGETING, FORECASTING AND

    COST SAVING TECHNIQUES:


    COMPANIES PROSPECTIVE

    Mujtaba Ahmad 2158112

    Bilal zafar 2158106

    Tasmia Sabahat 2158108

    Hasaan 2158111

    EMBA-II
    Intro to business Finance
    Budgeting, forecasting and cost saving techniques: Companies
    prospective

    Abstract: Everything revolve around money. Companies or organization in which we are


    working for our bread and butter just doing a business, irrespective of that what our job
    description is one way or other we are helping out our organization to meet their financial
    goals. Budgeting, forecasting and cost saving techniques that are commonly used especially in
    process industry. Budgeting basically allow the strategic position holders to allocate the specific
    amount of money to each department according to their need to perform various activities
    throughout the year while forecasting allow the management to track the position and revenue
    benefit during the tenure. Cost saving techniques refer to steps taken by each and every
    member of organization that allow company in saving money, or optimize the process or avoid
    the cost. There are numerous techniques and methods that are practically used by the
    companies in day to day activities for this. We will discuss each in detail. We will also discuss
    how we can improve the overall process of any process industry that can be beneficial to
    organization.
    Budgeting Methods and Forecasting: How much money any department wants to perform day
    to day activity in next year. Is there any up gradation? Revex vs capex? What method can be
    used by strategic position holder to allocate budget? How we will forecast it? All will be
    discussed in it.
    Cost saving: kaizen, lean management, TQM and many more terminologies used in corporate
    sectors to make process better, improve system quality and to save cost or avoid cost by
    making system optimize. What are these terms? How companies implement this? How we
    could make it better? All will be discussed in that section.
    ERP (Enterprise resource planning): The Sap: ERP software is main player in this process
    industry. SAP is one the most famous ERP software in this. We will also discuss its advantages
    and implementation.

    Key terms: Budgeting, Budget forecasting, Cost saving, cost avoidance, Revex, Capex Kaizen,
    TQM, Process optimization, ERP, SAP

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