A Critical Evaluation of Budget Practices Applied in the Manufacturing Sector for Optimal Production

M. M. Manyuchi, N. Sukdeo

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

This work focused on the assessment of budget practices applied in the manufacturing sector. Two companies in the sector, Company A and Company B were used as the case studies where the budget implications for producing 100 500 pallets of a lager beer and 200 000 pallets of baby cereal respectively. The budget planning process, budget development, types of budget to be used were discussed. The short range type of budget over a monthly period was chosen. From the analysis: the budget implications in the manufacturing sector are highly depended on the direct materials, direct labor and plant overheads budgets.

Original languageEnglish
Title of host publicationProceedings - 4th European Rome Conference 2021
EditorsMario Fargnoli, Mara Lombardi, Massimo Tronci, Patrick Dallasega, Matteo Mario Savino, Francesco Costantino, Giulio Di Gravio, Riccardo Patriarca
PublisherIEOM Society
Pages421-431
Number of pages11
ISBN (Print)9781792361272
Publication statusPublished - 2021
Event4th European International Conference on Industrial Engineering and Operations Management, IEOM 2021 - Virtual, Online
Duration: 2 Aug 20215 Aug 2021

Publication series

NameProceedings of the International Conference on Industrial Engineering and Operations Management
ISSN (Electronic)2169-8767

Conference

Conference4th European International Conference on Industrial Engineering and Operations Management, IEOM 2021
CityVirtual, Online
Period2/08/215/08/21

Keywords

  • Budgeting practices
  • Manufacturing sector
  • Monitoring
  • Planning

ASJC Scopus subject areas

  • Strategy and Management
  • Management Science and Operations Research
  • Control and Systems Engineering
  • Industrial and Manufacturing Engineering

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