The Role and Importance of Material and Financial Planning in a Manufacturing Company of Special Importance for Defense

Abstract

The process of continuous improvement of enterprise management system indicates a wide range of activities to be undertaken to achieve the level of competitiveness that allows you to take a strong position on the market. High dynamic business environment and increased competitiveness in the market are forcing executives to the use of such instruments management that assist the smooth running of business processes and contribute to the successful achievement of its objectives. The purpose of this article is to present the role of material and financial planning in a manufacturing company of special importance for the defense. Material and financial plan is a planning document, prepared on a monthly basis, enabling the planning of activities in a given year. Developed within a document activities and plans, both strategic and operational, correspond with the current strategy. The purpose of the document - material and financial plan is to prepare a comprehensive action plan for the financial year. It is laid down in the operational objectives in specific areas (sales plan, a plan of research and development- implementation plan of investments and renovations, financing plans), taking into account existing resources and expertise enrolling in the overall strategy of the company. A document in the form of the budget in a simple way allows for proper planning and monitoring the progress of its implementation in a given period.