Abstract
The original aim of this project was the development and implementation of a Management Planning System, to be used for the day-to-day running and financial budgeting of the Dunlop Oil and Marine Division based at Grimsby. The system was to meet the requirements of both the division and the Dunlop Group.Initial research established that there would be a continued demand for oil until the early part of the next century. Thus, there should be a demand for the division's products for many years, confirming the need for better forecasting if the division is to make the most of the available opportunities in the face of growing competition.
The existing divisional management plan was based upon the sales forecasts, relying on the judgement of the management. This was not sufficiently accurate, so that alternative methods had to be adopted if results were to be improved. Further research indicated that the lack of information not only limited the accuracy of the current method, but also prevented the investigation of alternative approaches. It was therefore necessary first to develop a more appropriate information system.
Internal historical analysis and management reporting systems were developed to permit better monitoring and control of divisional performance and to form the basis of more systematic forecasting. To complement the internal system, market research procedures were established to supply external information from published statistics and field surveys.
With the time and resources made available by Dunlop, it has so far been possible only to develop the information system. This is the necessary foundation for the development of a more appropriate forecasting system and had not existed before the start of this project.
Date of Award | Oct 1979 |
---|---|
Original language | English |
Awarding Institution |
|
Keywords
- management information
- planning system
- growth market
- Oil