include such facilities. Marketing specialists have also developed a
number of packages which use advanced modelling methods to
predict the effect of advertising and other factors on consumer
sales.
3 New
product
development.
In assessing the viability of
a
new product
a short-to-medium term financial plan is usually needed. This is an
obvious application for a spreadsheet or financial modelling
software.
Production planning
Production scheduling and planning is a complex area, requiring
optimal planning to raw material stocks and finished goods stocks.
You also need to make sure that machinery is used
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BCS Academy Glossary Working Party, Arnold Burdett, Dan Bowen, Diana Butler, Aline Cumming, Frank Hurvid, Adrian Jackson, John Jaworski, Percy Mett, Thomas Ng, Penny Patterson, Marianne Scheer, Hazel Shaw, Alfred Vella, John Woollard, David Fuller