Budget Generation

November 19, 2020 09:33

Budget generation allows the user to use the Tactics that have been budgeted and Operations that have a frequency set within a location to produce a budget. The budget can be generated for a pre-defined duration and be deconstructed by years or a customisable budget period. It also allows you to create ‘tags’ to record historic data. Running validations ensures data integrity and successful budget generation.

There are three prerequisites to be able to successfully generate a budget:

Tactics and failure modes;
Packaging’s maintenance strategies setup and assigned; and
Production allocated to the asset.

Note

Refer to the article on Production for more information allocating a Production and Forecast Dates.

Generating a Budget

To generate a budget:

Choose an item from the Hierarchy, select the Budget Generation module and then the Generate Now button.
Enter the appropriate parameters for the budget you want to generate, and then select Queue Generation. Ancillary Materials (%) is an additional flat percentage cost applied to all materials in this budget generation. Data State refers to if you want to generate working state Tactics and Packaging (Active) or only Finalised. Generate For enables users to generate all locations or only Stale (ungenerated, stale, or locations with errors).

This loads all the data for the location you are working and will start processing your budgeting configuration onto the data.

Note

Please remember to select Reload to get an update on the progress of the Budget Generation.

When you have reloaded the section, you will be presented a generation bar and message to indicate if the budget was successful.
1. Green: Indicates the generation at this location has been successful.
2. Yellow: Indicates that the data has gone ‘stale’. This infers that the data for this Location has been changed or updated, and the currently generated data does not reflect the most recent values.
3. Red: Indicates that there has been an issue with the generation. This can indicate that one of the Opex Validations has failed or that there was an error during generation. Refer to the article on Running Budget Validations for more information.

You can filter to show each type of generation (Completed, Stale, Error) by selecting the wanted value at the top of the screen. The Selected filter value will be Bold.

The process of generating a budget is also demonstrated in the video tutorial below:

Creating a Tag

Creating a Tag allows you to store the data for the currently generated budget. This will allow you to store it as Historic Data and compare it with future results. To create a tag, ensure your Budget has been generated for this functional location, and select the Create Tag button. Insert a name for your generated budget and then select Save.

Note

If a tag is created at a high level, all the children of the asset will also get tagged with the same name and the same data. You currently cannot view the specific data of a child from the parent’s tag.

Viewing Historic Data

Once you have started creating Tags for your generated budgets, you can start selecting your tagged budgets to view the different budgets. To view historic data, select the drop-down and then select your Tagged Budget.

Once you have selected your new budget. The screen will reload and show your new data values. You can now explore the budget, view your reports or your Total Cost of Ownership and export using this selected data set.