Hande Company Signs Responsibility Document for 2009 Full-Budgeting Objectives
On February 27, Handtech Company officially launched its full-scale budget target responsibility program for 2009 at the Xi’an plant. General Manager Wang Zhanchao, along with over 50 mid-level managers, attended the signing ceremony. During the event, General Manager Wang reviewed the company’s budget management performance in 2008 and outlined key priorities for 2009. He emphasized that comprehensive budgeting and ongoing cost reduction have become central to the company’s long-term strategy. All departments were encouraged to develop detailed action plans aligned with the 2009 budget goals. Wang also highlighted the importance of proactive engagement from all teams to ensure the successful implementation of the budget and cost control initiatives, ultimately enhancing the company’s operational efficiency.
At the conclusion of the ceremony, General Manager Wang signed the 2009 full-budget responsibility agreement with department heads and members of the executive team. Since the initiation of comprehensive budget management in April 2008, Handtech has established a well-structured organization with clear roles and efficient collaboration. The company has developed 12 key systems, including the comprehensive budget process, resulting in over 30 million yuan in cost savings during the second half of 2008. This marks a significant advancement in the company’s budget management capabilities.
Driven by the goal of improving corporate performance, Handtech has continuously refined its budgeting approach. The company has implemented cost-saving projects across various areas such as technology, R&D, production, procurement, and management. These efforts have led to the development of an integrated budget system, supported by a robust cost control framework led by R&D and technology. A new budget control model, centered on program management and efficiency, is now being rolled out.
To further strengthen its budgeting practices, Handtech has organized multiple training sessions and enhanced the monitoring of business plans. The comprehensive budget office holds weekly meetings to track progress, resolve issues, and ensure alignment across departments. At the end of each month, cost-saving projects are reviewed and verified promptly. For 2009, the company has identified three major focus areas: optimizing bridge capacity utilization, reducing costs through technological innovation, and accelerating product structure adjustments. As of now, the full budget for 2009 has been finalized following board resolutions, and all related activities are actively underway.
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