Procurement is a function that has gained in prominence over the years and has become an increasingly important strategic link for many organizations. The general stages of purchasing sophistication are: 1. basic
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If you look at some of the activities performed by finance personnel with a critical external eye, you can often find people doing things for reasons that may no longer be valid.
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There are a couple of typical questions we explore when we’re looking for opportunity in engineering departments. Read more to find out.
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The main focus for performance improvement is to improve sales effectiveness and efficiency. In essence, can you sell more higher margin things at a lower total cost?
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The first functional area we will look at is marketing, which also happens to be one of the more difficult functions to assess. The reason marketing is tricky is because it is
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Most of the opportunities we have examined in this series have dealt with financial line items or at least fairly specific concepts. In the next 10 segments we will look a little
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The tenth and final profit driver we will examine is cash. Cash is of course the lifeblood of any organization and its importance becomes all the more pronounced when you don’t have
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The ninth profit driver we look at for opportunities is inventory. Inventory reduction tends to go straight to the top of every production executive’s priority list when interest rates are high. Even
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The eighth profit driver is Accounts Payable (AP). The AP function plays an important role in managing the cash flow cycles of the organization. The objective of most performance improvement projects is
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The seventh profit driver, accounts receivable (AR), sounds a little dull but is actually one of the more important barometers of the general health of the organization. AR can be a very
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