Logistics/Purchasing/Inventory - Controllers

The controller and the finance department are critical links in a company’s supply chain. As such, they can play a strong role in ensuring cost-effective supply chain management, says Keith D. Dabbs, MBA, CMRP, APM, Senior Manager of Procurement and Sourcing at Riverside Health System, a healthcare company that has earned awards for supply-chain management excellence.

“The controller’s awareness of the supply chain enhances the … Read More

Financial operations professionals seeking effective ways to achieve improvement in terms of accurate and speedy vendor payments, error-free transactions, and value-added vendor relationships would do well to focus on aligning AP with purchasing, according to Penny Weller, PhD, CMA, Senior Director, North American Advisory Practice Leader, Global Business Services, The Hackett Group.

Weller has many years of experience in AP and other finance are… Read More

A common myth about purchasing cards (P-cards) is that they are easy targets for fraud and employee misuse. The pervasiveness of this myth may have convinced some organizations to resist their use.

The reality is that purchasing card programs are highly reliable. The most recent IOFM P-card survey reveals that only 27.7 percent of respondents have ever witnessed misuse and just 16.9 percent have ever been victims of fraud (see Exhibits 1 and 2).… Read More

Controllers can use the information from two Institute for Supply Management (ISM) reports to evaluate their investments in inventory. For the seventh consecutive month, manufacturers’ inventories grew—and at a slightly faster rate, according to the January Manufacturing ISM Report on Business. ISM’s Manufacturing Inventories Index registered 52.4 percent. Meanwhile, ISM’s Non-Manufacturing Inventories Index registered 49...… Read More

Warehouse Management Costs Nearly a third of companies in a recent research benchmarking survey identified rising operating expenses as one of the top pressures prompting them to take a closer look at warehouse management and identify ways to contain operating costs and maximize their use of resources (see Exhibit 1). “Companies are looking both to...… Read More

Manufacturers, distributors, and retailers will overspend more than $415 billion in 2010, according to estimates by NPI, a spend man­agement services firm focused on delivering supply chain savings. NPI calculated the figure based on a mid-year review of spending trends and supplier pricing. It found that the top areas of overspending in supply chain organizations...… Read More

A hot topic in many finance departments has been whether to move to international financial reporting standards (IFRS) from U.S. accounting standards (GAAP). In late 2011 the SEC—after initially signaling it could mandate such a change—postponed any decision as it continued to study the issue. For the many controllers whose companies use last-in, first-out (LIFO)...… Read More

Volatile and rising commodity, supply chain, and energy costs constitute a major risk of doing business in today’s economy. Since procured costs typically constitute between 25 percent and 60 percent of an organization’s total costs, it follows that controllers able to implement a comprehensive procurement strategy to manage such risk can both boost margins and...… Read More

In partnership with finance, today's procurement function is increasingly moving beyond its traditional role of acquiring goods and services at the lowest possible price and leveraging its expertise to help optimize cash and capital across the organization’s entire supply chain. Learn how your procurement function can keep up with this transformation.

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In partnership with finance, the procurement function at many US businesses today is becoming

Finance organizations that wish to optimize their procure-to-pay (P2P) processes need to focus on achieving “true straight-through processing (STP).” "STP allows invoices to travel from the supplier’s billing system straight through AP to payment,” says Danny Thompson, Vice President—Strategic Account Relationships at OB10. “Payments consistently occur on time—and on-time payment allows organizations to capture discounts...… Read More

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