For the first time, the cost of fuel climbs to the top of the list.
Kate O'Sullivan, CFO.com | US
July 11, 2008
Wiser finance executives will push for a company-wide effort to measure and manage energy consumption. It will be far better to proactively get ahead and address energy volume (internal demand) and rate (purchasing contracts). What is amazing is that only the airlines and transportation firms have learned the lessons of not hedging prices and reducing usage (i.e. no more on-board blankets and magazines).
Posted by James Lee | July 18, 2008 01:27 pm
There is still opportunity for companies to streamline operations, even within manufacturing, where most companies tend to focus efficiency programs. Unfortunately, it is at points where we hit economic crises that we get creative about searching for these opportunities. This is one area where the Finance team has the chance to take a leadership role in driving change within your organization. Finance teams that have access to both the financial and operational data have a unique perspective into the entire business model. Who better to be able to identify opportunity, model scenarios and impacts to internal and external stakeholders, and educate line of business teams on potential areas for improvements across business lines? The Global Business Outlook Survey provides a bleak picture for the economy, with raised prices and layoffs in the forecast. But it is exactly at these points when the true value of the innovative CFO can be felt across the organization. Ours is the only team that has access to the financial and operational data, combined with the tools to analyze and model the impacts of potential scenarios on the business. By working with the executive team and lines of business, we can explore creative improvements or alternatives to current processes and company business practices. The opportunities are myriad. Kimberley B Star Analytics Financial Systems Innovators blogger
Posted by Kimberley Bermender | July 18, 2008 01:01 pm
It is interesting that CFOs still do not have IFRS on their radar as a major issue. I guess you have to deal with the big issue of gas prices first? I am about to issue ablog on this pressing problem - the price of gas gives one gas! Global competitiveness should be a concern - a consistent set of reporting standards is a key part of this. The IFRS Exorcist (copyright)
Posted by Darla Sycamore | July 11, 2008 03:31 pm© CFO Publishing Corporation 2009. All rights reserved.