Topic: How Companies "Mint Money" through an Effective and reliable Supply Chain
Description:
Currently and in the past, a company’s commitment to sustaining an effective and reliable supply chain remains a low priority and is not a strategic focus.
Any action beyond the basic threshold of transactional purchasing and receiving supplier recognitions through seemingly low percentage rebates and gimmicks is seen as admirable but superfluous to the primary aims of the enterprise. And, it is ubiquitous especially in family office businesses and low-mid tier companies as their focus tends to be initially and appropriately on the top-line to grow their business rather that profitability in parallel.
This longtime status quo is changing quickly. In the modern marketplace, organizations don’t embed an effective and reliable supply chain in their strategies as a matter of choice, but as a matter of competitive necessity.
A major factor driving this shift is the rising consumer demand for more reliability of sustaining the delivery of quality and cost- effective products across a wide range of industries. Clearly, the success of any company initiative requires close collaboration and synchronization with companies across the supply chain. Failure to do so could place a company’s customer satisfaction performance and financial performance at significant risk.
Unlocking value through thru effective procurement can immediately translate into sizable financial and commercial benefits, particularly over the longer term. Such benefits can include achieving lower operating costs while providing a distinct competitive advantage to themselves, their suppliers and their customers. Hence, the definition of a reliable supply chain.
Because of its relationships with suppliers and internal customers, procurement is in a position to assume a strategic organizational role and become central in a firm’s EBITDA endeavors. However, recent research highlights procurement’s lack of involvement in a company’s strategic plan discussions (Villena, 2019). Also, buying companies often make little effort to communicate the importance of profitability requirements directly with their tier-one suppliers', personnel and beyond.
This presentation will provide some insights on seven capability pillars that if practiced can help companies change this paradigm successfully. And, how companies can fulfill their potential as world class, while contributing an exponential impact on their financial goals, growth and scaling objectives.
Author: Tawnya Bond
Tawnya Bond is a seasoned global operations and supply chain executive with a history of delivering transformational results across Fortune 100, Fortune 500, private/family-owned, private equity, and nonprofit organizations. With expertise in sourcing, procurement, post-merger integration, and performance management, she has driven major cost savings and business growth—helping grow company revenues from $150M to $650M while cutting direct material costs by 40%.
She has led global expansion initiatives across Asia and Latin America, overseen $30M+ in annualized savings through cost-reduction efforts, and supported multi-year platform growth strategies as a PMO Director and interim CIO. Tawnya also serves on nonprofit boards and advises private equity firms.
She holds an MBA from UC Irvine’s Paul Merage School of Business and a BS in Supply Chain Management from Arizona State University. Tawnya brings deep insight and hands-on experience to every engagement, making her a trusted leader in operational transformation.
Please login to RSVP to meetings, so you can benefit from your membership status. Login
RSVP | Subject | Date / Time |
Attendees | Status | Suggested Donation | |
---|---|---|---|---|---|---|
Reserve A Spot | How Companies "Mint Money" through an Effective and Reliable Supply Chain |
Apr 17
6:00pm - 7:30pm US/Eastern |
5 | Not registered | Free | |
Building a Resilient Finance Function in Manufacturing |
Mar 20
6:00pm - 7:00pm US/Eastern |
69 | Not registered | Free | ||
Data-Driven Web Strategy |
Feb 20
6:00pm - 7:00pm US/Eastern |
34 | Not registered | Free | ||
Lean Six Sigma Manufacturing-Minded Marketing |
Oct 17, 2024
6:00pm - 7:00pm US/Eastern |
23 | Not registered | Free | ||
Digitalization tools in Manufacturing |
Aug 15, 2024
6:00pm - 7:00pm US/Eastern |
31 | Not registered | Free | ||
RPA in Manufacturing |
Jun 20, 2024
6:00pm - 7:00pm US/Eastern |
18 | Not registered | Free | ||
FP&A in Manufacturing: A modernization use case |
May 16, 2024
6:00pm - 7:00pm US/Eastern |
78 | Not registered | Free | ||
Beyond Premiums: Manufacturing CFO Leaders Unlocking Fruitful Opportunities with Integrated Risk Management |
Jan 18, 2024
6:00pm - 7:00pm US/Eastern |
15 | Not registered | Free | ||
2023 Review and What’s to Come in 2024 |
Dec 21, 2023
6:00pm - 7:00pm US/Eastern |
16 | Not registered | $300.00 | ||
Nearshoring: Not a Trend, an Imperative |
Nov 16, 2023
6:00pm - 7:00pm US/Eastern |
55 | Not registered | Free | ||
Process Efficiency in the Manufacturing Industry: Automation & Technology |
Oct 19, 2023
6:00pm - 7:00pm US/Eastern |
29 | Not registered | Free | ||
This era of Attracting & Retaining Talent |
Sep 21, 2023
6:00pm - 7:00pm US/Eastern |
18 | Not registered | Free | ||
Data Alone is Not Enough |
Aug 17, 2023
6:00pm - 7:00pm US/Eastern |
39 | Not registered | Free |
Welcome to the Manufacturing Special Interest Group (SIG) of The Financial Executives Networking Group (FENG), where finance professionals in the manufacturing industry come together to drive excellence and innovation.
Our SIG offers a unique value proposition tailored specifically for financial executives working in manufacturing. We understand the intricate financial landscape of the industry, from managing operational costs to navigating complex supply chains. That's why we provide a dedicated platform for collaboration, knowledge-sharing, and professional development to help you stay ahead in this dynamic sector.
At the Manufacturing SIG, we focus on key areas crucial to the success of finance professionals in manufacturing. From optimizing financial strategies to leveraging technology for efficiency gains, we cover it all. Our community fosters an environment where thought leadership thrives, enabling you to stay abreast of industry trends and best practices.
Joining our SIG means gaining access to unparalleled networking opportunities with fellow finance executives, industry experts, and thought leaders in manufacturing. Connect with like-minded professionals, exchange insights, and forge valuable relationships that can propel your career and drive business growth.
But the benefits don't stop there. As a member of our SIG, you'll also have access to exclusive events, workshops, and webinars designed to enhance your skills and expertise. Whether you're looking to expand your knowledge base or refine your financial acumen, our professional development opportunities are tailored to meet your needs.
In a rapidly evolving industry like manufacturing, staying informed and connected is key to success. Join the Manufacturing SIG of FENG today and be part of a vibrant community dedicated to advancing finance excellence in manufacturing. Together, let's innovate, collaborate, and lead the way to a prosperous future for the industry.
These are our Chapter's recently recorded meetings.
Total Members | 9341 |
---|---|
Alumni | (57%) 5,353 |
Active | (37%) 3,495 |
Associate | (1%) 6 |
Retired | (5%) 487 |