CFO Magazine: A CFO Action Plan for 2023
January 10, 2023
“CFOs should strengthen their supply chains in the year ahead, carefully analyzing them end-to-end to identify potential weaknesses and opportunities. Identify critical suppliers, build relationships with them, ensure they have scale, and designate alternate sources where needed. Engage key customers in joint demand planning, gaining commitments for short-term requirements. Invest in preventive maintenance programs to minimize unplanned downtime. Implement cycle counting for raw materials, finished products, and spare parts to ensure complete visibility. And, in general, monitor your supply chain risks and react accordingly.”