The Ledger

Tools For An Effective Supply Chain Strategy

Today’s supply chains are increasingly complex, driving logistics operations to invest in systems that can drive efficiency rather than hindering it. Forward-thinking supply chain professionals are looking to advanced technologies to streamline processes, improve accuracy, accelerate delivery and reduce costs. Complex supply chains generate more data, which companies can use to drive greater efficiency or engage in innovation that disrupts an entire industry. The prospect of using data to operate more efficiently and/or innovate is behind the catalyst toward digital transformation that leaders across every industry now pursue.

Read More at MH&L >

Just in Case You Haven’t Already- Here Are 5 More Reasons to Ditch Your Spreadsheets

It is impossible to get a holistic view of a business using spreadsheets, and poor visibility creates business risk. Yet, companies still cling to them even when there are many better alternatives out there because of their familiarity of the tool. The long list of cons using spreadsheets include high maintenance overhead, significant time spent by expensive finance resources performing manual input rather than real value-add, poor data management, no data integration nor Big Data support, and sub-par system performance and deployment options. There is no need for the CFO to rely on different products and separate data warehouses. Instead, they can support their new and developing needs in a single, easy-to-use, unified platform governed by finance – optimized at using data as a strategic asset to drive a “data dividend.”

Read More at The Digitalist by SAP >

New Solutions Are Necessary For Success In Chemical Manufacturing

The chemical industry is characterized by process-based manufacturing, high capital intensity, and long investment cycles. Over the longer term, capital is deployed for R&D or capacity expansion, while, over the shorter term, resources are targeted to increase productivity and reduce costs. This process has kept the industry stable because their conservative response to change was sufficient. Over the last several decades, however, the pace of change outside the firm’s sphere of control has been unprecedented. Changes in regulation, competition, supply, demand, and technology pose greater chances for disruption in ever shorter periods of time. At some point, a company’s inability to respond within an acceptable window to the pace of change of external factors will begin to exponentially add risk.

Read More at The Digitalist by SAP >

The Difference Between Good CFOs and Great CFOs

“A well-designed CFO succession plan ensures a deep bench of finance talent prepared to step into leadership roles, and frees up CFOs’ time to focus on their strategic and catalyst roles.”

When CFOs were asked by Deloitte about the legacy they wanted to leave, a majority responded that they wanted to have had a strong influence on their company’s ability to perform well in the future and to have left things better than they found them. One of the keys to achieving those goals is a well-thought-out CFO succession plan that ensures there is a bench of highly skilled finance leaders ready and able to take on new demands.

Read More at The Wall Street Journal >