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Finance for the Supply Professional -- Prliminary Outline
Thursday, October 12, 2006
Understanding finances and the ability to use financial ratios and concepts have become critical to the success of each supply professional. The key to understanding, application and decisionmaking lies in knowing what to look for and how to interpret and use what you find. This program will explore balance sheets, income statements, profit and loss, cost control, credit ratings, annual reports, financial ratios, spend analysis, cost reduction and other topics related to finance. Join us as we remove the mystery to all of the numbers.
Who should attend? Supply management professionals who are interested in exploring the relationship between finance and procurement, learning how to use financial tools to sharpen their decisionmaking skills, and enhancing their understanding of finance to effectively communicate cost management results to top management. Bring a calculator!
Preliminary Outline
This outline is subject to change
Segment 1 — Exploring the Documents, Terms and Terminologies
- The Importance of Understanding Financial Terms and Terminology
- Communicating with Senior Management
- Working With Suppliers
- Exploring Basic Financial Documents and Terminology
- Segment 1 Summary and Q&A
Segment 2 — Understanding Cost-based Principles
- Supply Chain Costs
- Cost Versus Price
- Costing Methods
- Types of Contracts
- Inventory and Overhead
- Segment 2 Summary and Q&A
30-minute program break
Segment 3 — Cost Management to Improve the Bottomline
- Moving Away From "Hit-Or-Miss" Cost Savings
- Documenting Supply Management's Value to the Organization
- Reports to Explore for Decisionmaking
- Segment 3 Summary and Q&A
Segment 4 — Special Cost Factors and Impacts
- Inflation
- Currency Fluctuations
- Depreciation
- Interest rates
- Regulations
- The Learning Curve
- Buying Strategies
- Concluding Thoughts
- Final Q&A
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