If one of your responsibilities is to vet your company’s vendors, CMA recommends that you participate in the upcoming Supplier Risk Credit Group on January 25.
The January meeting of this group will feature special guest speaker Ken Bonitz. Bonitz is the Supply Management Solutions Advisor with Dun & Bradstreet, and over the past 15 years his primary focus has been with Fortune 500 companies; he’s had great success in all industry verticals.
Ken Bonitz is a 35-year supply-chain professional who has more than 20 years’ experience in high tech, developing supply chain solutions that focus on operational efficiencies, cost savings, profitability, risk and product support. He also has 15 years supply chain consulting experience, helping customers identify supply chain financial risk, operational risk, country risk, leverage opportunities and ERP/MDM improvements.
The meeting will take place at the CMA Glendale offices, or you may participate via teleconference.
Among the items on the agenda: D&B Overview; D&B Segment Overview; D&B Supply Management Overview; Supplier Predictive Scores; Supplier Predictive Risk Tools; and a Questions-and-Answers session.
For more information about how you can get involved, contact Larry Convoy at firstname.lastname@example.org or 818-972-5323. We look forward to your participation in what is sure to be a lively discussion.
Thanks to all the credit practitioners, industry experts, and industry partners who participated in the many valuable conversations at CMA’s recent CreditScape Summit. Our goal was to create an interactive, collaborative learning environment, and I was so pleased with the high level of sharing among all participants throughout the two-day event.
I was equally pleased with the audience response to facilitator Bob Shultz’s approach to process improvements within what he calls the Cash-to-Cash cycle. Also known as the cash conversion cycle, Shultz emphasized that the role of credit management extends beyond basic credit and collections processes. There is the opportunity to impact the company’s liquidity through good inventory and accounts payable management, in addition to traditional accounts receivable management. Collections trainer Bart Frankel recommended that credit people take responsibility for helping to resolve issues that arise out of these “other” departments, as they ultimately impact the credit department’s effectiveness in granting credit and collecting receivables.
Experienced credit practitioners and other credit industry experts shared specific examples of how they successfully influenced and improved processes across the Cash-to-Cash cycle and created more cash flow from operations.
Another example of how CMA is advocating for the expansion of the traditional role of credit within the enterprise is the suggestion that credit can support procurement in evaluating the risk of critical suppliers. Recently, I had the unique opportunity to participate as a panelist in the fourth annual Global Supply Chain Management Conference at USC’s Marshall School of Business. As panel moderator, CMA Member Alvin Moreno, Director of Global Supply Chain Credit Risk with Nestle USA, made the case that the credit department is best positioned to help the procurement department assess the financial stability of a company’s suppliers. In the wake of shipper Hanjin’s bankruptcy, supply chain disruption has continued to grow as a concern for companies that rely on critical suppliers, which gives credit the opportunity to add new value to the business.
As a panelist, I told the audience of supply chain professionals about how CMA has worked with Alvin, his team at Nestle USA, and other CMA Members to create a special credit group in which credit managers collaborate on processes and best practices in supplier risk evaluations. More information about that collaboration is here.
Clearly, we at CMA are big fans of process improvement through collaborative learning. But as I mentioned in my opening remarks at CreditScape last week, credit managers need to step up and become credit leaders if they are to be successful in driving the organizational changes necessary to make those process improvements a reality.
How are you leading change in your organization? I welcome your feedback.
CMA Mentor of the Year Alvin Moreno, MBA, of Nestle USA, has 30 years of extensive experience in the credit industry. He has three masters degrees and a six sigma green belt. He is passionate about using sound credit and risk management principals to reduce risk. He is always willing to guide his team and those around him to grow and recognize their potential. Under his leadership, CMA created the Supplier Risk Management Industry Credit Group over the past year, and the group has been successful as the first best-practices group CMA has ever offered.
Congratulations again to our winner, and we appreciate all that you do for CMA and its members.