The Welding & Gases CFO Club hosted its third successful meeting.
This round we covered a wide variety of topics within the topics:
Price Increases
- Philosophies on how often, opportunity to differentiate from competitors, salesforce pushback and the potential to inflate the negative impact they could cause, different strategies for covering cost or also covering profit (note: intentionally avoided specifics on pricing due to anti-trust concerns), supplier diversification impact, customer tolerance for increases, maintaining healthy margins, inventory management (dead stock, meeting customer demand vs carrying cost), supply chain loosening for certain items (cylinders, trucks and tankers not included), concept of tanker trailer sharing to combat the delays, pre-ordering tankers and trucks and more
Audit Philosophies
- Review vs. full audit (advantages/disadvantages), hedging, decreasing fraud potential, inventory audits (cycle counts, frequency, inventory loss, cost and labor to get it done, barcoding/manual, blind count vs. show count, determining need vs cost justification)
The next discussion will take place on Wednesday, April 26th at 11:00 a.m. EST. To register, click here.
Discussion Topics (voted on by those in attendance)
- Tracking Gas Loss
- Do you track? How (by molecules and/or $’s)? All types of gas? ERP system used?
- AP Portals
- How often are you seeing? How do you manage? Any tricks or ways around it?
Wednesday, 6/14 @ 11 Eastern
Registration: https://www.thehortongroup.com/welding-gas-cfo-club-june/
Discussion Topics
- Decided during April meeting
