Our third CFO Club was another success. Thanks to everyone who made it out! Welding & gas finance leaders from across the country came together to discuss top of mind subjects.
This round we covered a wide variety to 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)
Mark your calendar and get registered for our next discussions
Wednesday, 4/26 @ 11 Eastern
Registration: https://www.thehortongroup.com/welding-gas-cfo-club-april/
Discussion Topics
- 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
If you are a finance leader in welding & gas distribution, please come share your experiences and learn from your peers.
We’ll be switching platforms to Microsoft Teams for our upcoming meetings to increase familiarity and ease of use. An invitation will be manually sent, shortly after registration, by Tony Hopkins (tony.hopkins@thehortongroup.com).
Tony Hopkins
Tony has also realized that talking a good game is not enough. The true mark of a professional is execution. Horton achieves this through a process which consistently delivers on promises made and holding themselves accountable. “Once a plan is established, we are committed to plan execution. Our team functions as an extension of our clients operations; we are just as invested in their success as our own – their goals are our goals,” says Tony.
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