Cover Subtitle - Working Council for Chief Financial Officers ...

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CFO1AJDG19 © 2008 Corporate Executive Board. All Rights Reserved.
Support on Cost Management
Tools that enable CFOs to target specifi c cost heads…
Labor
How do we optimize our labor cost structure
without sending the wrong message to the
market and losing high-potential staff?
Best Practice: Harrah’s Flexible Staffing
Protocols
Marketing and R&D
How should we increase the return on our
marketing and R&D investments?
Best Practice: Vista’s Corporate Strategy
Marketing Dashboard
Finance Function
How do we increase the effectiveness
of the finance function?
Best Practice: EDS’s Offshore Centers for
New Business Analysis, HP’s Offshore Global
Shared Services Model
Monitoring Cost
How can we ensure we have reliable,
real-time cost data to monitor progress
and support our decisions?
Best Practice: ABB’s Drill-Down
Cost Reports, Bayer’s Granular
Impact Monitoring
Optimizing Working Capital Management
How can we specifically address our
working capital requirements to ensure
short-term liquidity and funds for future
growth?
Best Practice: Borealis’ Working
Capital Management Approach
Implementing Shared Services
Which activities should be moved to
shared services, and how can we do that
while minimizing costs?
Best Practice: HP’s Offshore Global
Shared Services Model
Addressing Specifi c Cost Type Challenges
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Cost Hit List
IT
As IT innovation cycles become shorter and the
technology more expensive, how do we manage
growing IT costs?
Best Practice: IBM’s IT Cost-Savings
Redeployment
COGS
How can we reduce COGS in the short and
long term?
Best Practice: MSL’s Supplier Total Cost
of Ownership Scorecard
Capital Expenditures
How do we ensure we are allocating resources
to high–ROI projects?
Best Practice: Alcoa’s Growth Spending
Set-Asides
…and implement enterprise-wide cost campaigns
Enterprise-Wide Cost-Reduction Initiatives
Rewarding Cost Discipline
How can we incentivize staff on costeffective
resource management?
Best Practice: Borealis’ Working
Capital Decision Support Incentives,
Nucor’s Dynamic Productivity Controls,
Engelhard’s Scalable Distributed Cash-
Flow Control
Standardizing Processes
How can we standardize processes and
technology to help reduce costs?
Best Practice: CEMEX’s Process
Standardization Blueprints, Swiss
Re’s Consensus-Driven Process
Harmonization
Partnering Cost with Growth
How can we ensure that we not lose
cost discipline as we grow?
Upcoming Research: Sustaining
Cost Leadership
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Key CFO Executive Board Services | 15
Compliance
How can we quantify and reduce compliance
costs?
Best Practice: Alpha’s Peer-Based
Control Testing
SG&A
How should we manage our SG&A resources
to achieve superior results?
Best Practice: Aviall’s Strategic Expense
Driver Reviews
Benefi ts
How can we control benefits costs?
Best Practice: Engelhard’s Pension Horizon
Contribution Assessment, Dell’s Health Plan
Customization
Improving Supply Chain Processes
How can we innovate supply chain
processes to achieve sustainable cost
reductions?
Best Practice: Agere’s Demand
Profiles, Nokia’s Supply Chain
Visibility Tools
Rationalizing SKUs
How can we maintain a healthy product
portfolio?
Best Practice: Levi Strauss’
Risk-Adjusted Product Portfolio
Rationalization
Enhancing Cost Structure Flexibility
How can we make our cost structure
more flexible and responsive to internal
and external changes?
Best Practice: BMW’s Flexible
Work Formula