Supply chain disruptions and challenges have been in the headlines for a while, and many companies are reimagining their supply chain. As a result, companies are looking at:

Nearshoring and/or onshoring

• Nearshoring and/or onshoring
• Overall business processes
• Talent retention and skills training (where the gaps are)
• Leveraging and more effectively using their current business solutions software
• New technology and/or applications that reduce time/effort and fit closer with what they do
• Inventory integrity and supplier communications
• Moving scarce resources to higher margin products where possible

Whatever the case, having a vision, a future state plan, good problem definition(s), and an understanding of what’s missing/preventing us from achieving the reimagined supply chain future state can ensure a focus on the correct and most beneficial solutions.

People

Basically, the biggest challenge companies are facing is labor and skills shortages. According to The Bureau of Labor Statistics we could have 2.4 million open manufacture jobs by 2028 as a result of skills gaps.

Retaining talent is more than monetary rewards & job satisfaction. Todays’ talent wants to be part of decision making, policy setting, and working towards a greater purpose. Companies that are creating opportunities that encourage employees to master new skills, and contribute to a greater cause will win out.

Creating a purpose, a vision, and allowing autonomy and creating trust with employees and teams will not only improve retention it will increase the rate at which the organization can move, make decisions/changes, and pivot as supply chain and business conditions change. Stakeholders and Employers mutually benefit.

Performance Improvement

Performance Improvement is a mixture of art and science and focuses on reducing effort associated to daily run activities and more time on higher value-added activities and transformational improvements.

Performance improvement starts with open communication and creating a safe environment to share ideas. Acting on ideas, quick wins, and speed of change are all instrumental in gaining momentum. The curation of solution(s) greatly depends on the future state and what’s missing/preventing us from achieving the vision.

Technology

When order backlogs are growing it’s easy to get stuck in the run and the daily routine. For stakeholders the routine becomes mondain and if not for a greater purpose a dead end, and job hunts begin. To allow stakeholders to spend time on higher value-added activities and master new skills organizations are automating routine business process(es) like:

• AP/AR,
• Supply chain communications,
• P.O. creation, approvals, and routing, and
• Raw materials and finished goods forecasting.

To do so, they’re implementing technology tools necessary to reduce transactional effort and better communicate and coordinate with all parties along their supply chains.

Investing carefully

Investing in any type of transformation calls for a close and careful look at your company’s needs, culture, business processes, people skills, risk tolerance, and short- and long-term growth strategy. That said, growing your talent is imperative in today’s supply chain and business environment and the right solutions will certainly help.

Contact CSH for help building and/or implementing a comprehensive roadmap to a reimagined supply chain.

All content provided in this article is for informational purposes only. Matters discussed in this article are subject to change. For up-to-date information on this subject please contact a Clark Schaefer Hackett professional. Clark Schaefer Hackett will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

Contributed by:

Clark Schaefer Hackett
One East Fourth Street, Suite 1200, Cincinnati, OH 45202

https://www.cshco.com/
Phone: (+1 513) 241 3111 | EMail: jmoster@cshco.com

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Why are small and medium-sized companies increasingly concerned with the question of how they can report on their sustainability activities in a structured and transparent manner?

The IFRS Foundation plans to establish a new standard-setter for the creation of international So far, there is no reporting obligation for these companies.

If the draft of the EU CSR Directive is implemented 1:1 (which is currently questionable) and this Directive is then also implemented 1:1 into the respective national law of the EU member states (which is likely to be even more questionable), then companies with more than 250 employees would have to prepare a sustainability report from 2023.

But in my opinion, this topic is not at all about the question of whether companies have a formal obligation to prepare a sustainability report or not. In the coming years, personal motives and the de facto compulsion of the markets will lead to medium-sized companies also dealing intensively with the topic of sustainability reporting.

The post What Are The Benefits Of Voluntary Reporting On Sustainability Activities? appeared first on AGN International.

In the 2021 Q4 issue, Malcolm Ward – Global CEO, reflects on an unexpected but positive end to 2021. With 200 attendees present at the combined World Congress and NARM event in Miami and around 30% more joining online for keynotes, it is clear that genuine relationships remain important.

That said, we are hopeful that 2022 will allow in-person events to happen. Find out when and where our flagship events will be taking place.

Tom Hood, CPA, CITP, CGMA, is one of the most influential global CPA profession thinkers and delivered a highly interactive and engaging session at the World Congress and NARM event in Miami. If you were not able to attend or want to recap on Tom’s session ‘The Next Normal: Now The Future Ready Accounting Firm Post-Covid19’, this newsletter summarises the session and links to Tom Hood’s published article on LinkedIn.

Earlier this year, we commissioned Succession Strength to conduct the Resilience and Succession Readiness Assessment to better understand the preparedness of AGN member firms to deal with unplanned events and to navigate upcoming leadership transitions. Find out the results!

Access the AGN Global Business Voice: Business Alert on Key Account Management. Many trends have accelerated off-the-back of the pandemic; however, we often talk about technology and our human capital within the business. But what about our customers? How have future needs and desires evolved, and what are we doing to find out about it?

The post Worldwide Update: 2021 Q4 appeared first on AGN International.

Volumes and values were down – but perhaps not as much as one might have expected, and it was clear that there was concern about future levels of distressed sales due to an anticipated downturn in economic fortunes.

Just over half a year later, we now look again into this fascinating area. It would appear that many economies have bounced back with greater energy than might have, at one point, been expected. Regardless, some economies are now burdened with huge public debt, and as pundits are pointing out, “someone will have to pay”, and the question for us is how will that affect global M&A business?

Access the publication to discover the high-level, opinion-based picture from our international panel of business advisory accountants. What is happening in their region or country?

The post M&A Outlook II – The AGN Global Survey of M&A Activity: The Foothills of Future Change? appeared first on AGN International.

This publication will provide you and your clients with up-to-date information on tax developments in AP countries, current corporate world issues and hot topics affecting the respective countries’ economies and global development – including insight into the potential impact this could have, and annual budget announcements.

In this issue:

AUSTRALIA: Resident Australian Director requirements and the new Director ID

MALAYSIA: Malaysia’s National Budget for 2022

The post AGN Taxpresso: 2021 Q4 appeared first on AGN International.

A diverse range of AGN North America webinars is lined up to ring in the CPE for the end of the year. AGN Europe, Middle East and Africa (EMEA) have a series of webinars (which continue into 2022) for all our global members, and access the recordings from the 2021 World Congress keynote speakers in Miami if you didn’t witness them first-hand.

The post AGN Connection – NA Newsletter #32 I December 2021 appeared first on AGN International.

As announced in our last IFRS newsletter we would like to take this opportunity to provide you with more information on developments in the area of sustainability reporting.

The IFRS Foundation plans to establish a new standard-setter for the creation of international standards on sustainability reporting. Thus, in the future, there will be two separate standard-setters under the umbrella of the IFRS Foundation: on the one hand, as before, the IASB (International Accounting Standards Board) and, on the other hand, the ISSB (International Sustainability Standards Board). While the IASB is responsible for IFRS, the ISSB will publish so-called “IFRS Sustainability Standards” in future.

The post Corporate Sustainability Reporting (CSR) – New Standards Impacting SME Reporting. appeared first on AGN International.

According to Bain & Co research, a 5% increase in customer retention rates increases account profitability between 25% and 95%. Imagine the impact if you can apply this effect to your biggest, best, and most lucrative clients – or more especially to those existing clients that have the potential to become the biggest, best and most lucrative.

This GBV highlights some of the challenging paradigms which can be barriers to getting KAM off the ground.

The post Business Alert: Key Account Management appeared first on AGN International.

Suzanne was cited by Florida trend for helping pave the way for a high level of female partnership at James Moore and the firm’s efforts in helping businesses survive through the COVID‐19 pandemic. You can read more about Suzanne’s inclusion on the Florida 500 website.

The post Suzanne Forbes Named One of Florida’s 500 Most Influential Business Leaders in 2021 by Florida Trend appeared first on AGN International.

Whatever government is formed after the September 20th election will have a ripple effect across most Canadian industries, burgeoning and established. In terms of the pandemic – as of writing this, Canada’s population has the highest fully vaccinated rate in the world! This GBV alert digs a little deeper into the schemes and incentives that are attracting many international businesses set on accessing the larger North American markets.

What’s more, as of writing this, Canada’s population has the highest fully vaccinated rate in the world!

The post Business Alert: Canada – A Hotbed of Opportunity appeared first on AGN International.