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Cost Saving Ideas for Food Companies in the Current Economic Environment

Jonathan C. Daiker, CFO, CPA If you produce products for the retail or wholesale food industry, maintaining your profitability the past year has been challenging. The commodity markets have been vacillating severely, making it difficult to maintain price levels that yield a consistent profit margin. Several areas that need to be managed closely are: Procurement and Input Costs—A huge opportunity area for improving profitability. Alignment of procurement commitment and production is critical. Tracking the markets and getting out in front of commodity price increases are also extremely important

“Are you running your business without a CFO? Seriously?”

By Jonathan C. Daiker, CPA The role of Chief Financial Officer (CFO) —and the structure in which CFOs operate— varies significantly across organizations. Market complexity, revenue sources and budget size are important factors that drive how the CFO role is configured—and how the role evolves over time. The past decade has seen dramatic changes to the role of CFO – an evolution from a “bean counter” who reported the numbers and controlled over-all costs to a dynamic, strategic member of the management team. The responsibilities of today’s