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Internal audit action is overdue
Internal auditors pointed out many deficiencies in a logistics audit. Management recommended 3PL replacement to the board audit committee.
A new SCM professional was hired to replace the existing head, who felt the heat and had resigned.
Functional GM gave the mandate to the new manager to improve the situation in next ninety days. Stock inaccuracy, delayed orders, wrong delivery were some of the main issues.
Over the next few weeks, the new manager shared the action plan and also got the buy in for change of warehouse premises, as this was the biggest problem which needed to be attacked.
After shifting to the new premises and other changes, the logistics performance improved. In four months, the new manager was able to earn his medals from functional GM, CFO and CEO.
The logistics problem was solved but audit closure action - 3PL change was still open. The commitment made to the board was yet to be completed.
How will you respond to the board audit committee on the open audit action point?
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Negotiation is an important life skill
We negotiate most of our waking hours. We negotiate with our team members, colleagues, bosses and vendors at work, with our kids, spouse and parents at home. We negotiate during buying or selling of an asset e.g. house, car and also conflict resolution and during salary negotiations. Negotiation is an important life skill and it contributes to our success.
If we do not negotiate well or don’t negotiate at all then there is a big chance that we are going to leave money on the table, which could have been ours. We often don’t negotiate because we feel it is inappropriate or feel uncomfortable and fear it.
“You don't get what you deserve. You get what you negotiate.” Chester Karrass
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