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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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The type of thinking we do!
We engage in various types of thinking for solving different problems. Thinking is a problem solving process. A process in which we reason about something. Types of thinking, we do · Concrete thinking – When we think in terms of our perception of actual or concrete things. Also called perceptual thinking. · Conceptual thinking – When we use concepts and languages. Also called abstract thinking. · Reflective thinking – When we solve complex problems and use facts and knowledge in a logical way to arrive at the solution. · Creative thinking – When we create or construct something new or novel thing. Also called thinking out of the box. · Critical thinking - When we evaluate everything and step aside our belief system to discover the truth. · Divergent thinking – When we explore a number of alternatives. · Convergent thinking –When we combine a number of ideas to arrive at a solution. · Associative thinking – When we think which is non-directed and without a goal · Linear thinking – When we process information in a sequential manner. · Gestalt Thinking – When we see the big and whole picture.
Cognitive abilities such as thinking, reasoning and problem-solving are some of the key characteristics which distinguish us from other species.
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