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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
Negotiation is also a game, the more you play and practice, the better you get. Learn and prepare negotiation to reduce anxiety. Like any other skill, it can be mastered.
· Negotiation skills are learnable · You need to know the concept & principles · You need to apply the principles & practice the game · You should get feedback after each negotiation to improve
Last but not the least, seek negotiation and don’t avoid it. When you do buy or sell an asset or join a new job, negotiations are part of the whole process. Prepare for negotiations and don't avoid.
Negotiation is an information game, a conversational dance where we exchange offers...back and forth…offers and counteroffers to benefit mutually.
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