Task Force Member
G20 Saudi Arabia
Total des années d'expérience :28 years, 10 Mois
G20 SAUDI ARABIA:
B20 - Finance & Infrastructure.
Focusing on key challenges of the Financial Industry and the Financing Aspects of quality infrastructure.
Overseeing financial transactions under controlled environment ensuring the audit assertions of Completeness, Existence, Accuracy, Valuation, Ownership and Presentation in accordance with the Company’s Financial Objectives, Strategic Goals, Fiscal Position, Budget availability and optimization of liquid resources.
Success Story:
• Implemented Financial Control Procedures at transactional level to ensure the fiscal spending in accordance with the Business Growth Strategy and mitigate extravagancy.
• Implemented Cash Payment Budget and designed strategy for payment to Suppliers under FIFO (First in First Out) based invoices and reduced average Day Outstanding of Payables.
• Procurement policy applied successfully first time in company (Hamad Abdul Aziz Musa) and achieved targets in first financial year. In regards of this management offered me Board Membership in the company.
• Rehabilitated dead warehouse units within given time and made recovery about 3.5 Million Riyals and converted into addition in main stream of business. Under my Supervision the critical annual audit objection removed from report that worth about 2 Million riyal showing as dead investment in annual audit report.
• Slashed 25% petty cash payments through effective and preemptive planning for the requirements at monthly basis.
• Slashed 15% Quantitative Volume of Purchase Orders by outlining Communication with Operations for availability of right material at right time with right cost.
• Improved cash management by 25% with effective negotiation with the suppliers and ensured Rebate on supplies.
• Implemented Controlled Supply Chain Mechanism and introduced 3 - way match of Procurement Cycle from initiation of Purchase Request to Closure of Purchase Order.
• Established adequate and effective internal control system and designed operational policies and procedures for the Group
• Maintained ZERO variance in inventory through continuous and effective inventory management.
Masterly Managed Multi-faceted functions of accounting and procurement together with the supplier relationship management.
Credits on My Profile:
• Implemented Bank Reconciliation Procedures on weekly basis to provide timely and accurately financial position to the management for strategic decisions and appropriate cash management.
• Managed supplier payments through timely and accurately reporting and reconciliation of the supplier accounts with the company’s books.
• Assisted management for right decision at right time by providing most updated, accurate, concise, complete, consistent and comprehensive financial data and information.
• Conducted pre-audit functions at transactional level and deployed financial filter to drop transactions at doubt, out of procedures, non-coherent with company’s strategy and objectives.
Successfully managed supply chain functions at the company and ensured timely availability of required material in cost effective pattern and just in time fashion to avoid extravagant investment in non-moving or slow moving inventory items.
Winning Player for:
• Implemented supplier sourcing and established relationship with suppliers and induction of 15% new suppliers at the company’s terms.
• Enhanced payment terms with suppliers from 45 days to 90 days and credit terms on average 25%
• Reviewed the entire inventory and established JIT (Just In Time) Inventory methodology and reduced 45% investment in non-yielding inventory.
• Removed 100% non-moving inventory and reduced investment by 80% in slow moving inventory.
• Established inventory monitoring mechanism to identify the inventory by source, by date, by category, by project and by requester to eradicate the wastage due to expiry and non-requirement.
• Established inventory requirement and consumption policy and procedure to avoid theft and pilferage and reduced 25% inventory issuance of personnel supplies and handy material.
• Introduced monthly demand projections by projects and operations and investigated the variances at month end for each item in demand and actual consumptions. Reduced 18% inventory demand on average during the period.
• Established whistle blower in the market to get timely insider information for price fluctuation and ensure the availability and stocking of material at cost effective pattern.
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