I spotted an excellent article over the weekend that demonstrates how CFO’s are leveraging data and analytics to drive their most critical decisions. The article was in the Wall Street Journal: Constant Changes In Costs Alter Job for ConAgra, April 23/24th, 2022.
David Marberger, CFO of ConAgra Brands, is quoted as using data to drive critical sourcing and replenishment actions. Such actions directly impact margin. Such costs and sourcing decisions impact business performance reported to the market. You might think a head of procurement or transportation may do this work too. In all cases if you had a Chief Data and Analytics Officer, they should be able to help here too.
Here are a few choice quotes:
- “Conagra Brands Inc.’s finance chief is spending more time analyzing data on the availability of trucks and chicken as the company calculates future price increases.”
- “The finance, procurement and transportation teams are devoting more time to analyzing data and understanding the dynamics that are causing volatility to better predict future impacts on the business, Mr. Marberger said.”
- “The company lowered its profit guidance for the fiscal year ending in May, citing greater inflation than expected.”