CMG offers 100 top corporations insight to the importance of cost & supply management solutions. Two customers provided insight into how they interacted and got results from the two different Group Members. Plans are in the works for a future teleconference for the new year.

The term supply management describes the methods and processes of modern corporate or institutional buying. This may be for the purchasing of supplies for internal use, purchasing raw materials for the consumption during the manufacturing process, or for the purchasing of goods for inventory to be resold as products in the distribution and retail process.

In many organizations, acquisition or buying of services is called contracting, while that of goods is called purchasing or procurement. The supply management function of an organization is responsible for various aspects of these acquisitions:

• Managing supplier performance
• Implementing technologies, processes, policies, and procedures to support the purchasing process (Supplier Relationship Management).
• The supplier relationship management process: a process for providing the structure for how relationships with suppliers will be developed and maintained.
• Economic theories of supply and demand

Supply management is generally regarded as a systematic business process that includes more functions than traditional buying, such as coordinating inbound and internal pre-production logistics and managing inventory.

Supply management deals primarily with the oversight and management of materials and services inputs, management of the suppliers who provide those inputs, and support of the process of acquiring those inputs. The performance of supply management departments and supply management professionals is commonly measured in terms of amount of money saved for the organization. However, managing risk is one of the other critical aspects of supply management; especially the risk of non-availability at the required time of quality goods and services critical for an organization’s survival and growth.

 CMG  Master Consultants are considered “Best in Class” for providing cost reduction and spend management solutions in one or more corporate spend areas. Master Consultants are able to hone in on specific spend areas and deliver hard bottom line savings while using a performance base fee structure.

With the economy in disarray, shipping prices are becoming increasingly volatile. However, your shipping operations are essential and must continue. Transportation accounts for almost 50 percent of an average company’s logistics costs. For companies looking to reduce costs across their organization, transportation is a key spend area to examine.

The objective of a legal audit is to review such items as:

• The accuracy of fees and expenses of the firm’s prior billing statements.
• Identify and quantify the billing entries, activities, and fees that appear excessive, duplicated, inadequately documented or otherwise ambiguous.

Identify expense items billed by the law firm that are generally considered law firm overhead or do not appear to directly relate to the matter.

ALSO CALLED: Enterprise Spend Management, ESM, Spend Analysis 
DEFINITION: In an enterprise, spend management is managing how to spend money to best effect in order to build products and services. The term is intended to encompass such processes as outsourcing, procurement, e-procurement, and supply chain management. Since the “spend manager” could have a significant impact on a company’s results, it has been advocated that this manager have a senior voice in running the In an enterprise, spend management is managing how to spend money to best effect in order to build products and services. The term is intended to encompass such processes as outsourcing, procurement, e-procurement, and supply chain management. Since the “spend manager” could have a significant impact on a company’s results, it has been advocated that this manager have a senior voice in running the company.

Reference: http://www.bitpipe.com

— Cost Management Group, a national leader in Cost Management services, announces that Charles McCoy has joined the company as Managing Director, in charge of the Financial Solutions Group. —

Atlanta, GA, October 16, 2009 – Cost Management Group (CMG), the national leader in Cost Management services, announces the addition of Charles McCoy, former Coca-Cola executive, to the management team of CMG.  In his new position, Charles will be responsible for the Financial Solutions Group of CMG, along with other strategic and operational responsibilities.   

Charles has over 30 years of diverse business experience, including 27 years with the Coca-Cola Company in a variety of leadership roles, primarily in finance & accounting, supply chain management, and non-carbonated beverages operations. 

Peter Lauer, Managing Partner of CMG remarked as to Mr. McCoy’s appointment:  “We are delighted and honored to have Charles as part of the management team. He has the experience and wisdom to help guide our firm to the next level and our ability to attract Charles speaks to the power of our business model and strategy for delivering world class cost reduction solutions to large and medium sized corporations.”    

Charles McCoy says, “It’s a pleasure to join CMG’s team of top professionals and very rewarding to help companies save money, particularly in these tough economic times.”

He served as V.P. of Business Operations for Coca-Cola North America’s (CCNA) Non-Carbonated Beverages Group, as well as leading CCNA’s revenue management and mergers and acquisitions activities.  Additionally he led supply chain management for CCNA, producing non-carbonated beverages (e.g., PowerAde, Dasani and other brands) and has extensive experience in capital management, product development, commercialization, productivity and cost savings initiatives.  He also served on the Board of Directors as Treasurer and Chairman for the International Bottled Water Association, a trade association of over 400 member companies.

Earlier in his career at Coca-Cola Charles held key financial leadership roles: as an Assistant Controller responsible for general ledger, budgeting, financial reporting, etc for Coca-Cola USA,  V.P. of Finance and Administration and CFO for the Canadian Division in Toronto, and Financial Services Manager for the Latin America, Europe and Africa Groups.

Prior to Coca-Cola Charles was a CPA at Price Waterhouse.  He has a B.A. in Economics from The University of Virginia, an MBA in Finance and Masters in Professional Accountancy from Georgia State University. 

Charles and his wife Becca McCoy reside in Atlanta, have two children, and enjoy golf and a variety of outdoor sporting activities.

About Cost Management Group:

The Cost Management Group (CMG) delivers significant cost reduction and spend management solutions for corporations across a wide spectrum of spend categories. CMG utilizes a portfolio of Certified Group Members, each carefully chosen for their extensive experience, uncommon expertise, and capability of delivering substantial cost reductions for their clients. CMG focuses on a major portion of your overall corporate spend. This is why we take pride in using our expertise and experience to ensure you are getting the best price and terms possible in each of your significant spend categories. How you purchase in these categories can put you ahead - or behind - your competition. That’s why CMG is changing the way our clients manage spend. Unlike many other firms, in most of our engagements, we work on a performance-based contingency fee, only earning money when we save you money.

CMG delivers real hard dollar savings in the following key corporate spend management categories: Administrative Solutions, Telecom Solutions, Human Resource Solutions, Energy Solutions, Freight & Logistics Solutions, IT Solutions and Financial Solutions.