Select Accomplishments - Operational Finance

Product Rationalization $3 million - Company had a large product portfolio that evolved over decades and profitability models were nonexistent.  Constructed a viable product profitability model and evaluated product lines.  Partnered with president and operations to identify marketing and product alternatives and selective product elimination.  Product rationalization strategy generated $3 million in annual profits.

Capacity Rationalization $1 million - Manufacturing operations had excess and inefficient capacity.  Developed a timeline for plant consolidation and established recurring tactical meetings to ensure goals were met while operations continued to run.  Intermittently onsite and worked closely with operations and engineering personnel.  Efforts were successful, producing annual savings of $1 million.

Cost Rationalization $5 million - Profit margins were consistently decreasing due to status quo mentality, lack of focus on cost control and core competencies.  Partnered with president to develop and implement a cost rationalization plan that removed non-essential personnel, instituted cost control measures and explored outsourcing options to ensure company viability.  Efforts achieved $5 million in profits.

Company Turnaround $4 million - Partnered with CEO of UK aerospace company to develop a recovery / turnaround plan.  Spent significant time in country (UK) and implemented stricter financial controls, more efficient reporting, a weekly cash flow report/projection and developed financial models for key decision making.  Commenced a cost control and cost reduction plan and closely monitored progress.  Secured new business and price increases while reducing costs and dramatically increasing profits.  Refinanced debt through a new asset backed faciltiy and secured additional funding for company.   Improved from experiencing marginal losses to producing $4 million in profit.

Product Outsourcing $1.5 million - Partnered with president and initiated a full analysis of a financially underperforming (break even) product line.  Manufacturing costs were already minimized and elimination of the product line was not an option.  Commenced a sourcing agreement with an international supplier to lift company profits by $1.5 million.

Office Consolidation $500K - Financial lead on a successful lease negotiation in order to consolidate 2 dispersed facilities into one centrally located facility.  Oversaw and coordinated the closing of two exisiting offices, the build out of the new space and the associated move from two locations to one.  Efficiencies from office consolidation produced $500k in annual savings.