Please share and extend one last thank you to everyone who contributed, planned, and helped put together an amazing and sensational vacation package for last year’s fundraising efforts. Mark and I made some amazing memories and made the most of our week-long stay including a dinner cruise, a tour of the palace, and a day trip to visit the Arizona Memorial and Missouri. Of course, there was so much more between, but what a great way to start the year!
Mahalo and thank you again!
Teresa… Read the rest
formulating new resolutions for 2019 and before trying to reinvent yourself,
you need to stop and make sure that you are in good health, personally and
professionally. In fact, many of us will go to the doctor once a year for a
full physical. Why? To make sure that we are staying healthy, or to discover
any health issues that we need to address before they become serious problems.
as professionals, we need to gauge our professional health. Once a year we need
to take stock and ask the right questions:
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am I today in relation to my resolutions set forth on January 1, 2018?
did I accomplish in 2018?
did I do right?
Credit professionals field questions daily from their sales department, senior management, customers and others along the supply chain. However, one of the most important questions for creditors comes from themselves. “How much credit should I grant my customer?” Pam Krank, president with The Credit Department Inc., reviewed this question in detail this month during a webinar on the topic for NACM. Krank will also dive into credit management data analytics at the 123rd annual Credit Congress in Colorado this May.
To answer this question, it all starts with a credit policy, said Krank. The credit policy sets forth a company’s risk tolerance which in turn determines credit strategies which equal credit line recommendations. “Not all credit lines are the same across your customer base,” noted Krank.… Read the rest
Albert Einstein once said: “The measure of intelligence is the ability to change.” As global credit professionals, we need to change and adapt if we are to succeed in a global world environment. But change does not mean to empty ourselves of our values and real nature—our core and substance—to adapt.
The 21st Century has introduced many challenges that credit professionals need to face and work with in order to succeed. One of the key challenges is the speed of change and the transformation of the digital and tech environment. This environment is forcing companies to seek efficiency to stay relevant. In the process, some have lost their humanity and human touch by depending on robots and machines.… Read the rest
Republished from the CFDD National Newsletter
Having served on both my local NACM Affiliate Board and CFDD Chapter’s Board, you might think I would have a unique perspective on both organizations, but actually, there are quite a few CFDD Portland Chapter members, past and current, that have served on both boards. We have a uniquely wonderful relationship here in the Pacific Northwest between CFDD Portland Chapter and our local NACM Affiliate – NACM Commercial Services. We support each other. Our local affiliate handles the Portland Chapter’s billing and sends out our monthly newsletter. Five of their staff are members of CFDD and we have an NACM liaison at all our monthly education meetings. When we hold a credit retreat, we work with NACM on scheduling, so that they do not offer a class on the same day as our retreat.… Read the rest
Once a thriving toy retailer, Toys R Us is no more. Debt struggles repeatedly struck the popular chain store in 2016 and led the company to hire a law firm for corporate restructuring the following year. In September 2017, the century-old New Jersey-based company filed for Chapter 11 bankruptcy, only to decide to liquidate in March 2018.
Despite the impending downfall, suppliers stayed supportive of Toys R Us by extending hundreds of millions of dollars in trade credit and lengthening invoice payment periods, hoping the retailer would turn around—an objective Toys R Us vocally expressed to its suppliers. Instead, Toys R Us left suppliers high and dry after announcing plans to liquidate its assets, close hundreds of stores across the U.S, and effectively leave suppliers unpaid.… Read the rest