Operational CFO

Redefining Opportunities at 3M

When looking at data and numbers, it is critical to understand the drivers and to dig deeper before taking seemingly obvious decisions.

A UK factory was under threat of closure because it was losing money. After working closely with the MD and operational staff, looking at all the processes, understanding the business bottom up, reviewing costs, plus internal and external contracts, I concluded that that factory was in fact profitable and a valuable business asset. The misguiding issue was an internal transfer pricing policy, which I was later tasked with reviewing.

3Ms internal transfer pricing was changed, more efficiencies were brought into the factory as a result, and the factory still lives on today.