Credit Management zonder verspilling
Wilma Arends, 22 maart 2012
Corporate Fact Sheet 2010
• Over $1.62 billion revenues 2010
• 6600 employees
• 16+ Manufacturing Plants Globally
• 20+ Sales Offices Globally
• Corporate Headquarters: St Louis, MO, USA
• CEO: John S. Stroup
• Ticker Symbol: BDC (NYSE)
• Electronics and Communications markets
• Key markets:
• industrial automation,
• broadcast and
• Enterprise
Belden Company Values
Belden is committed to fulfilling the highest standards
in terms of ethical conduct and integrity at all times
and in all places.
John S. Stroup
President Belden Inc.
•
•
•
•
•
•
Customers define our success.
We invest in our people.
We succeed together through teamwork.
We play to win.
Continuous improvement is our way of life.
We reach for greatness.
Belden Worldwide
Headquarters
Production bases
Sales subsidiaries and offices
Joint-Venture-sites
Austria
Vienna
Denmark
Gjern
Canada
Cobourg
France
Colmar
Domont
Horbourg-Wihr
Lyon
Czech Republic
Horni Pudluzi
China
Beijing
Dalian
Huizhou
Shanghai
Germany
Ettlingen
Neckartenzlingen
Schalksmuehle
Great Britain
Littleborough
Manchester
Wessex
Hungary
Budapest
Italy
Bagnacavallo
Lugo
Milan
Torino
Japan
Tokyo
Mexico
Tijuana
Nogales
Netherlands
Hilversum
Venlo
Russia
Moscow
Singapore
Singapore
Spain
Barcelona
Madrid
Sweden
Malmö
Switzerland
Dachsen
UAE
Dubai
USA
St. Louis, MO
(Headquarters)
Chambersburg, PA
Leominster, PA
Richmond, IN
Washington, PA
Belden European Sales Footprint
Austria
Vienna
Belgium
Brussels
Germany
Ettlingen
Neckartenzlingen
Schalksmühle
France
Domont
Horbourg-Wihr
Lyon
Great Britain
Littleborough
Manchester
Wessex
Hungary
Budapest
Italy
Agrate Brianza
Giaveno
Netherlands
Hilversum
Venlo
Russia
Moscow
Spain
Barcelona
Madrid
Sweden
Malmö
Switzerland
Dachsen
Belden Manufacturing Footprint EMEA
Czech Republic
Horni Pudluzi
Denmark
Gjern
United Kingdom
Littleborough
Germany
Ettlingen
Neckartenzlingen
Hungary
Budapest
Italy
Bagnacavallo
Netherlands
Venlo
History
In 1902, Belden is founded by Joseph Belden
in Chicago, Illinois.
In 1993, Belden expands
into Europe.
In 2004, Belden and
Cable Design Technologies merge to form
Belden CDT Inc.
In 2006, Belden CDT Inc.
is renamed Belden Inc.
In 1924, Hirschmann
company is founded by
Richard Hirschmann in
Esslingen near Stuttgart,
Southern Germany.
In 2005, Hirschmann
Automation and Control
GmbH is formed.
In 2007, Belden Inc.
acquires Hirschmann
Automation and Control.
In 1933, Lumberg company is founded by Karl
and Erich Lumberg in
Schalksmühle near
Düsseldorf, Germany.
In 2002, Lumberg
Automation Components
GmbH is formed.
In 2007, Belden Inc.
acquires Lumberg
Automation.
Credit Management Belden EMEA
• Belden strategie:
Identify opportunities for enhanced revenue
generation by making risk transparent and
acceptable by Belden Strategy, and keeping
receivables at a low level.
• Wees pro-actief: ken het land waar je verkoopt, je
markt en je potentiele klant!
Lean Management
• Definitie: Het vastleggen
van processen welke
onze teams en leiders in
een lijn zetten van
constante vooruitgang.
Standardize
Measure
Continuous
Improvement
Problem
Solve
Identify
Gaps
Het Team
Susan Sun. Junnie Zhu. Wilma Arends. Eric Chan. John Einwalter. Brent White.
Tom Hale. Dennis Yang. Wayne Shen. Barry Leung. Chad Kibler. Blue Li
Scope & target sheet
Kaizen Event Scope & Target Sheet
Basic Data
Kaizen Location
Process Boundaries
Tool
Start Date
Daily Start Time
Team Meeting Area
Kick-Off Meeting Room
Kick-Off Meeting Date
Report-Out Meeting
Room
Report-Out Meeting
Date
Kaizen Team
Suzhou Shared Services
AR Credit Policy and related procedures
Transactional Process Improvement (TPI)
End Date
09/12/11
Daily End Time
8:30 AM
Process Owner
09/16/11
TBD
Team Leader
Co-Leader
Facilitator
Co-Facilitator
John Einwalter
Eric Chan/Chad Kibler
Brent White
Suzhou Meeting Room
via teleconference
9/12/2011
Kick-Off Meeting
Time
8:30 AM
(1) Wilma Arends (EMEA), (2) Tom Hale (BAG), (3) Wayne
Shen (APAC) (4) Blue Li (APAC) (5) Susan Sun (APAC) (6)
Team Members Barry Leung (APAC) (7) Dennis Yang (APAC) (8) Junnie
Zhu (APAC) (9) Eric Chan (APAC) (10) John Einwalter
(Corp) (11) Chad Kibler (Corp)
Suzhou Meeting Room
Team
9:30 AM Resources
Problem Statement
In 2011, the global organization has struggled to meet free cashflow and OWC targets. A large contributor to not meeting those targets is the amount of Account
Receivable that are past due. As a global organization the past due amount has ranged from USD 35.2 million to 54.6 million. The company does not have a global
risk profile when extending credit to customers or a standard decision process that each location follows.
09/16/11
Report-Out
Meeting Time
How Is The Need For This Kaizen Tied To A VSM? How Is the VSM Tied To SDP and an AIP, TTI's, or KPI's?
In order to reduce the amount of Past Due AR, we must understand and standardize the approaches we take to customer credit risk as a global organization. A
reduction in Past Due AR will improve OWC.
Kaizen Objectives (Related To VSM, SD, AIP, TTI's, Or KPI's)
The objective would be to review current credit policies and potentially create standardized policy/template approach that can be utilized globally. Standard processes
can be used in determining how we grant and review customer credit lines to prevent the potential for past due receivables. The focus will be on how we determine
when and amount of credit to extend to customers and the tools used in the process to make a quality decision.
Roadmap Management
Process – Operational Cash flow
Operational
Cash Flow
Accounts
Receivable
Manageme
nt
Risk
Profile
Credit
Approval
Process
Standard
Work
Invoicing
Standard
Work
Cash
Application
Standard
Work
Dunning
De huidige realiteit
Waar willen we heen?
Future State: Global Credit Policy
Setup/change
account
Gather Data
建立/更改帳號
資料收集
Request
credit
信貸申請書
credit
application
add form
completed
online
Review
checklist
名單審閱
Evaluate data
評估數據
Standardized
credit policy
matrix
Credit
recommendation
Approval
reject/modify
信貸推薦
同意/拒絕/修改
Credit decision
信貸裁決
Agreement？
Approval
同意
同意
信貸政策標準化
Low risk prompt
payment/short terms
低風險
VOC Internal= 及時支付/短期交付
VOC External=
High limits
quick decision
Flexible terms
上限高
決策快
條款靈活
信貸申請
use preferred
supplier
選用優良的供
應商
Develop
alternative
備用方案
Acceptance----(yes)→
----( NO)↓
↖（credi t）
Acceptance--(yes)→
---( NO)↓
Approval
同意
Escalate ↙（s a l es ）
Exceptions Approval
---(yes)→
matrix
Proceed?（繼續）
-----(yes)→
----( NO)↓
例外規則
---( NO)↓
the end
the end
結束
結束
External
Sales
customer 銷售
外部客戶
Approval
同意
Credit
Finance
Risk/Collecti
Leadership on team
財務決策者
Division
Sales
Manageme Marketing
Leadership nt
市場
銷售領導者
各部門參與
者
信貸風險&催
收團隊
Policy
CORPORATE ACCOUNTING POLICY
Policy Number:
Page 1
Issue Date:
Subject: Customer Credit Procedure
Purpose
To define the procedure that Belden companies will follow when establishing and extending credit to
customers
Scope
The scope of this policy applied to all of Belden’s companies
Related Procedures
APF3- Receivables and Allowances for Receivables
Policy
All Belden companies will utilize the global credit review checklist and the global credit review tool when
establishing or extending credit.
The checklist and credit review tool are attached.
Checklist en tools
Proces
Key Kaizen Breakthrough
Identified Issue
Process Change in Kaizen
Lack of a standard method
globally to evaluate data.
A standard checklist for data
evaluation was established.
Differing approval levels and
personnel existed globally.
Standardized our approach to
approval globally.
We lacked a standard tool to
evaluate customer credit risk.
Leveraged the EMEA tool, and
put it into the global process.
Results
Metric
AR Past Due
Pre-Event
Baseline
Pre-Event
Target
Est. Post
Kaizen
Actual
Improvemen
t*
$55.9 Mil.
(Jun)
$43.1 Mil.
(Dec)
$40.0 Mil.
(Dec)
$3.1 Million
for the
remainder of
2011
* Improvements from credit policy and collection changes versus previous KPI targets
Communications Plan
Audience
Objective
Focused Key Messages
Media
Frequency
Assigned
Due date
CFO
Engagement
Need senior management support coming out of the Kaizen
Various
Various
Treasury
ASAP
Regional VP Finance
Commitment
Implementation support, follow approach consistently
FLT
Project / Newspaper Item
Treasury
Oct 19-20 in STL
BU Leadership
Acceptance
Sell benefits of Faster Credit Decisions, Less Negotiations, Shared Standards (customer
treatment, systems), Admin Savings, Lower OWC
SLT Meeting
One-time
CFO
Next meeting after Oct
20
Understanding
Sell benefits of Faster Credit Decisions, Less Negotiations, Shared Standards (customer
treatment, systems), Admin Savings, Lower OWC
Meeting with VP, FinanceOne-Time - includes
presentation/instruction on
escalation
VP Finance & Credit
Leader
Soon after FLT
Sales
Commitment
Sell benefits of Faster Credit Decisions, Less Negotiations, Shared Standards (customer
treatment, systems), Admin Savings, Lower OWC
Email, CBT Training?
Ongoing
Sales LT for the
Region
TBD
Credit Teams
Engagement
Important new enhancements to the credit process. Will require training on new process
(Checklist, Matrix, Escalation)
Various
Ongoing
Tom Hale, Wilma
Arends, Eric Chan
TBD
Sales Leadership
A structured communication plan has been put together to insure success
in implementation.
Lessons Learned
• Wilma’s Law: The warmer the climate, the higher
the Days Sales Outstanding.
• We have much better understanding and
agreement among our three divisions.
• I learned about the tools and processes that we
can leverage.
• We accomplished far more than I dreamed
possible.
• We learned that we were similar in our
approaches.
Vandaag:
• Minimaliseren van risico
• Kredietwaardigheid van klanten, landen en markten
– Continue monitoring, bezoeken, informeren
– Country rating
– Marktonderzoek
Bedrijfsprocessen
• Controle over leveringen:
• Verlagen leveringstijd: openen warehouse op locatie
• Harmonisatie incoterms: CIP-CPT
• Track & trace
Check
Point
Rotterdam
Check
Point
Dubai
Check
Point
Agent
Check
Point
Customer
Bedrijfsprocessen
• Klachten
• Twee wekelijkse vergaderingen met kwaliteit- logistiekinside sales afdeling
• Root-cause analyse
Collection
• OnGuard
Business Units
Profielen: risico groepering per klant
– Assessment
– Benadering
Regio’s
Totale risico Belden: customer groups
Vandaag:
Marketing
BU
Sales
&
Complaints
External
information
sources
Sales
Sales
Toolbox
Cretix Credit
Assessment
Customer creditworthiness
Country risk
Market risk
Supply
Chain
STAP
VOOR
STAP