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A chief strategy officer (CSO) is an executive that usually reports to the CEO and has primary responsibility for strategy formulation and management, including developing the corporate vision and strategy, overseeing strategic planning, and leading strategic initiatives, including M&A, transformation, partnerships, and cost reduction.
A chief solutions officer (CSO) is a corporate title referring to an executive responsible for the identification, development and delivery of business solutions and services. [1] The primary focus of a chief solutions officer and general manager is to drive growth for the company by creating value for his or her stakeholders. [ 2 ]
The chief services officer (CSO) is a position at the head of a firm carrying significant service design responsibilities.The CSO typically is responsible for developing processes and tools, both internally and externally, for producing maximum value to all stakeholders with intelligent and efficient use of potentially fluctuating human resources.
The average cost is computed by dividing the total cost of goods available for sale by the total units available for sale. This gives a weighted-average unit cost that is applied to the units in the ending inventory. There are two commonly used average cost methods: Simple weighted-average cost method and perpetual weighted-average cost method. [2]
The S&OP process includes an updated forecast that leads to a sales plan, production plan, inventory plan, customer lead time (backlog) plan, new product development plan, strategic initiative plan, and resulting financial plan. Plan frequency and planning horizon depend on the specifics of the context. [1]
A company might use the LIFO method for accounting purposes, even if it uses FIFO for inventory management purposes (i.e., for the actual storage, shelving, and sale of its merchandise). For example, a company that sells many perishable goods, such as a supermarket chain, is likely to follow the FIFO method when managing inventory, to ensure ...
The position of CSO is a strategic position that concentrates on communicating risks and opportunities related to sustainability as well as bottom line impact. [7] In struggling companies, the appointment of a CSO is shown to increase revenue growth. [8] In addition to setting sustainability strategy, the CSO monitors current initiatives. [7]
The control of inventory involves managing the physical quantities as well as the costing of the goods as it flows through the supply chain. In managing the cost prices of the goods throughout the supply chain, several costing methods are employed: Retail method; Weighted Average Price method; FIFO (First In First Out) method