Unilever Mashreq

Vendor Debit Balances

Aging> 180 days

New Name

Legal Timeline

Artwork

Internal Network

Stint Outcomes

& Feedback

Personal

KEY MESSAGE

Technical

Hercules ... a Learning Experience

• Understanding the Main Tasks of Unilever Departments and their Interdependency (Legal, SC, MKTG, Procurement...etc.)

• Project Management Skills
• Microsoft Project
• Project Network & Critical Path
• Helicopter View vs. Detailed View
• Project Ownership

• The Art of Holding a Successful Meeting (Kotb)
• The Art of Selling a Project

Could have been done better:

• Project Steering Committee

Feedback- Sandra

Feedback- Kotb

To Sandra

*Commitment

*Genuineness

*Ownership

*Speaking up

1. 3+1s: Each Target: Achieved 90%, 100%?

*What? (Results)

*How? (Leadership Style & Behaviors)

2. What went well? not well?

*What are my main strengths?

*What are the key development points?

*What did I not do that you were expecting?

3. Overall Stint Rating

To Kotb

Leadership style:

1. A good listener & A good communicator

2. Respectful

3. Development of Self & Others

4. Trust and Empower

Overall Stint Rating *3*

Targets:

Key Strengths

I have the Mix

Key Areas of Development:

1. Operations: *80-95%*

• Ok...Expected more from an MT

2. Vendors Reconciliation & Aging:

• Ownership (Not involving Kotb in every communication) (Task done as communicated & on time)
• Smooth Handover
• Results Achieved as Expected

3. Hercules: *125%*

• Communication Skills (Despite being new in the comp)
• High level of Ownership

• Dealing with Different Age, Culture & Backgrounds (Being Myself all the time) - turnaround- maturity
• Developing a higher level of Business knowledge

Hercules...

...a look backward

a look forward...

Recommendations

AP Aging

Invoicing & Payment

Learning & Development

• Vendors Ownership: AP Team ONLY – No entries from banks without aligning AP (payment-refund…etc.) --> Traceability and Responsibility
• AP Aging --> AP Team members --> 40/50 vendors each --> Semiannual Target
• Vendors Reconciliation --> Annually (End of year- Q4)

• PO-Invoice Matching (P&Q) --> Treasury
• AP team to Invoice with a copy of the invoice (whether soft from Procurement or hard from Clearance/Treasury) --> Control for Payment (correct payment - correct invoicing)
• Voucher all GRIR every end of month --> Control for Treasury human errors --> Revaluation rule (PO not invoiced since Oct 2015)

Unilever System and Processes

Leadership Profile

Accounts Payable:

Communication Skills:

• GRIR - Invoicing - Payment
• Old POR Account

Clearance-Treasury Payment:

• External with Vendors

• Internal with Procurement

Accounts Payable

Treasury

Planners

Costing

• Form 4
• PO-Invoice Matching
• Credit/Debit Notes

Costing:

• Account Maintenance
• Discounts/Refunds/Rebates

Procurement

• Regional Buyer - Quarterly Pricing Changes
• 5% Tolerance between Order &Delivery

RESULTS

Total Gross Profit Enhancement= 401,431 EUR

11 bps of GP OP 2016

Vendors' Reconciliation Manual

Open in Unilever Books

Open in Vendors Books

KPIs

Vendors Contacts

82% of Foreign Vendors Transactions 2015

Realized in P&L

AP Aging

AP Policy:

ZBC Policy is generic while AP Policy makes sense as it is more customized:

1. States facts from the Egyptian law

(Cheques expire in one year - Suppliers balances expire in 5 years)

2. Takes into consideration the nature of the transaction & of the account

Needs awareness & to be part of KPIs --> for full application

Results

OLD POR

First Run vs. Second Run (Comparable Vendors)

First Run vs Second Run (Total)

85% of the reduction coming from the below Vendors:

Unilever Mashreq

Sandra Boutros

Finance Management Trainee

Financial Controlling Stint

Line Manager: Mostafa Kotb