Chief Financial Officer
Global Arts Group
Chief Financial Officer for Global Arts Group (New York Graphic Society, Artbeats, TMC, InGallery.com)Companies are manufactures of fine wall art for major retail chain stores.Production facilities based in the U.S. and China.
·Negotiated and closed new bank facility that increased borrowing capacity by 30%.
ØSecured new $1.5million Capital Expenditure Line of Credit for plant expansion.
·Made key personnel changes in accounting and IT department that led to 25% increase in productivity.
·Implementing new cost accounting standards to improve bottom line profits by 5%.
·Led 5S change management and best practices improvement.
ØRecommended change in canvas assembly process that saved $95,000 per year.
·Oversaw Selected and implemented new IT systems, including company wide ERP-MRP system, Time & Attendance system, Production Level activity management and inventory management systems.
·Negotiated sales agreement that led to closing of company’s largest customer ($5MM annual sales).
·Negotiated sales agreement that led to closing of company’s 2nd largest customer ($4MM annual sales).
·Performed SKU gross margin analysis, which led to a 2.5% increase in gross margins ($300,000).
·Performed corrugated inventory analysis and optimization program, reducing on-hand raw materials by $200,000 and cost of goods by 12%.
·Performed pick and pack process review that led to redesign of procedures and reduced pick & pack staff by 20%.
oIn charge of all accounting and finance functions.
oIT department reported directly to me.
oLeading a staff of accounting professionals, including Controller, AR, AP, HR, Royalties and IT.
oEstablish budgeting, projections and flash reports.
oOversee delivery of monthly financial reporting.
oWork with banks to increase lines of credit and improve capital structure.
·Bed, Bath & Beyond