The Small-Firm Contractor Roundtable held on May 17 at CFMA’s 2022 Annual Conference & Exhibition drew more than 40 construction financial professionals who were engaged in discussing topics of interest to contractors in the $1-25 million revenue range.
Bobby Karam, Manager of Crowe’s Strategic Sourcing & Logistics Optimization Practice, presented on the topic of emerging from the pandemic and supply chain disruption. Patsy Anderson-Dunn then facilitated the roundtable discussions on the topic, which produced a variety of takeaways including:
- Establishing internal controls (how long pricing is good for, dates, etc.)
- Buying larger quantities where necessary
- Adjusting to offer more standardized offerings
- Selling extra inventory online as an additional profit center
- Adjusting your just in time inventory
Lori Swisher facilitated the open topic roundtable discussions, which included the following takeaways:
- Develop better equipment utilization and compare owning, leasing, and renting
- Use the tool GEOPIN to track equipment
- Ensure your benefits align with those you are trying to attract
- Utilize internships
A special thanks to the facilitators who helped develop the agenda and served as facilitators during the roundtable discussions.