As this month rushes by, I’ve been thinking about everything – including the kitchen sink.
In part, that’s because of an enlightening conversation I enjoyed with John Hrudicka, who leads the finance efforts for cabinetry and plumbing products maker Elkay Manufacturing Co. The 90-year-old manufacturer makes and sells faucets, cabinetry, countertops, water coolers, food service equipment, and sinks. If my wife walked into their showroom, I would need a second job.
Despite the company’s rich heritage, I learned that the manufacturer is not content to look back.
As Hrudicka explains in this interview, Elkay Manufacturing has developed innovative ways to look ahead with greater clarity. This includes replacing the traditional budgeting process with a rolling forecast (without a pilot, no less!).
Clarity is something I intend to gain while speaking to audiences in conjunction with the U.S. release of Future Ready: How to Master Business Forecasting (Wiley, 2010), a book I co-authored with my friend and longtime research partner Steve Morlidge.
Starting tonight in Dallas, I’ll be talking to folks about the book and signing copies. In the process of these discussions, I will be looking to identify finance transformation stories and practices, like those at Elkay Manufacturing. Their stories illustrate for us all that there are better ways of doing things. As I do, I’ll share those insights right here …
If you are in Dallas tonight, come see me. ###