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The Saudia Dairy and Foodstuff Company (SADAFCO) story started in 1976 when a combined project between three dairy firms in Madinah, Jeddah, and Dammam was shaped between Saudi, Kuwaiti and European businessmen and the company initiated manufacture with Saudia Milk at Jeddah’s factory in 1977. Ten years far along the European partners sold their stocks to Kuwaiti and Saudi stockholders and in 1990 the three dairy firm’s compound into one to legitimately form SADAFCO. An initial public offering (IPO) in 2005 run to the firm’s list on the Saudi Arabian Stock Exchange.
SADAFCO Board of Directors are HH Sheikh Hamad Sabah Al-Ahmad a chairman of SADAFCO, Mr. Faisal Hamad Mubarak Al-Ayyar and Mr. Ahmed Mohamed Hamed al Marzouki are Board Member SADAFCO, and others all are the same. The management team are Wout Matthijs he is the CEO, the director of supply chain is Raffael Reinders, and Paul van Schaik he is the director organizational development, finally the direcyor of sales & distribution is Marek Mierzejewski. The company Vision is “To be the Brand of Choice”, and their Mission is to Develop, produce and market a range of nutritious food propositions for all age groups and create maximum shareholder value through teamwork, moreover the company’s Values are Integrity, Passion, Respect for All, and Quality.
SADAFCO factories presently produce nearly forty million cases of produce each annum, its extended distance transport trucks travel eighteen million kilometers each year carrying product to twenty-three workshops that facility more than 32,000 clienteles across the gulf zone. SADAFCO has a recognized sales and supply network of nineteen storehouses in Saudi Arabia and one workshop each in Qatar, Bahrain, Kuwait and Jordan, as long as the company with extensive sales saturation. Furthermore, the firm entrees the UAE and more than a few other export shops over external suppliers and agents. The corporation’s produce collection includes a varied kind of stuffs across numerous groups containing; Long Life Milk, Ketchup, Butter, Ice Cream, Cheese, Tomato Paste, Snacks, Cream, Fruit Nectars, French Fries Instant, and Milk Powder. SADAFCO now proposals about one hundred Stock Keeping Units (SKU) with its essential products being advertised below its leading Saudia brand. Additional trademarks in the collection contain Crispy, Baboo, Majestique, Sensations and JUMP.
SADAFCO & Quality, as a important local food producer, SADAFCO has applied a Food Safety Management System (FSMS) conferring to the globally believed ISO 22000:2005 Standard. An FSMS is a system of unified fundamentals that syndicate to confirm that food doesn’t cause opposing social health effects. These would contain plans, strategies, policies, processes, objectives, procedures, practices, responsibilities, documentation, controls, roles, resources and records complicated through the dispensation of food products. The key features in this system that confirm food safety during the food cable up to the final ingesting are: Hazard Analysis & Critical Control Points (HACCP) principles, Good Manufacturing Practices, Interactive communication, and System management. SADAFCO, as an openly registered firm, is compulsory to follow to the nation’s food rules and likewise to achieve customers’ wants and hopes.
Financial management decision types
The three types of financial management decisions are capital structure, capital budgeting, and working capital management. A commercial deal that contain capital budgeting is if the company must open additional store or not. A business contract that would consist of capital structure is determining to concern new credit to settle old debts. A commercial transaction which would consist of working capital management is about if company would extend credit to a client.
On behalf of SADAFCO they are focus in Industrial has been on expansion manufacture abilities and cumulative capacity. This investment remains, in malice of declines in the economy, to certify SADAFCO is greatest positioned when market situations alteration for the improved. On Jeddah Factory equipment is existence moved to allow for an extra preparation part to be fit while on the packing side additional high speed route is in apartment and work has begun on providing automatic palletizers for the high speed unit. The growth of new workplace space and a cafeteria for Jeddah’s Factory workers has also been started. In 2017, SADAFCO has better-quality its market share throughout the previous twelve months in malice of a tough exchange year, representative the good health of its robust and hardy brands and the efficiency of its Advertising, Skill Marketing and Sales & Supply purposes.
Financial manager role
Financial activities of a company is one of the greatest significant and multifaceted activities of a company. Consequently in demand to take caution of activities a financial manager achieves all the necessary financial activities. A financial manager is an individual who takes care of the significant financial purposes of an corporation. He should uphold a distant sightedness in direction to warrant that the funds are used in the well-organized way. His movements straight affect the Success, growing and kindness of the firm.
Ian Gowlet, the Chief Financial Officer at SADAFCO. His role in the company was; raising of Funds, It is the duty of a financial manager to choose the ratio among debt and equity. It is significant to maintain a good balance among equity and debt. Allocation of Funds, Formerly the funds are elevated over diverse channels the next significant function is to assign the funds, In demand to allocate funds in the greatest likely manner the next point necessity be careful. Profit Planning, Profit making is one of the major purposes of any commercial organization. Profit earning is significant for existence and nourishment of any company. Profit planning mentions to correct usage of the profit made by the company. Sympathetic Capital Markets, Shares of a firm are dealt on stock conversation and there is an incessant sale and acquisition of securities.
Conflict of interest
A conflict of interest happens when a company or person turn out to be untrustworthy as a consequence of a crash between individual and professional businesses. Such a struggle occurs when a corporation or persons has a conferred interest, such as status, knowledge, money or standing, which places into enquiry whether they can be impartial in their decision-making. Once such a condition rises, the party is typically requested to eliminate themselves, and it is frequently officially obligatory of them. By the side of SADAFCO during our search we could not find any conflict of interest through the three year and this is a great sign for this company. Because they follow a rules and strategies between them and the customer and this methods will be mention next part.
Methods and solution to avoid the conflict of interest
Businesses want to found a policy through which conflicts of interest between a business and its board, staffs and contractors are escaped. In this rule, classify and list what circumstances constitute unprincipled conflicts and duty a group with the responsibility of applying the policy by broadcast for the conflicts recorded. Such a policy must also obviously national all the possible subsequent actions the company might take in reply to any conflict of interest originate in respect to any individual previously associated with the firm and any applicants for rental.
There are several methods to avoid or solve the conflict of interest in a company such as; choose who in the firm to responsibility with the job of enlisting the official conflict policy. Furthermore, reflect and then obviously state all possible resultant actions the organization might take in reply to a revealed conflict, or a condition found to establish a conflict afterward official investigation. Additionally, contain at smallest two distinct cables of reporting to safeguard secrecy and liberty from consequence to inspire employees to come onward with info about conflicts. Moreover, maintaining the policy dynamically by ongoing to add to or alter it in reply to the firm’s needs. On the same side, Setting out a step by step process by which supposed conflicts are inspected and elect who behaviors this investigation.
SADAFCO has two specific method for avoiding the interest’s conflict which are; Recognize weaknesses and strengths in the Board and suggest commendations in the interests of the corporation. Certify on an annual base, the individuality of the self-governing members and the lack of any conflict of interest if the colleague grips a membership of the Board of Managements of a different firm.
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