FINANCE & COMMERCE

To achieve its mission of producing high quality primary aluminum products at competitive cost for its customers worldwide, VALCO will have to meet its plan targets in terms of both cost savings and performance indicators.

The Finance and Commerce Department through its activities of supply chain and materials management, information provision and score keeping plays a significant part in the achievement of this goal.

The Finance and Commerce Department supports the plant’s mission and vision through the use of contemporary Information technology, to provide accounting information timely for management use.

The department also develops and maintains structures to meet VALCO’s operational needs in the most efficient manner and better manage our inventories and working capital through co-ordination amongst Production, Maintenance and all supporting departments.

MISSION

To work as a team (with positive attitude) to provide quality service to our stakeholders in a productive and cost effective way that enables VALCO to achieve its mission of producing high quality primary aluminium products at competitive cost for its customers, and provides our employees with a rewarding, challenging and safe working environment. The Finance & Commerce Department consists of  the following sections:

  • Accounting & Financial Analysis/Planning
  • Logistics Department,
  • Management Information Systems

 

ACCOUNTING & FINANCIAL ANALYSIS/PLANNING

FUNCTIONS

  • Collect and Analyse Cost
  • Plant Budget Forecast & Preparation
  • Cost Benefit Analysis of Projects to support management decision making
  • Safe guard assets of the company
  • Treasury and Cash Management
  • Liaise with Statutory Institutions such as IRS, VAT, SSNIT and EXPORT Promotion.
  • Collating and reporting of Financial Performance & Operational Performance Indicators
  • Paying for goods and services .
  • Timely invoicing of Metal sales and other supplies and services to our customers and ensuring timely and accurate payment
  • Liaise with External Auditors during annual statutory audits.

ROLE

Provide management with timely and accurate financial and cost information, to support strategic management and decision-making.

STAFF

Five (5) Managers/Professional Accountants

 

LOGISTICS

VISION

We shall build a strong logistics department that will ensure the cost-effective flow of materials to meet internal and external customers’ expectation. This will imply the following:

  • A fully developed and strong-supplier/vendor-base both for local and overseas materials.
  • A well-coordinated materials requirement planning (MRP) system in place; based on the ‘Pull and Push’ system (customer demand driven as well as anticipating customer needs). This involves creating the right business relationships with those suppliers of relevant materials and services as well as third-party transporters in our international business.
  • Well-integrated sub-functional units within the logistics department for purposes of synergy.

STAFF

The Logistics Department currently has staff strength of 21; 8 managers/specialists and 13 clerks.

ROLE

To ensure that the acquisition and distribution processes of plant supplies, products and services are done in a way that continually improves the cost and revenue associated with plant logistics operations in line with the values, principles and targets of the new Valco vision.

MAJOR FUNCTIONS

  • Cost-effective supply of operating, maintenance and repair materials as well as services and contracts.
  • Maintenance of inventories at adequate levels.
  • Building of a strong local supplier base for global sourcing.
  • Training of supplier and customers into becoming vital chain members of the VaLco Supply chain
  • Training and development of Logistics staff.
  • Continual identification of cost saving opportunities.
  • Management of Traffic and port operations in a cost effective manner.

 

MANAGEMENT INFORMATION SYSTEMS (MIS)

VISION

Easy access to information from anywhere  at all times at optimal cost.
The department will seeks to provide VALCO with leadership, direction and support for user driven, user friendly, real time data-based systems to facilitate decision making at all levels in support of the plant’s operations.

STAFF

M.I.S. currently has permanent staff strength of four (4) and one (1) contractor, namely:

1 PC Technician (Contractor)
1 Applications Developer (Assistant Manager)
1 Applications Specialist   (Manager)
1 Network Manager
1 M.I.S. Area Manager

ROLE

The role of the MIS section of the Finance and Commerce Department is to furnish management with the necessary information which must not only be accurate but also available on time to facilitate planning, organizing and controlling of the plant's operations at optimum cost.

MAJOR FUNCTIONS

a. Provision of reliable and timely computer processing services.

b. Train users to benefit from the use of the computer services.

c. Advise users on existing and potential computer applications with emphasis on cost control

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