石油化工股份有限公司财务成本分析项目方案草案

石油化工股份有限公司财务成本分析项目方案草案内容摘要：

Working Capital Asset Productivity Stimulate Sales • Economic Devel Activities • Expand service territory Manage Cost • Fuel usage • Wage Rates Manage Cash • Billing/Collection Cycle • Fuel and Stock Investment Return on Capital • Asset Availability • Asset Utilisation Cash Flow Investment 财务回报 价值驱动 KPIs % Rev New Products % Rev New Markets Average heat rate % Cost Reduction Inventory Turns Receivable Turns Equivalent Availability Capacity Factor 方向 反馈 战略 我们该观注什么 ? 我们如何去做 ? 如何知道我们做得对 ? KPI被用于监督运作，反馈于目标设立 什么是目标 ? Link to KPIs XXXPEC Chemicals Marketing Refining Upstream Strategy focused on petitive position and new products Cost control, capacity utilization, new product development and product line management Strategy focused on petitive position Pricing, regional shifts and format economics are key drivers Many small bets Value driven by customer strategy, store economics and growth Strategy focused on flexibility versus efficiency Locked into LP Mindset? Find “out of box” options Cost control and throughput are key shortterm value drivers Strategy focused on investment options Field versus new geography investment and exploration costs versus success rate are key drivers Many bets Value driven by price investment strategy and operating effectiveness Product line TSR, Plant CFROI BU TSR amp。 Station CFROI Project IRR and refinery CFROI BU TSR amp。 project IRR Metrics implemented 按不同的事业部特性确定价值衡量指标 Link to KPIs % Gross Investment CFROI 10 20 30 40 50 60 70 80 90 100 5 0 5 10 20 Gas Exploration Chemicals Refining and Marketing Cost of Capital 15 各类投资项目的审核从划分事业部起始 Growth Projects CFROI Improvement Projects CFROI Improvement Projects: Asset management % of Gross Investment % Avg CFROI in Plan 10 20 30 40 50 60 70 80 90 100 5 0 5 10 15 20 25 30 35 Chemical 1 Exploration Gas 1 Chemical 2 Gas 2 Gas 3 Marketing Refining Cost of Capital Chemical 3 Chemical 4 而事业部进一步按业务类型细化 石油开采事业部 市场零售 7 . 0 7 . 27 . 56 . 05 . 44 . 33 . 03 . 50 . 01 . 02 . 03 . 04 . 05 . 06 . 07 . 08 . 01993 1994 1995 1996 1997 1998 1999 2020C F R O I W A C C炼油 举例：细分后的不同结果 2 . 21 . 1 0 . 8 3 . 4 1 . 6 1 . 40 . 2 0 . 1 4 . 0 2 . 00 . 02 . 04 . 06 . 08 . 093 94 95 96 97 98 99 0C F R O I W A C C1 0 . 21 3 . 5 1 3 . 11 2 . 81 1 . 9 1 2 . 11 2 . 5 1 2 . 30 . 02 . 04 . 06 . 08 . 01 0 . 01 2 . 01 4 . 01 6 . 093 94 95 96 97 98 99 0C F R O I W A C CLink to Strategy Cleaning Supplies Household Products Chemical Additives Fertilizers Specialty Plastics 产品 市场 零售 工业 商业 政府 直销 Major Market Minor Market No current market 举例 (续 )：按销售渠道进一步细化市场零售事业部 Link to Strategy 利润表 : 销售 利润 管理费用 利息 折旧 税务 资产负债表 : 应收帐款 存货 固定资产 应付帐款 负债 可获取 可获取 按人力分配 按负债额分配 预定年限 Division rate 按产品 可获取 特殊区分 按销售成本 按负债 /权益 会计科目表 预计流程 而进一步将资产分配到各市场单位可深入分析投资回报率 Link to Strategy 10 20 30 40 50 60 70 80 90 100 10 5 0 5 10 15 20 25 30 商业 直销 零售 工业 政府 CFROI % % Gross Investment WACC Consolidated CFROI 渠道获利率分析揭示了渠道的强弱 Link to Strategy Sample Stores CFROI Site Keep ? Keep Fix Close Strong Weak Weak Strong Stores were grouped for next steps Cost of Capital % Cons. CFROI % 5 0 5 10 15 20 25 30 Management 而零售渠道的进一步细分可揭示各零售点的强弱 Link to Strategy Price/ Order Order Size 0 1 2 3 4 5 6 0 10 20 30 40 50 60 70 80 90 100 Problem orders 而工业渠道注重于挖掘扩展能使之盈利的顾客 Link to Strategy Commercial Direct Sales Retail Industrial Government Customer Group • Good business, but limited growth • Generally ignored, profitable but unexciting • Well managed • Value mature • Thought to be profitable • Good relationships with customers • Problem area • Necessary evil Prior View • 10% increase in growth doubles value • “Hidden jewel” readdressed marketing strategy • Results below peers in region • Throughput identified as key value driver • Site acquisition model redone • Asset intensity the key • Focus on raising CFROI • Significant problem area Post VBM View • Maintain • Aggressive growth plans • Site improvement program • New store format • Evaluate accounts individually • Focus on valuable customers • Focus on improving CFROI • Exp。