Service Type: Data Analytics and Quantitative Solutions
Project: Development of Risk Reporting and Accounting
Our Mid-South client was developing a Direct Ship grain marketing business. Senior management wanted to ensure that the proper risk management, inventory position reporting, and accounting practices were followed.
Approach & Results:
Substantial time was spent understanding the underlying business practices of the Direct Ship strategy. Business practices were implemented to ensure timely receipts of bills of lading, weights, and measures to accurately report the flow of grain from the farm (or other off-site storage facilities) to the end users of the grain. Reconciliations were implemented to maintain a system of checks and balances to ensure all Direct Ship related grain was properly accounted for and invoiced to the end user.