MPower and MERALCO affiliate Retail Electricity Supplier, Vantage Energy Solutions and Management, Inc. (Vantage Energy), in partnership with Meralco Power Academy (MPA), Meralco’s subsidiary and a premier training and energy education provider, held a forum entitled “Trends and Updates in Procurement and Finance Forum” at the Meralco Multi-purpose Hall on August 14, 2018.
Distinguished icons in Procurement and Finance served as honorary speakers - Mr. Charlie Villaseñor, Chairman of the Board of Procurement and Supply Institute of Asia (PASIA), shared a very insightful discussion on how procurement and supply chain excellence can benefit a company. According to Mr. Villaseñor, in most companies, Supply Chain and Procurement is usually perceived to be the least significant among the different divisions, when in fact, it is one of the most critical in contributing to a company’s bottomline.
Mr. Jekell Salosagcol, former VP of US Operations of Theorem Global Business Outsourcing Inc., discussed in detail the Philippine Financial Reporting Standards (PFRS) 15: Revenue from Contracts with Customers. Effective January 1, 2018, revisions in the timing of revenue recognition were instituted. Mr. Salosagcol, being a Professor, engaged with the audience by discussing a number of case studies to emphasize his point that revenue is recognized when the customer obtains control of the promised asset.
Lastly, Mr. Rowen Untivero, Partner and Chief Sales Strategist of Mansmith and Fielders, Inc., tackled the difference between bargaining and negotiation in his talk about Synergy in Energy: Why Mutualism Still Makes Sense in a Predatorial Jungle. According to Mr. Untivero, bargaining is only for the short-term and usually tends to reduce value, while negotiation is sustainable for repetitive encounters and usually multiplies the value; supportive of his main thesis of mutualism.
