Pete Bonacci

last updated 1/27/2018

Pete Bonacci

Senior Finance Director - Worldwide Operations Hardware Supply Chain at Oracle Corporation

Location:
500 ORACLE PARKWAY OP 7, Redwood City, California, United States
HQ Phone:
(650) 506-7000

General Information

Experience

Area Controller for Global Supply Chain Financial Operations - StorageTek SA

Recent News  

IndustryWeek : Continuous Improvement -- Getting 'Payable Transactions' To Pay Off

Financial executives also will want to get their auditors involved from the start, says Pete Bonacci.He is a Louisville, Colorado-based area controller for global supply chain financial operations with StorageTek, a 2005 Best Plants winner that is now part of Sun Microsystems Inc., Santa Clara, Calif. [Editor's Note: This program was established and these interviews conducted before the Sun purchase was final this fall, so for the purposes of this article, the company will be called StorageTek.] "You have to construct the deal appropriately to make sure you're following GAAP [generally accepted accounting procedures], and that you have business processes that work for your supply chain." And, given the myriad regulatory, purchasing, logistics, operational and accounting issues inherent in trade financing, it's important to involve professionals from each of these areas when setting up a program, Bonacci says.That made it difficult for some smaller suppliers to participate in the SLC, Bonacci says."It just didn't make business sense for them." Bonacci, working with Lightning Trade Group LLC, Livermore, Calif., structured what Ken Rosenberg, managing member of Lightning, calls "an inventory ownership program."Other parties in the program include several funding partners and a logistics firm. Under this program, a funding partner takes ownership of the goods either at the supplier's dock, or once the goods arrive at the SLC.In doing so, they take on the risk of damage to the goods, as well the risk of any currency fluctuations.The funding partner then pays the supplier at terms the two parties negotiate."They become like a distributor," Bonacci says.

Read More

Browse ZoomInfo’s Directories