Looking back, John Lutz doesn’t hesitate to recall a strategic turn along his career journey when, during his tenure as director of finance at Charter Steel, he transitioned a cumbersome, error-prone Excel model into an advanced, activity-based costing system. By involving stakeholders from across the company, Lutz tells us he not only gained buy-in but also unlocked the power of teams to create a tool that transformed the way the business operated, enhancing both efficiency and profitability.
Read MoreYears later, as CFO of Sellars, a manufacturer of household products and supplies, Lutz spearheaded efforts to modernize the company’s data infrastructure. “We’ve come a long way in two years,” says Lutz, who tells us that in the not-too-distant past, the company’s data storage strategy involved a row of filing cabinets. Along the way, real-time dashboards replaced static reports, enabling instant access to crucial data. These changes, Lutz explains, turned the finance department into a strategic partner that proactively identified and addressed issues.
His commitment to leveraging technology hasn’t stopped there, as he looks to introduce robotic process automation to streamline repetitive tasks, freeing up his team to focus on higher-value activities. Extending beyond internal collaborations, his approach to empowering teams was further evidenced by his close cooperation with supply chain partners to optimize procurement processes and nurture long-term, sustainable relationships.
Lutz’s CFO mindset exemplifies how embracing the power of teams and technology can drive transformative change. By fostering collaboration, leveraging data, and empowering his team, Lutz says he has been able to propel organizations forward, demonstrating that finance can be a catalyst for strategic growth and innovation.
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CFOTL: Tell us about Sellars … what does this company do, and what are its offerings today?
Lutz: If you’ve ever done any home improvement or painting projects or worked on your car or motorcycle or boat, there’s a chance that you’ve purchased some of our products. If you go into any Home Depot or Lowe’s around the country or an auto parts store like O’Reilly or NAPA—or even Walmart—you’ll see them. We sell white rags in a box, blue shop towels, all kinds of heavy-duty wiping and cleaning supplies.
Read MoreWe have a proprietary technology that takes a giant roll of base paper—think 8 feet long and 12 feet in circumference—and runs it through our process to create this strong, absorbent product that you can use to clean up, well, whatever it is that you have to clean up. We have a patent on how we use recycled paper for this, so we’re the only company in the world that has patents for both this technology and its use of recycled paper. Kimberly Clark is another company that has this technology, but we have the recycled aspect of it, which gives us a cost advantage against them. We can use curbside cardboard as part of our raw material input instead of virgin paper, which means quite a savings for us.
The other sort of main product that we have brought to market has been our new kitchen towel, Bravo, which is now available in about 300 Target stores nationwide. It’s made of 90% recycled material and performs well against big names, but it’s recycled. You know, this is kind of an interesting business to be in. We sell things that are designed to be thrown away, basically. So, when we add the recycled aspect to our products, this makes consumers feel at least a little bit better. jb
“Just remember that you don’t have to do it all yourself! Your role as CFO is to build a team that can drive the business forward whether you’re there or not. Recruit for fit, develop the skills, provide the tools and direction, and then get out of the way!” –John Lutz, CFO, Sellars Absorbent Materials
Sellars | www.sellarscompany.com | Milwaukee, WI