Your profitability depends on efficient and cost-effective operations and distribution channels.
You face tough issues such as increasing competition, rising labor and material costs, shrinking profit margins, process improvement demands and changes in industry standards and regulations. Not to mention the effects of global competition.
Experienced manufacturing consultants and accountants can provide you with comprehensive planning and advisory services to help ensure your continued success in the marketplace.
Because of increases in operating, labor and material costs in the manufacturing industry, there is little room for error in projections. The slightest deviation can result in additional costs and losses. The accuracy of the numbers reported on your financial statements will determine if you are in the position to operate and expand your manufacturing business.
A strong financial position is necessary to obtain the outside financing for growth or securing lines of credit to be used as a safety net when cash flow tightens.
Your management reports provide information of value, such as gross profit margin by customer, product and market; production rates (actual vs. standard); and sales data (actual vs. plan vs. prior year), so that you can identify potential issues before they become problems.
Your internal control and operating systems affect your cash flow as well as your ability to invest in your company.
The key to your financial success is staying on top of all the issues that impact your bottom line. Discuss the following topics with your CPA to ensure that you remain competitive in today’s market:
- Activity-based costing and management
- Analysis of costs vs. estimates
- Budgets and sales forecasts
- Cash flow projections
- Cost-based accounting systems
- Cost containment and management systems
- Distribution models
- Fixed and variable overhead analysis
- Strategic planning
- Inventory management
- Lean manufacturing
- Operational reviews, process improvement
- Pricing strategies
- Profitability enhancement strategies