Posted on Wednesday, March 6, 2019 by Jon Shoop, CPA
What are the concerns and challenges of manufacturing companies in Northeast Ohio? How do they perceive opportunities and issues confronting them in 2019? These and other questions are the focus of the 2019 Northeast Ohio Manufacturing Survey Report. Skoda Minotti will release full survey results soon.
Posted on Tuesday, March 5, 2019 by Callan Ganim
In this high-tech era, use of analytics is essential for increasing productivity and efficiency without sacrificing quality. Additionally, the new metrics can lead to better business practices and spur innovation. If you haven’t adapted to the latest changes in the industry, your company may be left behind.
Posted on Tuesday, February 12, 2019 by Victor Thornburg
It’s 2019: Is your manufacturing business complying with the new revenue recognition requirements issued by the Financial Accounting Standards Board (FASB)? It’s not too late to get organized, but don’t delay any longer.
Posted on Monday, January 7, 2019 by Michael Knight, CPA
Manufacturing businesses must be able to monitor and benchmark different areas of their organization to support their goals and measure the extent to which they are accomplishing them. Monitoring areas like inventory levels, cycle times and sales can help set your organization up for success.
Posted on Monday, October 22, 2018 by Randal Slifer
Performance metrics can be a powerful tool to assist you in monitoring the health of your business; yet, their usefulness can be impacted by the quality and integrity of the input data.
Posted on Tuesday, September 11, 2018 by Darren Kerr
If you run an inventory-based business, it’s critical that you have systems and processes in place to manage your inventory effectively. There’s one simple ratio that can help you evaluate the health of your inventory management—the inventory turnover ratio.
Posted on Tuesday, July 24, 2018 by Sam Eartly
The variables that determine how and when a product is shipped are almost as important as the product itself. However, manufacturers are busier than ever, and your company may find itself falling behind in the rapidly evolving logistics game. In this case, a third-party logistics (3PL) firm could be the right move for your business.
Posted on Thursday, July 19, 2018 by Victor Thornburg
Companies that have implemented digital processes and tools, or are in the process of doing so, stand to benefit in big ways. Those that have yet to embrace digitalization, meanwhile, are quickly falling behind.
Posted on Sunday, July 8, 2018 by David Mustin, MBA
Industry 4.0 builds on all previous industrial incarnations by employing new ways in which technology is embedded within products and processes. For manufacturing businesses with the infrastructure, resources and leadership necessary to implement Industry 4.0, the potential benefits are significant.
Posted on Monday, June 4, 2018 by Jon Shoop, CPA
Manufacturers are increasingly implementing augmented reality (AR) technology to improve their manufacturing processes. And for good reason–AR typically results in cost reductions, increased speed and fewer errors.