As a company owner, you probably spend a lot of time managing the various risks within your company. You do it by looking at price levels, reviewing fixed costs, and understanding current market changes. But, by focusing on the methods you’ve always followed, you might not get a true...
Manufacturing Day was established six years ago, in part to help manufacturers showcase their organizations as economic drivers of the future to a new generation of workers – millennials! This year, Manufacturing Day will be celebrated across the country on or around October 7th. It was initially founded by...
Is Next-Shoring Your Next Move? The one constant in life is change, and the manufacturing industry is changing like never before. One of the most important decisions a manufacturer has to make is where to produce their product. Cost is usually the driving factor when determining which location is...
Maryland has a strategic location in the mid-Atlantic, in one of the nation’s busiest corridors. Approximately one-third of the US population lives within a day’s drive, and the state offers many advantages for businesses. It has a deep port, rail lines, major highways, and a highly educated workforce. Maryland...
MKS&H’s expertise in the manufacturing and distribution field allows us to help clients overcome some of their largest hurdles. The top question stemming from a highly competitive global marketplace in the manufacturing industry is, “What strategies can I employ to help me cut costs in the production cycle?” The...
With the new provision enacted in the PATH Act of 2015 (which addressed tax extender provisions that had expired in the past year), the Research & Development (R&D) tax became more of an option for small businesses in the process of developing a new product or service. This expansion...
The manufacturing landscape is ever-evolving. And so is the role of accountants. Unfortunately, colleges and educational institutions are not keeping pace, and although the majority of degreed accountants work in private businesses, they are often woefully underprepared.
Improving plant performance is an effort that includes both growing revenues and cutting costs. Almost half of manufacturing executives are focused on demand forecasting and inventory management, which are two sides of the same coin, according to a study by Gatepoint and IBM, “Five key factors in optimizing complex...
One of the largest assets for a manufacturer is its inventory. Regardless of how lean you’re able to keep your warehouse, you will likely have to deal with obsolete inventory at some point. So how do you account for obsolete inventory? There are different rules that need to be...
Have you ever found your company in a position where you have too much of one inventory item and not enough of another? Or found your company in a position where you could not fill a parts or sale request? Or had to halt your company’s production due to...
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