Challenging economic conditions and increasing global competition – along with shrinking profit margins and the rising cost of labor, transportation and facilities – make it tougher than ever for manufacturers and distributors to be highly profitable.
Whether you need advice on how to increase profitability, improve inventory control management or supply chain management, or deal with competitive pressures and labor trends, our Manufacturing & Distribution Group can help.
At Gross Mendelsohn we know your bottom line is just as important as your product lines. That’s why we work closely with manufacturers and distributors to identify and implement strategies to increase profitability.
Gross Mendelsohn helps manufacturers and distributors develop financial reporting and accounting approaches that provide the right information at the right time for smart decision making.
Specialized services just for manufacturers and distributors
In addition to the traditional financial statement audit that your bank might require, we can help identify and implement strategies to improve profitability through methods such as designing product costing systems, including the proper allocation of labor burden and factory overhead.
Thriving manufacturers and distributors manage their inventory well. When is the last time you evaluated your inventory control management? How do you decide what and how much inventory to order?
While selling your product is important, collecting on those sales is equally important. We’ll review your receivables, recommend collection strategies, and help you set up a credit policy for customers.
Keeping a sharp eye on overhead expenses can have a direct impact on your bottom line. A well thought out budget of overhead expenses will help you contain these expenses with timely statements comparing actual to budget. Gross Mendelsohn will help you develop the budget, design systems for the purpose of comparison and then help you identify ways to reduce your overhead expenses.
Tax planning for manufacturers and distributors
Effective tax planning offers manufacturers and distributors perhaps the greatest opportunity to save money and increase cash flow. We’ll help you implement tax planning strategies through methods such as cost segregation studies, inventory method selection, lease vs. purchase studies, multi-state income tax planning, transfer pricing, and business structure decisions. We’ll also help you recognize and take advantage of tax savings opportunities presented by various federal, state and local tax incentives, such as the research and development tax credit.
Technology consulting for manufacturers and distributors
Gross Mendelsohn’s Manufacturing & Distribution Group includes technology specialists – who are also CPAs – from the firm’s Technology Solutions Group. They know how technology can be used to increase manufacturers’ and distributors’ profitability and efficiency.
Our technology specialists can recommend the software that’s right for you, whether it’s Microsoft Dynamics GP, Sage MAS 90 or MAS 200, or Sage Accpac. They can install and provide training and ongoing support for your accounting system.
Beyond software, our technology specialists design and support networks, taking into account issues such as anti-spam, secure remote access and disaster planning.
Whether you are looking for help with succession planning, business valuation, mergers and acquisitions, benchmarking, budgeting and forecasting, strategic planning, internal control management, international transactions and taxation, machine utilization analysis or operational reviews, we can help. Likewise, we can help you develop incentive compensation strategies for key employees, as well as integrated personal financial planning, investment management, and estate and retirement planning.
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