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Article and Newsletter Archives
Leading Lean Means Walking the Walk -- December 2007 Manufacturers who wish to adopt lean manufacturing principles must demonstrate to their employees the value of lean strategies. The road to excellence in lean manufacturing can be never-ending, but excelling in lean leadership can make it less bumpy. This article explores lean leadership actions.
Do You Know How to Price Your Products? -- December 2007 Like most businesses, manufacturers must make enough profit on their product sales to generate an adequate return on investment. The difference for manufacturers is that setting prices based on margin information may not adequately reflect production time. A high-margin product that moves through the plant slowly may actually be less profitable than a low-margin product produced in half the time. This article examines several ways to approach pricing.
How to Get Started Finding a Successor — and Why You Shouldn’t Wait -- December 2007 The owner of a manufacturing company must consider who eventually will succeed him or her. Be it his or her children or a qualified employee, the time will come to hand over the reins of the company to someone else. This short article explains the importance of succession planning.
Clean up your image: Building brand value -- September 2007
The ties that bind -- September 2007
An act of reconciliation -- September 2007
Should you attend trade shows?-- September 2007
Consider mixed-model scheduling Manufacturers that produce a variety of products with different specifications may struggle with how to schedule production. Multiple changeovers can result in multiple production gaps, which isn’t good for anyone. One option to consider is mixed-model scheduling. This article explains how mixed-model scheduling works.
10 principles every privacy policy should address -- June 2007 In the course of doing business, manufacturers collect a significant amount of information that they must protect. This can be a challenge in the best of circumstances; it can be especially daunting if they do business in more than one country. This article explores 10 principles a privacy policy should address.
Split-dollar life insurance can be a valuable planning tool -- June 2007 Business owners often use buy-sell agreements funded by life insurance policies to ensure an orderly transition of their companies to new owners. The problem is paying the premiums — especially if the designated successors are significantly younger and have significantly lower wages than the owner. This article details how split-dollar life insurance may be a solution.
Calm the stormy seas of manufacturing deductions with safe harbors -- June 2007 There are two safe harbors manufacturers can use to determine how much of their W-2 wages are allocable to their domestic production costs. One is the wage expense method; the other is the small business simplified overall method. This short article reviews both methods.
Tax law fluffs up the feathers in HSA nests -- June 2007 The Tax Relief and Health Care Act of 2006 (TRHCA) expands Health Savings Accounts (HSAs) for employees and allows business owners to make additional contributions on employees’ behalf. This article explains how TRHCA improves HSAs for employees and employers.
Modernize Your Accounting Department Pay Yourself a Dividend with Automated A/P Processes -- December 2006 Manufacturers continue to increase their technological capabilities and knowledge but many still rely on paper to complete accounts payable (A/P) tasks. This article explains how an automated A/P system can boost accuracy, eliminate delays in payment transmissions and reduce the potential for lost paperwork.
Are VEBAs a Viable Alternative Benefit Plan? -- December 2006 As the cost of providing employee health and life insurance benefits continues to skyrocket, many manufacturers are looking for alternatives to standard insurance coverage. Depending on a company’s circumstances, a Voluntary Employees Beneficiary Association (VEBA) may be one alternative worth considering. This article discusses the ins and outs of VEBAs.
MEP Network Gives Small Manufacturers Competitive Cachet -- December 2006 The Manufacturing Institute cites the manufacturing extension partnership (MEP) as a best practice for small and midsize manufacturers. A network of 350 nonprofit centers that serve the United States and Puerto Rico, MEPs provide guidance in areas ranging from process improvements to information technology applications. This article explores strategies for success using MEPs.
SOA May be Manufacturers’ Missing IT Link -- December 2006 Manufacturers often run into a seemingly insurmountable problem: how to integrate multiple existing applications with new programs so that everything runs smoothly and is readily available to everyone who needs it. The Internet may prove to be the missing link in the struggle for compatibility. Web service projects have demonstrated that it’s possible to create service-oriented architecture (SOA) that doesn’t care whether an application is local or remote, or even what language it uses. This article details SOA.
IRS Offers Green for Going Green -- December 2006 Under the terms of the Energy Policy Act of 2005, owners or leaseholders of commercial buildings can deduct the cost of any energy-efficient property they install in their buildings. This short article provides the specifics of the act.
Flex Your Manufacturing Muscle with Flexible Systems -- September 2006 Increased globalization has opened new markets for manufacturers, but it also has carried some new demands. Today, manufacturers likely are to be asked to produce a wider range of products with higher quality, lower costs and shorter lead times than ever before. Flexible manufacturing systems that can easily adapt to market fluctuations are the new darlings of the manufacturing industry. This article details the ins and outs of flexible systems.
Did You Miss Your Wake-up Call? -- September 2006 The 2006 tax clock is ticking It may seem impossible, but the clock for the 2006 tax year is ticking, and now is the time to plan year-end tax strategies. This article discusses several tax provisions that affect manufacturers.
A Sales Force to be Reckoned With -- September 2006 For a sales group to succeed, it must be the right size and in the right places. A sales group’s most critical resource is the time available for face-to-face sales calls. If a team is bogged down in administrative details or stymied by cost-reduction efforts, it may be time to take another look at how to make them more efficient. This short article explains how to better deploy a sales force.
Out of State Sales and Deliveries Taxes-- September 2006
Medical Device Tax Credit -- September 2006 Effective July 8, 2006, medical device companies can claim a tax credit against their Massachusetts' tax liability for 100 percent of the user fees that they pay to the U.S. Food and Drug administration during the taxable year for pre-market approval to market new technologies developed or manufactured in the Commonwealth.
Sales Tax for Out-of-State Deliveries under 830 CMR 64H.6.7 -- September 2006
Are erroneous ocean freight charges sinking your profit margin? - May 2006 Learning the terms of the trade can help you avoid obstacles Ocean freight charges can be complex. In fact, $50 million in incorrect ocean freight charges may be waiting to be reclaimed, according to Ocean Freight Refunds. To understand ocean freight charges, manufacturers must learn the terminology involved. This article explains commonly used ocean transport terms and the costs they include.
Go green to save more green - May 2006 Sustainable processes can attract global lenders and customers Can manufacturers be environmentally responsible and good businesspeople at the same time? A growing number of experts are responding with a qualified “yes.” But these same experts note that U.S. companies continue to lag behind countries in Europe, as well as Japan, in embracing eco-friendly processes. This article explores sustainable processes that can benefit the environment and the bottom line. Risk management requires a group effort, not a solo act - May 2006 Risk management isn’t a trivial undertaking. Manufacturers encounter numerous risks every day, from products being damaged in shipping to increased pressure for financial transparency and accuracy. Enterprise risk management encompasses all risk types, and includes strategies for mitigating each one. The key to effective risk management strategies is coordination and communication. This article details the role of employees and technology in risk management plans.
Creating a blog for dollars and sense - May 2006 Blogs cover virtually any topic imaginable. Keeping a blog can be a real boost for a manufacturer’s marketing and public relations efforts. A positive review on a well-regarded blog can heighten interest in a product. But there is a protocol. This short article examines the ins and outs of blogging.
Speed and accuracy count - May 2006 Use automation to boost efficiency and transparency In a world that demands ever-faster, mistake-free responses, it’s important that manufacturers use automation to improve their administrative processes and their operations. This article explores how technology, such as e-invoicing, can help the speed and accuracy of a manufacturer’s financial reporting.
Inventory accounting requires careful consideration Inventory may be the most costly operating item for any business that sells products. Thus, manufacturers make inventory control a top priority. Equally important to profitability, however, is inventory accounting. And it can be a challenge. This article examines the ins and outs of inventory management.
Systems Integration: There are No Quick Fixes -- March 2006 Manufacturers are under pressure to expand their technology to speed production, increase communication and enhance the bottom line. To be effective, such technology must be accurate, robust and reliable, but it also must be integrated. This article details the difficulties of integrating various computer systems.
7 Tips for Improving Collections -- March 2006 One of the most important and least enjoyable aspects of doing business is collecting accounts receivable. But manufacturers operate on tight cash-flow margins, so they can’t afford to become their customers’ bankers. This article provides seven suggestions to improve collections
Serving up a Better Health Care Plan - January 2006 FSAs offer employers and employees plenty to chew on
Today’s high health care costs have left workers and companies alike hungry for a better way to cover the former’s medical needs without hurting the latter’s profitability. One increasingly popular option that gives both parties plenty to chew on is the Flexible Spending Account (FSA), which can also provide dependent care benefits.
Devising a compensation strategy for your company
Without a good pay and benefits structure, you can’t attract and retain the best employees. But devising a compensation strategy is tougher than it looks — many factors go into paying competitively without breaking the bank. Here are some ways to get it right.
The federal Office of Management and Budget (OMB) is overseeing a review of 76 regulations that manufacturers, regulators, trade organizations and other interested parties say are hampering American manufacturers’ ability to compete. In many cases, reviews by the appropriate federal agencies are targeted for completion in mid- to late 2006 or beyond. Some, however, including the hours-of-service regulations for commercial driver,already are finished.
F&D's Top 5 Year End Tips -- November 2005
For Manufacturers, Success is Spelled R&D -- November 2005
Tax Incentive on Dividends from Foreign Subsidiaries -- November 2005
Making It All Add Up -- September 2005 When implementing lean manufacturing principles, don’t overlook accounting Lean manufacturing principles can streamline a manufacturer’s operations but how do they affect its accounting system? Most financial experts agree that standard accounting procedures can’t accurately indicate all of the improvements that a move to lean manufacturing brings about. This article explains why it’s important to eliminate waste in manufacturing and accounting processes.
Technology Removes the Kinks from your Supply Chain -- September 2005 Manufacturers understand how improving their supply chains can add value to their operational efficiency, but too many overlook what the supply chain can add to their level of customer service and time-to-market effectiveness. In the face of shorter product cycles, increased customer demands, ever-expanding supplier locations and the need to improve time-to-market speed, virtually all manufacturers must consider what technology can add to their supply chain operations. This article discusses what technology manufacturers are currently favoring.
Refund Opportunity for EU Customs Duty -- September 2005 Before the extraterritorial income exclusion (EIE) was repealed, European Union (EU) countries applied additional import duties to many products from the U.S. in retaliation against export tax breaks given to U.S. companies. Beginning March 1, 2004 , the EU imposed an additional 5% duty that increased 1% every month thereafter. In response to the U.S. repeal of its EIE legislation, the additional duty was suspended January 1, 2005 .
The Future of Manufacturing
Equals Smarter Factories -- March
2005
Activity-Based Costing Makes Accounting as Lean as the Plant -- January
2005
Manufacturer Newsletter Archive
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