Make/buy decisions often rely on analysis that is deeply flawed.The accounting numbers look like you'd be more profitable outsourcing it, but often the opposite is true.It's a big topic, but I'll try to give a 2.5 minute introduction.How do you analyze make/buy...
You spent years investing time and energy in growing your business. Like raising your children, the process had its ups and downs, its moments of joy and sadness, its triumphs and failures. And, like raising your children, you’ve reached a point where the business is...
Many manufacturing executives consider their annual audit to be a process that adds little value and distracts from management’s priorities. However, despite time-consuming procedures that are part of every audit due to regulatory and professional standards, a good...
When thinking about succession planning, most business owners think they only have two options – they can either sell their business outright or continue to own and manage the business. There’s a third option that isn’t widely known but can be a great solution too: a...
The situation A few weeks ago, a quote request arrived for a new product. It had high volumes, and it was an excellent fit for your facility. You ran it through your estimating program, submitted your price, and then you got the dreaded call. The buyer told you,...
It’s mid-October, and as I write this I’ve had an item on my to-do list for a month that says “Update 4th quarter plan”, and another that says, “Prepare 2021 plan”. My brain tells me that I should do it, but I always seem to find something else that is supposedly...