Is an Opportunity Zone Play Right for Your Growing Manufacturing Business?

The opportunity zone incentive created by the 2017 tax law has generated a lot of interest in the business community. The tax benefits can be significant for investors who follow the process detailed in the statute, but owners who want to use the incentive to grow a manufacturing business need to understand that it takes [...]

2019-09-30T19:36:29-04:00September 24th, 2019|MANUFACTURING & DISTRIBUTION|

How South Dakota v. Wayfair Affects Manufacturing and Distribution Companies

It’s been almost a year now since the Supreme Court’s South Dakota v. Wayfair decision affirmed the state’s law regarding the taxation of out-of-state sellers. There’s been a lot written in that time about how retailers need to better track sales and compliance with similar laws in an increasing number of states throughout the U.S. [...]

Manufacturing Product Costing

Manufacturers should have a firm grasp on how much it costs to produce their products. This knowledge ensures that they can control expenses, account for future production needs, isolate inefficiencies, set appropriate prices on produced merchandise, and improve profit margins. Understanding production costs also allows a company to respond more effectively to changes in the [...]

2019-06-13T10:39:16-04:00May 9th, 2019|MANUFACTURING & DISTRIBUTION|

How Predictive Maintenance Helps Manufacturers Prevent Production Delays

The breakdown of a major piece of manufacturing equipment triggers a domino effect of halted production. This unexpected shutdown usually results in costly last-minute repairs, late or canceled orders, and angry customers. Manufacturers who conduct predictive maintenance on machines and equipment can reduce the risk of an unexpected breakdown. Understanding Predictive Maintenance A manufacturer can [...]

2019-06-13T13:10:08-04:00May 7th, 2019|MANUFACTURING & DISTRIBUTION|

Improve Manufacturing Company Profitability

While a strengthening economy has provided a much improved operating environment for manufacturing companies, strong management teams should constantly be focused on improving margins. Here are four steps a company can take to increase margins and improve its profitability. 1. Begin evaluating the manufacturing company's pricing strategy for those products and/or services with the lowest [...]

2019-06-13T13:37:06-04:00February 9th, 2019|MANUFACTURING & DISTRIBUTION|

How Manufacturers Should Account for Excess Capacity

Just as consumers have to abide by the load capacity of their washers and dryers, manufacturers should set up their businesses to handle certain production capacities. Based on past and projected future sales levels, they invest in machines, buildings, materials, and laborers to meet anticipated needs. In spite of these investments, a manufacturer sometimes experiences [...]

2019-06-13T12:05:26-04:00February 5th, 2019|MANUFACTURING & DISTRIBUTION|

3 Questions for Easing the Seesaw of a Seasonal Product Cycle

Manufacturing and distribution companies that handle seasonal merchandise know that correctly managing supply and demand can be the difference between having a warehouse with minimal inventory (which is ideal) and carrying the burden of leftover inventory (the result of poor planning) after peak season. Accurately forecasting the demand for seasonal merchandise is difficult because of [...]

2019-06-12T15:08:16-04:00February 3rd, 2019|MANUFACTURING & DISTRIBUTION|

A Look at Internal Controls and Processes for Evaluating Vendors

Manufacturing and distribution companies should appraise vendors through various lenses since they are such an integral part of the company’s success. Given all of the discussion related to the increase in fraudulent activities, it is a good idea for businesses to incorporate an evaluation of internal control processes for accounts payable and vendors. Here are [...]

2019-06-12T16:51:41-04:00January 12th, 2019|MANUFACTURING & DISTRIBUTION|

Back to Basics: Inventory Control and Generating Cash

Excess inventory can reduce cash reserves (typically used to cover unexpected expenses during uncertain economic periods) and create a strain on a manufacturing or distribution company’s ability to pay unanticipated expenses. Therefore, tough times require companies to get back to the basics of controlling inventory to generate cash. While inventory turnover declines when a company's [...]

2019-06-13T09:19:57-04:00November 8th, 2018|MANUFACTURING & DISTRIBUTION|

Avoid Surprises With The Super Overhead Allocation By Understanding UNICAP Rules

Understanding the IRS’ uniform capitalization (UNICAP) rules is critical for manufacturers that produce real or tangible personal property (or acquire these types of property for resale). Otherwise, they could be surprised by an IRS audit. Watch as Juan Torres provides an overview of the regulations and explains what companies should do if they [...]

2018-11-12T15:46:12-04:00January 31st, 2017|MANUFACTURING & DISTRIBUTION, VIDEO|

5 Overlooked Tax Breaks For Contractors And Manufacturers

While some tax incentives seem to be common knowledge, others often go nearly unnoticed. Watch as CRI's Dawn Steed describes overlooked deductions that contractors and manufacturers can use to their advantage.

Backup Suppliers Are the Link to a Strong Supply Chain

Manufacturers rely on a supply chain to provide the raw materials required for production. If a supplier doesn’t deliver materials as promised, then production could be delayed or halted. Manufacturers can guard against supply shortages by creating agreements in advance with backup suppliers. Reinforcing the Chain with Backup Suppliers By having a contract already negotiated and [...]

2018-11-12T15:49:29-04:00February 3rd, 2016|MANUFACTURING & DISTRIBUTION|

Protecting Supplier Networks and Managing Inventory

Supplier relationships are one of the most vital components of manufacturing. Lack of raw materials can severely affect the manufacturing process and lead to delayed production schedules and ultimately cancelled orders. Watch as Kelly Bollinger and Elton Sims discuss the importance of building and maintaining strong supplier networks in the manufacturing sector while [...]

2018-11-12T15:49:33-04:00February 2nd, 2016|MANUFACTURING & DISTRIBUTION, VIDEO|

Auditing Manufacturing Inventory

Performing an accurate manufacturing inventory audit is not as simple as it may seem. How do you measure liquid? How do you inventory livestock? CRI's manufacturing CPAs have expertise in wide array of inventory audits for manufacturers of all types and sizes. Watch Bruce Nunnally and Brian Barksdale discuss what to consider for [...]

2018-11-12T15:50:05-04:00January 20th, 2016|MANUFACTURING & DISTRIBUTION, VIDEO|

Manufacturing Technology Solutions Can Address Challenges

The manufacturing and distribution sector accounts for 12% of gross domestic product (GDP). Manufacturing technology solutions can address challenges including inventory management, overseas competition, and financing. Watch as Brian Barksdale and Elton Sims discuss the current challenges of the manufacturing and distribution industry - and ways advanced technology can provide potential solutions. [...]

2018-11-12T15:50:14-04:00January 11th, 2016|MANUFACTURING & DISTRIBUTION, VIDEO|

Manufacturing Capital Expenditure Risk Assessments

Manufacturers must continually assess the technologies used in the production process to maximize profitability. If a technology is in danger of obsolescence, then the entire manufacturing process is at risk. Watch Tom Carmichael discuss the importance of ongoing capital expenditure risk assessments - and why manufacturers shouldn't let technology dinosaurs take a bite [...]

2018-11-12T15:50:38-04:00December 13th, 2015|MANUFACTURING & DISTRIBUTION, VIDEO|

You’re Hired: Recruiting Manufacturing Skilled Labor

Manufacturing skilled labor is as essential to the process as raw materials. Statistics show that the manufacturing workforce is aging, so manufacturers need to implement a plan to recruit and retain skilled labor. Watch Kelly Bollinger outline several ways to build a worker-friendly environment that helps attract and retain manufacturing employees. [...]

2018-11-12T15:52:26-04:00January 10th, 2015|MANUFACTURING & DISTRIBUTION, VIDEO|

How to Manage Supplier Costs and Keep Your Business Balanced

Manufacturing and distribution companies often have to dance with suppliers. As raw material and transportation costs continue to climb, many distributors are encountering price increases from their suppliers. Waiting for prices to stabilize is not an option for businesses feeling the squeeze of these increases. Before deciding to find a new supplier, consider the following [...]

2018-12-10T16:15:33-04:00May 9th, 2014|MANUFACTURING & DISTRIBUTION|

Manufacturing Inventory Accuracy Counts

Sophisticated inventory management software is designed to minimize the risks of tallying inaccurate quantities, but that risk reduction may not happen if the system does not enable manufacturing inventory accuracy. Incorrect inventory quantities can lead to delays in order fulfillment and upset customers. If the data do not match the physical inventory in the warehouse, [...]

2018-11-12T15:54:15-04:00February 7th, 2014|MANUFACTURING & DISTRIBUTION|