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The manufacturing and distribution sector has historically been the backbone of the American economy. Businesses range from transportation equipment, computers, electronics, textiles, foods, chemicals, machinery, and metal products, to plastics and paper. The 300,000 companies in this sector produce annual sales of $4 trillion; however, the majority of firms are small businesses with annual sales under $1 million. In fact, just 6,000 companies have annual sales of over $50 million and the top 200 produce more than 40% of the total sales each year.
DB&B serves all kinds of manufacturing clients. No matter the size of the business or the products being produced, manufacturers face similar operational issues including labor relations, research and development, quality control, inventory, cost control, process and product improvement, and adherence to government regulations.
At DB&B, we believe that manufacturing and distribution companies need a highly proactive and informed accounting and financial management firm they can trust to maintain current, in-depth knowledge of trends, opportunities and threats, such as:
TRENDS:
• Consumer spending trends
• More automation, less labor
• Industry growth and decline
• Outsourcing materials and functions
• More service required for complicated products
• Manufacturing and marketing globalization
• Alliances, strategic investments
OPPORTUNITIES:
• Technological innovation
• Arbitration victory
• Exports
• Development of improved logistics
• Business-to-business internet developments
THREATS:
• Higher cost of goods
• Imports and international competition, especially from low cost countries
• Cyclical profits
• Government regulations
At DB&B, we focus on understanding exactly how each manufacturing client generates profits so that we can provide truly insightful advice to help clients tighten operations, collaborate more efficiently, meet competitive market conditions, and grow your business. This broad view has led us to develop a cross-functional Manufacturing Service team headed by a Partner who maintains contact year-round to bring clients high-level, innovative strategies for tax savings and business improvements. The Team also includes a cadre of tax specialists, to ensure that tax strategy is fully considered and that each engagement is seamless and minimally intrusive for clients’ internal accounting staff. DB&B involves clients fully during the financial statement review and fieldwork processes to expedite any decisions necessary to keep the process timely and on track.
In the event that an unusual or particularly challenging issue arises, DB&B’s affiliation with the PKF North American Network and PKF International allows our team to tap into a wealth of experience of other top tax practices. PKF is an association of 95 North American and 160 international independently owned accounting firms that seamlessly share training resources, best practices, information and expertise. DB&B routinely partners with other PKF firms to work on a variety of projects and accounts around the world. PKF allows DB&B to offer resources typically offered by national accounting firms – without their associated overhead costs and billing structures.
OUR SERVICES INCLUDE:
• Budgetary control & balance score controls
• Business coaching
• Cash flow forecast & projections
• Consulting
• Cost segregation
• Cycle counting
• Cycle time reductions
• E-business strategy
• Identification of state & local incentive programs
• International transactions and tax consequences
• Inventory management & controls
• Mergers & acquisitions for targeted and acquired companies
• Operations review & assessment
• Optimizing state & local taxation
• Process improvement & redesign
• Product cost analysis to maximize proficiency
• Real estate component depreciation
• Sales/Management/Customer Service Training Programs
• Strategic planning
• Taxation
• Tax incentives for companies with foreign sales
THOUGHT LEADERSHIP EMAILS
Dermody, Burke & Brown provides you with updates on your industry via emails covering current topics of interest to the manufacturing and distribution field designed to keep you apprised of all the accounting reformations and tax updates that effect manufacturers on a daily basis.
INDUSTRY SPECIFIC BENCHMARKING STUDIES
Through our relationship with several comprehensive private company industry data services, we can benchmark your business against others in the manufacturing industry providing you with the tools you will need to remain highly competitive in today’s global marketplace.
To learn more about DB&B’s Manufacturing Services Group, email info@dbbllc.com or call Bob Cherry, Kurt Ohliger or Jack Burke at 315.471.9171.
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