Process: AR – It is 11:00 PM. Do you know where you cash is?
Cash flow is king. Is your bank account reconciled? WHY NOT! There is a SIGNIFICANT amount of employee fraud, especially at small to medium sized
Process: Inventory – ABC, 123
With apologies to the Jackson 5. Are you counting your inventory monthly or annually? STOP IT NOW. Cycle count or don't count at all. Utilize ABC methods and
Process: Inventory – Move it to Lose It
Same goes for old inventory. Move it or lose (value) it! If your company always executes perfectly and engineering changes are approved then implemented
Process: Inventory – Spare Me
No it's not bowling time. Do you have inventory of critical spares? Why not check inventory of them today rather than cram it into the month end process?
© 2014 All rights reserved. Paul Malen