The Exuberant Accountant - Scott Heintzelman

Pennsylvania, in general and central Pennsylvania, in particular has a very strong manufacturing base. As such, I am very proud that our firm is hosting the first of its kind Manufacturers Summit for this region. This is a joint event with MANTEC (manufacturing resource organization), and the Harrisburg Regional Chamber and CREDC on June 9, 2011.

There will be plenty of discussion centered on current issues impacting manufacturers. Some of the key topics we will cover are:

• Tax credits for manufacturers and a general tax update.
• Business Valuation – How value is determined and items that impact value (i.e. LEAN).
• State Update from a local Representative.
• Discussion on the six next generation manufacturing strategies.

This summit will be held on Thursday, June 9, 2011 at the Radisson Penn Harris in Camp Hill. The event will be in the afternoon and include a networking mixer afterwards. If you would like to register or desire more details, please feel free to contact me.

Lean manufacturing is a term that has gained great exposure during the last 10 years. If you know about Lean, you’ve probably heard about reducing waste of all kinds on factory floors through improved processing efficiencies. What you may not know is that Lean philosophy can be applied to other parts of your operations as well as Supply Chain Management.

A Supply Chain review is a great opportunity to dispose of waste and make processes more efficient. Even if you have a “Leaned Out” factory floor, the Supply Chain provides numerous opportunities for improvement.

In the second McKonomics Podcast, I interview John Lloyd, President and CEO of MANTEC who discusses why the manufacturing sector plays such a big part in our economy and get some tips on what best practices manufacturers can implement to improve performance.  Click here to learn more about Manufacturing Sales by Creating Uncontested Market Space.

The McKonomics Podcast Series will continue in coming weeks with an in-depth look at the Construction industry. Stay tuned as I plan to interview other experts in the fields that impact our economy the most.

I work with numerous manufacturing and distribution companies and several of them use LIFO (last in first out) to value inventory.  President Obama's 2010 Budget lists the repeal of LIFO starting in 2012 as a possible source of funding to finance his proposed universal health care legislation.

Recently the LIFO Coalition members met with members of the Senate Finance Committee and/or their aides and they have expressed the possibility of the repeal of LIFO to be very real.

A common theme I continue to hear from the business community is “we need to do more with less.”  Everyone is looking for an advantage or an edge in business.  Recently I wrote about Lean Manufacturing and Supply Chain Management and received an outstanding response. Our firm, McKonly & Asbury, is partnering with Dr. Robert O. Neidigh from the Department of Finance & Supply Chain Management at The John L. Grove College of Business of Shippensburg University.  Dr. Neidigh is helping us and our clients learn more about maximizing operational performance. Together, we have developed a process/questionnaire in an effort to assess an organization’s health as it relates to:

A lot of the family-owned businesses I work with are manufacturers or distributors.  Whether they make corrugated boxes or custom cabinets, the issues they face are very similar. 

As customers become more demanding, there is increasing pressure on smaller manufacturers to provide greater quality, flexibility, access and value – while lowering costs. In many industries, suppliers are routinely asked to establish a “factory within a factory” – i.e. to supply parts and manage material handling and inventory for their customers. This is a “best practice” adopted from the snack food industry, in which “rack jobbers” have restocked shelves at supermarkets and convenience stores for decades.