CFO’s in 2018
We are all well aware that business keeps changing …and changing more rapidly than it has in the past. And by changing we are talking about everything including every procedure and strategy that has been a constant for the last 20 years. I believe they call it disruption. And all of you have seen or felt disruption which supplied both pleasant and not so pleasant results. The disruption in the material handling business...
Round two
Last month I attempted to provide an industry specific review of the “NEW” tax reform bill. As it turned out the final version did not appear as expected and consequently I had to ask my equipment tax guy, Steve Pierson, to assist with his best guesses of what will appear in the bill. His Power-Point presentation outlining his best guess was available for review on the MHW website. And you will never guess what happened...
Name your top three challenges for 2018
Before we get into a discussion about 2018 ….I have to say that the November issue of Material Handling Wholesaler was one to the TOP THREE since I have been involved with this publication. The cover story about warehouse technology driving costs down, Dave Baiocchi’s discussion of how procedures can lead to greater efficiency, and the columns covering a “manager checklist”…“how people do...
Welcome aboard
No, not a typo. I am not welcoming you aboard my seagoing vessel. I am suggesting a method to improve your operations, better plan for the future and a way to prepare for your transition out of the business. And again, this is one of my “Don’t spend a lot but get a LOT” strategies. Based on my experience every privately owned business could use an outside board to oversee business operations, review financial metrics...
Spend a little – make a lot
There is little doubt that to be successful in the future every dealer on the planet will have to upgrade their operations to include (1) digital systems that apply to all aspects of the business (2) robotics which are sure to become part of every business (3) adopt IoT with the various new products and applications offered, and (4) supply the training to make all of this work to generate a satisfactory ROI on your investment in your...
Changes coming to your rental business
The staff of MHW informed me that the topic of the month is “Rental and Leasing.” A topic subject to MANY changes in the near future. Right now I am thinking about where to start, but start I must so here we go. These comments do not appear in any particular order. Each management team will need to prioritize them as they see fit. Tax changes They will be upon us before the end of the year. If we are lucky they will revert...
Educated staff = more $$
If I had to bet on the title of this column I suspect I would win at least 90% of the time. What do you think? Why do I suggest that spending more time and dollars on training and education will generate more dollars to either the top line or bottom line or both? It is because: 70% of employers trying to fill open positions say they cannot find qualified candidates. Compared to other major economies the US only spends 20% of what they...
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