The automotive industry is one of the most dynamic industries. The industry is changing so rapidly that you need a dedicated automotive advisory team to provide you with sound professional advice. Our team is focused on financial, operational, and supply chain issues facing the industry.
Besides our traditional attest and tax service offering, our professionals have significant specialized expertise in business restructuring, financing, costing, transaction services, and operational improvement. Nationally, our firm represents over 250 automotive suppliers.
Some of the industry sub-segments that we serve include:
- Plastic part suppliers
- Metal part suppliers
- Tool & die
- Machine builders
Challenges facing the industry:
- Supply chain risk mitigation
- Cost control & pricing
- Unstable commodity prices
- Rising employee benefits
Strategies for success:
- Financial strength–Focus on liquidity and strengthening of the balance sheet. Implement daily and weekly cash flow reporting.
- Operational improvement–Improving efficiencies throughout the production process with daily, weekly and monthly operating metrics.
- Cost control & pricing–Focus on individual product and customer profitability by preparing product line profit and costs analysis.
- Positioning for long term success–With continued consolidation risk, companies need to maximize their leverage on fixed costs. Efforts to increase revenues through mergers and acquisitions may provide the added incremental business for long term success.
Please contact us
to learn more about how your company can benefit from these strategies and more.
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