Succession Planning: Have You Started

You have spent your entire professional life owning and leading your family business. You are the founder or next-generation family member running the business and you are now approaching retirement age. To retire you will need to transfer your leadership responsibilities to a next generation family member and potentially some, or all, of your [...]

Do You Know Your Numbers?

“So, what are you going to ship this month?” “Um, I don't know. Probably what we shipped last month.” “Was last month a good shipping month for you?” “I guess so.” This unfortunately is a typical exchange when speaking to owners or executives of many small to mid-sized companies who do not know their numbers! [...]

The Pandemic Economy

Most would probably agree the first two months of 2020 were economically strong. But then as the country began to address the COVID-19 pandemic in March, state-mandated shutdowns across the country severely impacted many industries including most, if not all, foundries. Nonessential businesses were forced to close, and the unemployment rate went from 3.5%, a [...]

Are You Maintaining Prices And Margins Relative To Costs?

Let's face it. Foundries are driven by strong margins. Are your margins acceptable? Or are your margins and return on sales (net income as a percentage of net sales) lower than you would like them to be? Or have you experienced a negative return due to net losses recently? In these cases, you most likely [...]