We take pride in our seamless process and exceptional services designed to elevate your business to new heights. Our proven methodology is the backbone of our success, ensuring that each client’s unique needs are met with precision and ingenuity. Step into a world of innovation as our experienced team collaborates closely with you to understand your goals and challenges, crafting tailored strategies that unlock your business’s true potential. From ideation to implementation, we leave no detail unchecked, guaranteeing that our services encompass every aspect of your journey to success. Embrace a partnership built on trust, dedication, and a shared commitment to excellence. Discover the power of EFM Consulting today and witness firsthand the transformative impact of our process and services.
Our Two-tier Process
Phase I – Needs Analysis. – Perform a Needs Analysis to determine status of cost accounting and shop floor reporting. The Needs Analysis includes a proposed Implementation.
Phase II – Implementation. – Develop and implement improved cost accounting metrics, enhanced shop floor reporting procedures and/or document production procedures based on Needs Analysis.
Top Six Tasks Performed in Phase II
1. Basic tune-up of existing cost accounting
2. Major tune-up of existing estimating protocol
3. Overhaul existing cost accounting
4. Enhance daily shop floor reporting
5. Manufacturing/shop floor software procedure documentation
6. Develop and Implement an Economic Value Added (EVA)™ model
Typical Considerations for Improving Cost Accounting Metrics
- Chart of Accounts
- Realized yield measurement
- Overhead expense categorization
- Overhead rate allocation design
- Cost of sales determination
- Cost of manufacturing determination
- RM, WIP & FGDS inventory valuation
- Indirect expenses identification & measurement
- Identification, tracking & measurement of Direct Labor (DL)
- Identification, tracking & measurement of Direct Material (DM)
Typical Questions for Enhancing Shop Floor Reporting
- Who sets operator targets?
- How are production operator targets set?
- Current status of operator reporting?
- Production operation documentation?
- Inventory levels and capacity?
- Is there an accurate daily scrap report?
- Daily operator efficiency reporting?
- Optimum level for operator reporting detail?
- Management intervention feedback loop status?
Shop Floor Software Procedure Documentation Elements & Issues
- Status of daily transactions in & out of software system
- Level of computer literacy & system training among employees
- Status of software use for RM, WIP & FGDS inventory valuation
- Status & usage of RFQ forms, formats, sophistication, documentation
- Identification/documentation of when/who does which critical task