Franke’s Wood Products, Inc
- Boost Profitability, Team Performance, & Accountability
- Improve Reporting & Forecasting
- Anticipate a Bottom-Line Benefit of $2.9MM over Three Years
Bill Franke’s Experience Working With American Management Services:
On behalf of the Franke family and our Senior Management team, I want to commend the work and efforts provided by your organization to Franke’s Wood Products, Inc. over the course of the last seven months, particularly the work of your senior consultant Bob Hawkens.
Bob has been a blessing and a pleasure to work with. His expertise, wisdom and knowledge have been invaluable throughout this process. We will miss his weekly presence in our management meetings.
We feel like Bob has become part of the family here and he will be missed!
With the help of American Management Services, our business has been transformed over the past seven months. The results have far exceeded our expectations.
We have put in place key tools and processes to increase profitability, team performance and establish employee accountability. With the results that we are seeing and the complete implementation of all the tools we have put in place, we have the confidence to grow our business with increased profitability. Here are some of the critical items that we have implemented:
- Weekly flash reports were started to monitor key operating metrics and department activity, allowing us to manage progress toward our targets.
- An eight-week cash forecasting process to plan and manage cash has been instrumental in planning my business cash flow.
- We completed a thorough review of the labor rates, overtime application, and overhead rate for the pricing of our products, improving profitability.
- We redefined and implemented new key performance indicators to drive performance and productivity in our company.
- We implemented a predetermined profit plan with a clear focus on margin, expense, and bottom-line profit.
- We implemented a Monthly budget and variance analysis to keep tight control on our finances.
- We established well-defined meeting structures and agendas to communicate with the senior management team.
In summary, we expect our work on this project to benefit our bottom line by more than $2.9 million over the next three years. Our expectations have been met effectively and professionally. Please extend our gratitude and appreciation to everyone within the American Management Services family.
- Bill Franke, President
- Franke's Wood Products LLC
- (937) 642-0706
-
825 Collins Ave
Marysville, OH 43040
