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Manufacturing Minute
Join us monthly for Manufacturing Minute, the essential podcast for finance professionals navigating the unique challenges of the manufacturing industry. In 15-30 minute episodes, we break down the financial strategies and industry trends that matter most to those managing the money behind production, providing practical insights you can apply immediately.
All Episodes
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Beyond the Numbers: Finding Hidden Savings in Your Operating Costs
Your financial statements can show that margins are shrinking, costs are rising, and cash flow is tightening, but they don’t always explain why or what to do next. In this episode of the Manufacturing Minute, host Megan Meador, audit and assurance partner and manufacturing and distribution practice leader at Brown Edwards, talks with Dan O’Connor, consulting partner with the ERA Group, about what’s happening operationally beneath those numbers. Dan explains the 80/20 rule of operating expenses and why “tail spend” often goes overlooked. This 20% of spend is spread across most of a company’s suppliers, in categories like freight, packaging, insurance, technology, and telecom. He and Megan discuss the cost of “set it and forget it” vendor contracts and how benchmarking against other organizations reveals whether a company is paying what it should. They also cover ERA Group’s data-driven approach, which starts with 12 months of accounts payable data, and why companies should review supplier relationships before cutting headcount. Dan closes with three questions every manufacturer facing margin pressure should ask, and explains how to find savings without sacrificing quality or service.The Silver Tsunami: What Manufacturers Need to Know Before Selling Their Business
In this episode of Manufacturing Minute, I sit down with Jeannie and Mike Keene from Sunbelt Business Brokers to explore the critical insights manufacturers must consider before selling their businesses. We delve into the "silver tsunami," the wave of baby boomer retirements leading to significant market changes, and the vital importance of having a strong advisory team in place. Jeannie and Mike share their extensive experience in mergers and acquisitions, highlighting the emotional complexities of the sales process and the necessity of proper business valuation and preparation. Join us as we discuss strategies for enhancing business value and ensuring a smooth transition for both sellers and buyers in the evolving manufacturing landscape.Business Interruption Insurance for Manufacturers: What CFOs Need to Know
On this episode of The Manufacturing Minute, host Megan Meador (Audit & Assurance Partner and Manufacturing & Distribution Practice Leader at Brown Edwards) sits down with John Pendleton, Vice President and Property & Casualty insurance expert at Scott Insurance, to unpack business interruption coverage for manufacturers. John explains what triggers business interruption claims — from fires and tornadoes to cyberattacks and ransomware — and breaks down the three main things this coverage can subsidize: lost net income, payroll, and extra expenses. He walks through how manufacturers should calculate the right coverage limits using a business income worksheet (and why it should be revisited annually, not every few years), and shares practical steps for building a disaster recovery plan, including assembling a crisis management team, mapping supplier and equipment lead times, and organizing documentation before disaster strikes. John also shares a real-world story of guiding a manufacturing client through a $3 million claim after a direct tornado hit, offering listeners a candid look at what recovery really looks like when the unexpected happens.Cash Flow Is King: Navigating State and Local Tax in Manufacturing
In this episode of the Manufacturing Minute, host Megan Meador sits down with Rich Hedley, state and local tax leader at Brown Edwards, to unpack why SALT matters so much for manufacturers' cash flow and operations. Rich breaks down Nexus, both physical and economic, explaining how everything from out-of-state inventory to a one-day trade show appearance can create filing obligations. The conversation covers what to do once Nexus is established, how apportionment works, and the special single sales factor opportunity available to certain Virginia manufacturers. Megan and Rich also dig into common sales and use tax pitfalls, manufacturing exemptions for machinery and equipment, and often-overlooked property tax savings like scrubbing fixed asset listings and appealing assessments. Rich closes with a real success story: how a voluntary disclosure agreement saved a client over $90,000 in penalties after fifteen years of unfiled North Carolina returns. Whether you're shipping into multiple states or just want to protect your bottom line, this episode is full of practical insight.