Measuring change at Conair-Franklin

Article Abstract:

The Conair Group's Franklin, PA, plant has successfully reduced overhead, increased profitability and improved the efficiency of the collection process by simplifying procedures and focusing on customer satisfaction. Critical to this success was the plant's overhaul of its financial reporting system. Management realized that existing financial measures were not generating the kind of information needed to assess performance regarding the plant's six objectives. These goals are timely shipment of parts, timely delivery of equipment customers, production of the required volume of shipments, increased inventory turns, improved productivity and realization of growth targets. Management changed the way it measured productivity, inventory, the performance of suppliers and the performance of the sales force. The results of and the lessons offered by Conair-Franklin's efforts are discussed.

Plastics Products Equipment, Plastics and Rubber Industry Machinery Manufacturing, Special industry machinery, not elsewhere classified, Machinery industry, Plastics industry, Plastics machinery, Accounting and auditing, Organizational change, Conair Group Inc.

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How Harsco integrates financial & operational auditing

Article Abstract:

The Harsco Corp auditing department combines financial and operational audits to get a clearer picture of the company's overall condition. Harsco Corp manufactures building products and industrial services. Audits fall into five major groups: internal control audits, acquisitions and divestitures, annual audits of divisions, government contract audits, and audits of funds not accounted for as company audits. Before any audit is conducted at Harsco, audit plans must be approved by the director of auditing. The reporting process begins after the audit is completed.

Methods, Finance, Auditing, Harsco Corp., HSC

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