Directed a successful turnaround of a telecommunications manufacturer from $4.5M loss to $2M and $2.8M profit in the following 2 years
The Company: A public telecommunications manufacturer and distributor
The Issue: Successive years of operational losses
The Work:
- Reviewed product line and eliminated losing products
- Reduced COGS by $2.5M over 18 months through negotiations with offshore and domestic suppliers
- Restructured Accounting Dept. and accelerated the monthly closing from 17 days to 5 days
- Implemented new reporting system, improving efficiency and created insightful management reports
