Asset protection as a basic concept is very simple to understand. It is the protection of anything you value. Asset protection means putting together a plan that allows you to retain substantial control over your assets while limiting the effect of outside influences and poor judgments upon those assets.
What you should expect...
Asset protection involves examining a businesses position and then determining and recommending a series of programs to protect its assets.Following the approval of these recommendations, a process of implementation will begin which will involve multiple departments. Each process for each department will be put into place and monitored to ensure that all systems are working as intended.
Because well-structured plans usually take away some form of control, complexity is introduced by the very fact that this process deals with various management teams and operational systems in a multitude of different ways. It is highly recommended that anyone embarking upon an asset protection strategy does so with the expectation that full support by management teams is needed and that time and patience is necessary to achieve all goals. Those who understand what can be realistically achieved will reap the biggest rewards.
- - Analyze current invoices, purchases, prices, specifications, deliveries and suppliers
- - Review internal product specifications (desired and actual)
- - Analyze vendor and client purchases on continuing basis
- - Monitor prices and usage as commodity markets and menus change
- - Audit supplier pricing and recover overcharges
- - Identify high-quality, cost-effective standards for product specifications
- - Negotiate preferential pricing.
- - Determine that recipes are written concisely and produce desired results (quality & yield).
- - Review recipes, menus and sales mixes ensuring revenues match product purchased.
- - Identify opportunities for further cost reductions and revenue enhancement
We can't show you one way to save a million, but we can show you a million ways to save one...