Management consulting is the practice of helping organizations to improve their performance, primarily through the analysis of existing organizational problems and development of plans for improvement.
Organizations may draw upon our services for a number of reasons, including gaining external (and presumably objective) advice and access to the consultants' specialized expertise.
As a result of our exposure to and relationships with numerous organizations, consulting firms like us are also said to be aware of industry "best practices", although the transferability of such practices from one organization to another may be limited by the specific nature of situation under consideration.
Essentially our scope of work could cover:
- Standardization of work processes to cut costs and improve efficiency
- Critical review of or setting up accounting systems and internal controls
- Preparation of manuals
- Assessing operating effectiveness, emphasizing concept of profit center, determining pricing, laying down business growth objectives, budgets, ensuring optimum and efficient utilization of all resources viz., cash, stock, manpower, fixed assets, etc
- Critical review of business tie-ups and arrangements
- Fixed Assets Management - Prepare proper records showing full particulars including quantitative details and location of all fixed assets. Carryout physical verification of fixed assets once in 3 years or earlier as per a documented program. Prepare the standard documentation.
- Working Capital management
- Inventory management - Carry out perpetual inventory verification once in 3-4 months as per documented procedures. Prepare the standard documentation
- Sales, Marketing and Advertising Management
- Purchase and Stores Management
- Production Management
- Receivables Management
- Cash Management
- Payables Management
- Developing organizational hierarchy with related authority and responsibility
- Review of the structure of the Board of Directors, their powers and responsibility