Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do.
There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Tuesday, 7 July 1970


a)  Reduce by 2 days the 6-day time lag in preparation of division coat reduction reports using an agreed upon follow-through system.
b)  Achieve an average age of accounts receivable not to exceed 25 days.
c)  Restrict bad debt losses to less than 3% of reporting non-defense sales.
d)  Improve margin by 15% with same revenues but reduced cost of 30%.
e)  Increase 15% the working cash required in each of three banks at the end of the year by holding inventory levels at 80% capacity.
f)   Complete training of three replacements for key positions in accounting section by next June.
g)  Complete study and construct index of expense trends for all departments for the past 5 years and project anticipated expense of future at annual intervals. Set 10% reduction targets from this projected expense trends.
h)  Collect ten suggested cost –reduction ideas per month from each of six operating managers.
i)   Complete write-up and acceptance of company cost-reduction manual and distribute to all members of management within 2 months.
j)   Install five suggestion boxes in five company locations to collect employee suggestions for cost reduction in their job procedures.
k)  Collect from six operating managers’ long distance telephone call analysis and recommendations for control of number, types, and cost of calls.
l)   Reduce dollar value of cost of returned material credits from an average of $20,000 per month in the preceding year to $15,000 per month in the coming year.
m)Reduce current debt to tangible net worth position to 35% for proposed creditor portfolio.
n)  Reduce fixed assets to a level not to exceed three-quarters of the tangible net worth in the next 2 years.

o)  Improve profits to payroll margin from 5% to 10% within the next four profit sharing quarters.

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