Globalization- a worldwide phenomenon impacting on socio-political, economic and technology aspects of the world, making manufacturing firms face fierce competition due to the presence of global products, hence creating the need to have contemporary management tools that assist in decision making. The goal of this research paper was to ascertain the extent of use of Strategic Management Accounting Techniques (SMATs) and how it can assist in reducing the competition scourge that create panic among local manufacturing firms. Using a sample of fifty manufacturing firms with senior management executives and accountants directly involved in running the organizations as respondents to how twelve selected SMATs are applied, and using questionnaires to gather primary data-Correlation Coefficients were calculated, mean, ranking and standard deviation were estimated to enable conclusions made. The first hypothesis after analysis showed co-efficient ranging from 0.156 to 0.530 indicating positive relationships among the various methods of SMATs and firms’ performance in a competitive environment while the second hypothesis confirmed the existence of challenges in the adoption and implementation of SMATs among manufacturing firms with use of simple statistical tools and z-statistics. The results indicated limited application of SMATs like the use of target costing, activity base costing, value chain costing and benchmarking among sampled firms. The findings of the study have implications for the firms’ managements as they revealed the partial application of SMATs depriving the firms the benefits of full usage. It recommended among other options that management should encourage personnel training and resolve institutional deficiencies that create impediments to SMATs implementation to forestall being swept away by globalization.