Are you taking maximum advantage of your working capital? In the process of achieving maximum profit, some operational savings can be neglected. So what should you consider in order to make your money work most effectively for your company?
Take a look at the complete chain, from the most efficient design of your product to the optimum manufacturing process. Then analyze the sales and sales support process. Are all your processes streamlined and simple, and do they eliminate waste?
In a recent document for QFinance, Patrick Buchmann, Managing Director at Thyssen Krupp, and Udo Jung, Sr. Partner at Boston Consulting Group, examine techniques for optimizing inventories, receivables, and payables. They reference how to manage the operational components of net working capital. The best practice document gives an in depth explanation and also covers the following areas: