Working Capital? Manufacturers Need to Work Their Plan
Manufacturers are being squeezed.
The cost of raw materials and labor are rising, inflation is climbing.
Is your operations team sharing the right data with management to keep pace with the tide? How is your working capital?
According to a Crowe Horwath LLP study, 82% of U.S. manufacturing and distribution companies believe optimizing working capital is “extremely important” or “very important” to their company’s success. But only 46% say they had implemented a working capital plan. Another 7% of respondents say they have no intention of creating a plan to improve their operating cash flow.
You are not alone. Many manufacturers find themselves in a challenging situation.
That’s why New Jersey Business Magazine asked us for our expertise. So did the Exit Strategy Exchange.
Providing vital insight, expertise and intelligence is how we help companies across various different verticals, including manufacturing. CFO Consulting Partners is comprised of a team of senior financial executives. We provide a broad range of financial management services to public and private companies. We work for CEOs, CFOs, as well as audit committees and boards. Our mission is to apply our consultants’ considerable collective experience to resolve client issues in a professional and efficient manner.
Our growing team includes former CFOs, controllers and auditors who understand where you are in the business cycle because they used to sit in a similar seat.
When members of the media asked us to help manufacturers, we asked team members Gary Cardamone and Jeffrey Appleman to share their insight. Gary has more than 30 years of experience in the private sector in manufacturing and engineering services. Jeffrey has more than 30 years of experience in public accounting and the private sector with expertise in restructuring and M&A.
Whether you are looking for expertise on how to find better cash flow and margins or how to be better prepared to maximize your company’s value, we are ready to help.