This article is written by OTB Solutions.

My clients are experiencing both prosperity and uncertainty. Many clients are having record-breaking sales and profits this year. Often the challenge now is meeting the growth in orders and hiring team members to support this growth. Sales leaders are happy, CEOs are happy and the shareholders are pleased we are meeting and often exceeding their growth objectives.

Cash-flow strategies are imperative in manufacturing because the cash-conversion cycle can be quite lengthy. Here are several strategies to consider for your business:

Track Your Cash Flow
The only way to know where your cash is going is by monitoring your cash flow biweekly or monthly.

This article is written by Mark Allen Roberts, CEO and Founder of OTB Solutions.

To say 2021 has been a rollercoaster ride of incredible highs and scary lows is an understatement. We have experienced market disruptions, uncertainty, new pandemic variants, and constraints none of us could have forecasted. In response to these changes CEOs and business owners adapted. A recent McKinsey study indicates more than 60% of CEOs restructured their organization in response to the pandemic.

“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” — William Arthur Ward. 

Maintaining adequate cash flow is a major factor when operating a healthy business in times of growth and prosperity. During tough times it takes on an amplified role. The fundamentals of collecting on receivables, reducing expenses, reducing inventory investment, and the like are still in play, but these and different strategies need to be examined in difficult economic times.