This article is provided by ITR Economics in partnership with IMEC.
This article is provided by ITR Economics in partnership with IMEC.
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 is an original article written by Alex Newman, Co-Founder and CEO of Finance Fuel.
A quick definition so that we’re on the same page: Working capital is your cash for day-to-day expenses. More specifically, working capital represents short-term assets available to a business for meeting their financial obligations like payroll, creditors, and suppliers. Cash flow is your ability to generate cash over time, while working capital is a snapshot of what’s on hand.
