Achieving Superior Performance in Working Capital Management
Date: Tue, Dec 10, 2013
Time: 02:00 P.M. ET
Duration: 1 hour
As the economic picture brightens, companies have loosened their grip on managing working capital. According to the most recent study on the subject by REL Consulting, days sales outstanding (DSO), days inventory outstanding (DIO) and days payables outstanding (DPO) have deteriorated substantially since the recession.
This is unfortunate. Obtaining superior results in working capital management means maintaining and improving controls to keep costs down, in addition to generating capital to invest internally regardless of current economic conditions. With more working capital, organizations can pay off debt obligations earlier, thereby increasing net margins to shareholder benefit. This capital also can be invested in acquisitions, released to shareholders as dividends, earmarked for R&D or tapped to buy back company stock.
There are ways to maintain more stringent working capital standards through internal process improvements and, especially, through the use of cloud-based software tools that permit more efficient, cost-effective procurement, inventory management and accounts payable automation.
During this Webcast, you will learn:
- How to identify problems in working capital management before they take root;
- How to develop DSO, DIO and DPO performance metrics that permit degrees of flexibility;
- How to rein in maverick spending without hurting the bottom line; and
- Why it makes sense to leverage cloud-based technology tools to manage company spending, suppliers, contracts, sourcing, inventory and accounts payable more efficiently.
About the Panelists
Brett Cornell, Vice President, Value Consulting, SciQuest
Brett Cornell is Vice President of Value Consulting with SciQuest, leveraging his vast procurement and spend management expertise across multiple business areas at SciQuest to improve solution strategies, enhance the customer experience, and influence company and product solution direction.
To SciQuest, he brings more than 20 years of experience from various roles at Johnson & Johnson, most recently as Vice President and Category Leader of Global Packaging Procurement. While in that role, he also co-led J&J's Procurement Sustainability Initiative and championed its Procurement Leadership Development Program. In other capacities at J&J, he held two positions with J&J Consumer Europe in Switzerland as Director of Indirect Goods and Services and as Group Manager for Chemicals. Prior to those posts, he held several managerial positions at J&J subsidiary McNeil Consumer Healthcare. He holds a B.S. in Industrial Engineering from The Pennsylvania State University.
Dan Ginsberg, Associate Principal, REL Consultancy Group
Dan Ginsberg is an Associate Principal with REL Consultancy Group, a division of The Hackett Group. His focus is on total working capital performance improvement. He has a track record of delivering hundreds of millions in cost savings and revenue enhancements through the implementation of large-scale initiatives involving total working capital management, production restructuring, strategic sourcing and outsourcing, and business process re-engineering.
Mr. Ginsberg has more than 12 years of experience in the management consulting industry, with four years as a partner and member of the board of directors of Mitchell Madison Group. He has worked for Fortune 500 insurance carriers, investment banks, retails banks, telecom providers, consumer products companies and media publishers. Mr. Ginsberg studied economics in a five-year Bachelors of Science/Masters program at the George Washington University, where he graduated magna cum laude.
Bob Shecterle, CEO, Lighthouse Software Strategies
With more than 25 years of experience in software strategy, marketing, product management and advisory services, Bob Shecterle has engineered the solution strategies, marketing approaches and product launches of some of the industry's most notable e-commerce and supply chain solutions. He has been on the board of directors of the Supply Chain Council, and was named a "Pro to Know" by Supply and Demand Chain Executive Magazine in 2004 and 2013. Mr. Shecterle has taught business systems at the University of Wisconsin-Milwaukee and he has been a lecturer at the University of Chicago, Northwestern University and the Monterey International Institute, as well as at supply chain industry events around the world.
In addition, as the leader of the supply chain and sustainability research practices at the Aberdeen Group, Mr. Shecterle has been an industry researcher, advisor and evangelist influencing the direction of entire solution segments and helping users chart their automation and solution deployment strategies. He holds a Bachelor of Business Administration degree from Loyola University Chicago.
About the Moderator
Russ Banham is the senior writer with CFO magazine. During the past three decades, Mr. Banham has written close to 200 feature stories for CFO and CFO.com, as well as thousands of articles for many other business publications, including Forbes, The Economist, The Wall Street Journal, Financial Times, Chief Executive, U.S. News and World Report, Journal of Accountancy, and many others.
He is the author of 23 books, including The Ford Century, the award-winning, international best-selling history of Ford Motor Company, translated into 13 languages, and The Fight for Fairfax, detailing the extraordinary economic growth of northern Virginia in the aftermath of World War II. His various books have led to several television appearances, including on the TODAY show and A&E's Biography. He is currently writing a history of aviation in Hawaii.