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Efficient working capital management – A Nordea study

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Turning your working capital management into a success is a challenging task — but the benefits are worth it. While there may not be a magic formula, you can learn a lot from other companies when setting out your own optimisation strategy. But how do you know if you’re on the track? And what are other businesses doing to get it right?

Our Working Capital Management study and benchmarking report can help you answer these questions. We analysed the key financial metrics from over 400 Nordic companies from 2008 to 2013, to find out how they were performing and why.

Get a snapshot view of the findings of the Working Capital Management report in this slideshare. Watch it now!

For more information and download the Nordea Working Capital Management report visit Nordea Insights: insights.nordea.com/go/wcm

Veröffentlicht in: Wirtschaft & Finanzen
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Efficient working capital management – A Nordea study

  1. 1. Working capital management How are the Nordics performing?
  2. 2. Overall, there was an improvement in days working capital (DWC) of 6.8% or 5 days from 2008–2013. We studied the annual reports and other publicly available information of over 400 organisations to find out...
  3. 3. Performance varied by industry Transportation improved by 52%, from 57 days to 27 days Process industries improved by 23%, from 113 days to 87 days Consumer services improved by 28%, from 48 days to 34 days Communications improved by 30%, from 20 days to 14 days Best performing industries
  4. 4. Energy minerals worsened by 86%, from 7 days to 13 days Utilities worsened by 35%, from 31 days to 42 days Health services worsened by 38%, from 37 days to 51 days Industrial services worsened by 52%, from 43 days to 66 days Worst performing industries Some sectors fared less well
  5. 5. There was a broad spread of DWC starting figures in 2008, ranging from 100 days to fewer than 10 days. Where you start matters
  6. 6. So what makes a top performing company? What do they do differently?
  7. 7. By focusing on 15 of the top performing companies we learned...
  8. 8. Make working capital a strategic priority Optimise inventory management Streamline supply chain management Focus on receivables management Top performing companies focus on four key strategies...
  9. 9. Made working capital management a long-term strategic plan, supported by: • Strong leadership • Clear communication • Employee engagement Top performing companies...
  10. 10. Amer Sports and Electrolux linked managers’ pay to working capital targets. 26% For example… Amer Sports showed an improvement of 26% in DWC — from 151 to 112 days — between 2008 and 2013
  11. 11. Optimised inventory management by: • Centralising warehousing • Simplifying stock keeping • Using different production models Top performing companies...
  12. 12. 24% Clas Ohlson improved inventory turnover by 7 days. For example... Clas Ohlson reduced its DWC figure by 24% — from 58 to 44 days — between 2008 and 2013
  13. 13. Streamlined their supply chain management by: • Harmonising payment terms • Minimising the range of suppliers • Focusing on in-house manufacturing Top performing companies...
  14. 14. Fiskars made supply chain management a focus area in 2008 and ultimately made the overall supply chain demand-driven. For example... Fiskars improved DWC by 31% — from 117 to 81 days — between 2008 and 2013 31%
  15. 15. Prioritised receivables management by: • Optimising payment terms • Renegotiating supplier contracts • Improving collections Top performing companies...
  16. 16. Millicom International Cellular reduced receivables turnover by 6 days. For example... 28% Millicom International Cellular improved DWC by 28% — from 26 to 16 days — between 2008 and 2013
  17. 17. Regardless of industry, revenue or DWC starting figure, these companies show improvement over a five-year period is possible.
  18. 18. To find out more about making working capital management more efficient, download the full report: insights.nordea.com/go/wcm/

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