Cash is scarce - How to manage liquidity over the next months?
The COVID-19 has forced companies to think and realign their strategies. A well-defined path can’t work in a dynamic environment. In the round table discussion, the key take away from the executives was that it’s important to be ready with a plan for every quarter.
Managing Liquidity plays a crucial role here and focusing on customer management, inventory management, and vendor management can help to stay relevant. It helps to enhance the strategic positioning, increase efficiency, and reduce operating risks.
Some panellist believed that business is handled by a chain of distributors in India and to manage liquidity extending credit days works. Also, the reward for early payment helps to get operational effectiveness.
The event was well concluded with the final point, which said communication is the key. To cope up with the situation talking to people i.e. the suppliers and customers is very important and keeping an eye on the bigger picture is what makes the difference.
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