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Working Capital Management
A Guideline for Sustained Optimisation of Inventories, Receivables and Payables
Publisher Ed.: Internationaler Controller Verein, Hendrik Vater and Elena Bail
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Working capital represents the net current assets that are tied up by operations. It is
considered to be committed, non-interest-bearing or „dead" capital that reduces not only
the liquidity of the company but also its return on capital. Working capital should therefore
be as low as possible.
This guideline aims to support the successful and sustained optimisation of working capital.
It provides concrete recommendations for the three core elements of
inventories,
receivables and
payables.
As process control is the key to good working capital management, and because the
relevant processes impact the essential functional areas of a company in a way that might
lead to conflicts, process management and potential areas of conflict receive a focus of
elaboration.
The guideline results from a nearly 3-year discussion and work process by the Working
Capital Management Expert Group of the Internationaler Controller Verein.
considered to be committed, non-interest-bearing or „dead" capital that reduces not only
the liquidity of the company but also its return on capital. Working capital should therefore
be as low as possible.
This guideline aims to support the successful and sustained optimisation of working capital.
It provides concrete recommendations for the three core elements of
inventories,
receivables and
payables.
As process control is the key to good working capital management, and because the
relevant processes impact the essential functional areas of a company in a way that might
lead to conflicts, process management and potential areas of conflict receive a focus of
elaboration.
The guideline results from a nearly 3-year discussion and work process by the Working
Capital Management Expert Group of the Internationaler Controller Verein.