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Working Capital and Cost Reduction
It's possible to slash your spend by 10-30% and reduce Working Capital by 20-50%, within 3-12 Months, simply by using our problem solving approaches. These structured frameworks help identify the weakest areas before determining the causes and implementing the best sustainable solutions. Huge returns can be delivered quickly through our knowledge of best practises, tailored approach for each problem and engagement of the key stakeholders in your organisation.
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The GELRAD Procure to Pay improvement process helps you to greatly reduce spend, minimise overall working capital and improve your vendor management. Initially we perform an assessment of existing processes and obtain key data to baseline performance and identify potential improvements. The team decide on areas of focus and then work to understand the underlying causes. Using combination of experience, findings from the analysis and our knowledge of best practises we implement solutions. The improvement is validated and controls are put in place to ensure sustainability.
Typical benefits include:
- Massive spend reduction through channelling spend and compliance with strategy
- Identification of preferred vendors and improved performance management
- Improved payment performance to vendors and reduced noise
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Using the GELRAD Forecast to Fulfil process it is possible to:
- Significantly reduce working capital by minimising finished goods inventory, raw material and WIP
- Improve logistics performance and efficiency whilst lowering costs
We start by baselining current performance and identifying opportunities through data collection and investigation into current activities. A combination of analysis techniques are then applied to determine the root causes.
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The GELRAD Order to Cash improvement process helps you to reduce working capital by minimising receivable debt and rationalising payment terms. We collect data and perform an assessment of the current operations to baseline performance and identify the opportunity for improvement. These findings are then shared with your team to determine prioritisation of the issues and investigation of the root causes. Together we develop sustainable solutions based on the insights and experience of best practises.
Typical benefits include:
- Customers paying quicker on average, reducing the cash tied up in receivable debt
- Fewer complaints, credit notes and disputes relating to customer invoicing
- Simple and effective processes for agreeing terms, invoicing and cash collection