Post liberalization and the consequent opening up of the Indian economy has brought the emergence of competitive forces to operate for many corporate. Value as we all know emanates from growth in revenue, reduction in cost of manufacturing, efficient use of resources, i.e. (assets employed to earn the revenue) profits, operating cash flows and return on investment to the stakeholders.
While revenue growth is subject to the vagaries of the external environment, yet, what seemingly remains within the ambit of the management is cost control through efficient use of resources employed (i.e. productivity).
Investment in fixed assets needs thorough planning. However, once done, they lend themselves to certain levels of inflexibility as they become sunk costs. The focus should therefore be on Working Capital Management since, they lend themselves to or are more amenable to certain degree of control in the hands of the Management.
In view of the focus on working capital as a significant tool for cost reduction in the hands of the Finance Manager, Princeton Academy is pleased to announce a one day program in the area of “Working Capital Management”
13th August 2009 From India