Cash Flow Management Helps Manufacturer Avoid Shutdown
The owner of a successful, 20-year-old manufacturing business was finally seeing new demand for his products after the recent economic slowdown. However, the recession caused his customers in the foodservice and hospitality industries to stop upgrading their facilities, reducing his revenues by millions of dollars. The owner was rapidly burning through cash. He was about to shut down a 140,000 square-foot facility with more than 100 employees when he called Platinum Group for help.
Read how Platinum Group saved 150 jobs.
In the News
Book Review Provides Insights for the Strategist in Your Company
Platinum Member John Hehre recently wrote a book review for the Manufacturers Alliance’s October newsletter on “The Strategist: Be the Leader Your Business Needs” by Cynthia A. Montgomery.
John writes: Many of us have been through strategic planning exercises. The top management team meets in a conference room, usually offsite somewhere. The meeting is frequently facilitated by a consultant. Everyone’s opinions are rearranged on flip chart paper. Nothing changes. Rarely are the discussions as deep, or the results as meaningful, as demanded by questions such as: “Does your company matter?” “If you closed its doors today, would your customers suffer any real loss? How long would it take, and how difficult would it be, for them to find another firm that could meet those needs as well as you did?”
This book provides a balance between a solid approach to strategy development and the leadership required to develop and implement it, according to John.
Read the full book revew in the Manufacturers Alliance E-Newsletter