A case study analysis of the benefits of a sound working capital policy for Lawrence Sports.
Written in 2008; 2,619 words; 7 sources; APA; $ 78.95
Paper Summary:
This paper discusses a working capital policy and its aims for a company. Specifically, the paper discusses the case of Lawrence Sports and the critical financial situation they find themselves in, which calls for a revamp of the working capital policy for the company. The paper also discusses how a sound policy will allow Lawrence Sports to not only meet its short-term financial obligations, but also to take advantage of potential long-term opportunities as well.
Table of Contents:
Abstract
Working Capital Policy
Cash Requirement
Credit
Supplier Negotiation
Short Term Financing
Metrics
Ethical Implications
Conclusion
From the Paper:
"For instance, changes in the cash balance requirements include establishing a reserve fund for emergencies, and shifting away from a monthly cash budget to a weekly cash budget. Changes in credit management involve speeding up the collection of receivables, negotiating better prices of goods, and initiating better inventory-management practices. Changes in the supplier negotiation component of the policy include establishing bilateral terms of payables and receivables and initiating a goods-inspection procedure. Changes in short term financing aims to move the company away from bank-borrowing to securitization. In a change of pace, Lawrence Sports will engage the money market forum by issuing commercial paper and medium-term notes. Lastly, the policy will be heavily scrutinized by changes made to the metrics component; which includes the establishment of a quality-assurance program and the sharing of financial records among the key business partners."
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