AS A STRATEGIC PRIORITY, the CEO of a global equipment and services provider for the energy industry established an imperative to improve their working capital status.
Same day delivery and fulfillment of customer orders was and continues to be a critical component in the design, manufacturing and sale of various sub-sea production and processing systems.
The company’s ongoing cash position was compromised by a lack of bench strength in inventory control, systems and skill sets combined with poor cash controls to capture unbilled receivables.
There was no accountability for unfulfilled specialty orders and suppliers were not held responsible for late or inaccurate deliveries.