General Mills, Owens-Illinois, Zappos.com to Serve as Best-Practice Partners in APQC's Working Capital Management Study, Launching August 11
Longtime business adviser Protiviti to serve as study’s research champion
(Houston, TX - August 9, 2010) - APQC, (www.apqc.org) the leading resource for benchmarks and best practices, announced that General Mills, Inc.; Owens-Illinois, Inc.; and Zappos.com, Inc. have been named as best-practice partners in APQC's upcoming study Improving Working Capital Management and Cash Flow Intelligence.
This study will examine how the best-practice partners improve processes in the realm of working capital management (WCM). “CFOs today are determined to dig deeper for productivity improvements of all kinds, including getting more out of the cash they use to operate the business. This study will examine novel strategies to drive cash efficiency,” said Mary Driscoll, senior research fellow finance for APQC.
Each of the best-practice partners will provide a detailed presentation on a specific aspect of working capital. The sponsors will benefit from learning how the best-practice partners achieve success, such as how:
- General Mills drives cross-functional ownership of process improvement goals by measuring progress toward quantifiable financial outcomes for individual business units. The company assesses the health of working capital management improvements over time by benchmarking annually.
- Owens-Illinois promotes its financial shared service organization to the business at large as a driver of process efficiency and effectiveness and a source of value-adding decision support. The company generates and automates reports to reinforce sound decision making that helps working capital efficiency.
- Zappos.com integrates WCM principles into training so employees understand the impact of working capital on overall profitability. The company also seeks to eliminate paper and manual processing by working closely with suppliers to deploy automation across the source-to-payment process.
Web-based site visits to the three organizations are scheduled as follows:
- General Mills—Tuesday, August 31st
- Zappos.com —Wednesday, August 18th
- Owens-Illinois—Tuesday, August 24th
Space is still available for organizations to participate as sponsors and join in the site visits and learning sessions. For additional information, visit the study overview Web site or contact Alex Hawkins at firstname.lastname@example.org or 1.713.685.7205.
Protiviti, a global business consulting and internal audit firm, is serving as research champion for the study and will leverage its extensive knowledge and experience gained as a longtime business adviser to assist APQC in providing content and expertise to the study participants.
APQC is the leading resource for performance analytics, best practices, process improvement, and knowledge management. The organization’s research studies, benchmarking databases, and renowned Knowledge Base provide managers with intelligence to transform their organizations. A member-based nonprofit founded in 1977, APQC serves Global 1000, government, and nonprofit organizations. For more information, visit www.apqc.org or call +1.713.681.4020.
Protiviti (www.protiviti.com) is a global business consulting and internal audit firm composed of experts specializing in risk, advisory, and transaction services. The firm helps solve problems in finance and transactions, operations, technology, litigation, governance, risk, and compliance. Protiviti’s highly trained, results-oriented professionals provide a unique perspective on a wide range of critical business issues for clients in the Americas, Asia-Pacific, Europe, and the Middle East.
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