Until recently, companies who were dissatisfied with their working capital performance had only 2 options ;
Advantages - a quick way of obtaining scarce skills and solutions to working capital issues, promising rapid improvement.
Disadvantages - high cost involving board level approval, skills mostly transferred to consultants instead of staff, benefits seldom sustained long term.
Advantages - no external fees, new skills acquired maintained internally, ownership of new ways of working retained.
Disadvantages - limited "in house" knowledge of leading edge working capital methodologies and experience of implementing change, likely to underestimate the potential benefits and to set low targets, increased risk of project failure.
Combines the best features of the first 2 approaches, using one highly experienced consultant, to act as the Project Director who trains, coaches, and manages selected client staff act as internal consultants to deliver the necessary change. Advantage include:
