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As the financial manager of Lawrence Sports the company’s cash position is of my highest concern. The circumstances we as Learning Team A have endured with our primary customer Mayo Stores have created difficulty with our working capital
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Memorandum To: Stephanie Sanders, CFO, Lawrence Sports and Lan Guan, Instructor for FIN/554 CC: Learning Team A Newsgroup From: Shivanand R Koppalkar, Andrew Gorman, Scott Schifilliti, Ha Nguyen and Megan Wilson Date: April 3, 2006 Re: Working Capital Management Simulation Based Memo. Collection and Payment Policies As the financial manager of Lawrence Sports the company's cash position is of my highest concern. The circumstances we as Learning Team A have endured with our primary customer Mayo Stores have created difficulty with our working capital management. We have developed options to improve our cash flow and reduce high interest debt. We must bring our business partners closer to the problem. Meetings have been scheduled with senior members of our supply chain management. The principal owners of Gartner and Murray, our top vendors have been called in to discuss the problem. Neither company was encouraged about moving payment schedules to offset slow payments from our customer; however, they understand the...
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