![\"\"](\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2020\/04\/Coronavirus_H-300x182.png\")
The entire world is facing the same crisis right now.\u00a0 As of the morning of April 2nd, there are close to 1MM Coronavirus cases worldwide, of which 75% are active cases.\u00a0 For almost all countries, the case growth is still growing exponentially on a day-to-day basis.<\/p>\n
With entire nations under lock-down, many industries and businesses have been grinded to a halt. Most businesses are finding it difficult to stay afloat in these never-before-seen times of extreme difficulty.<\/p>\n
Those organizations that will survive are ones that can effectively\u00a0manage their costs, capital, and cash flow<\/b>. Below, we have highlighted several best practices from the Flevy Marketplace<\/a> that discuss these areas:<\/p>\n For additional frameworks and templates relevant to the\u00a0COVID<\/span>–19<\/span>\u00a0crisis,\u00a0take a look here:\u00a0Coronavirus Business Resources<\/b><\/a>.<\/p>\n Have a look at our free online tool, Coronavirus Dashboard<\/a>.\u00a0\u00a0This dashboard presents case trend data and news for the Coronavirus (COVID-19) spread at the regional, country, and territory levels. We track numerous metrics that other websites do not. All data can be easily downloaded for you to perform your own scenario analyses.<\/p>\n","protected":false},"excerpt":{"rendered":" The entire world is facing the same crisis right now.\u00a0 As of the morning of April 2nd, there are close to 1MM Coronavirus cases worldwide, of which 75% are active cases.\u00a0 For almost all countries, the case growth is still growing exponentially on a day-to-day basis. With entire nations under lock-down, many industries and businesses… To Survive COVID-19, We Need to Manage the 3 Cs – Costs, Capital, and Cash Flow<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":6587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[83,82],"tags":[1986,1985,1984,15,14,1983],"class_list":["post-6586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-finance","category-operations","tag-capital-optimization","tag-cash-flow","tag-coronavirus","tag-cost-management","tag-cost-reduction","tag-covid-19"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/6586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=6586"}],"version-history":[{"count":3,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/6586\/revisions"}],"predecessor-version":[{"id":6616,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/6586\/revisions\/6616"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/6587"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=6586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=6586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=6586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
\nCost Reduction will be at the top of the agenda for every organization.\u00a0 So, when it comes to Cost Reduction, where are the areas with we this greatest potential in savings, while minimizing negative impact to our operations and our employees?\u00a0 This framework identifies up to 45 Cost Reduction opportunities across the Porter Value Chain<\/a>, categorized into the areas of Enterprise-wide Opportunities, Asset Management Opportunities, and Function Specific Opportunities.\u00a0 For each Cost Reduction\u00a0initiative, specific examples are provided, along with projected potential savings.<\/li>\n<\/ul>\n\n
\nWant to understand the entire Cost Reduction process? This presentation is a training document about Strategic Cost Reduction (SCR) used by a major consulting firm in a Cost Reduction engagement.\u00a0 This client-facing presentation introduces a 4-phase approach to SCR, from planning to implementation.<\/li>\n<\/ul>\n\n
\nTruer words have never been spoken, cash is king.\u00a0 Cash flow is the flow of money in and out of the business. Managing your cash flow is vital for business survival and growth, even if you have existing cost savings programs in your organization.\u00a0 The impact of disasters such as COVID-19 has driven the global economy into a recession and many businesses are only just trying to survive. Before taking drastic actions such as cutting salaries and staff, now may be a good time to review your current cash flow performance to stem unnecessary cash outflow and eliminate the cost of waste in your processes.<\/li>\n<\/ul>\n\n
\nThis framework on Financial Resilience provides the steps that organizations can take to optimize Cash Flow Management during a crisis and integrate the process for managing financial resilience into the organization’s overall strategy. It also presents an operational review current state assessment in order to fully gauge where cash is being utilized and a monthly cash flow template to ensure effective Cash Flow Management during a crisis.<\/li>\n<\/ul>\n\n
\nAmid this crisis, there is mounting pressure to reduce costs, including stay-in-business (SIB) capital spend. This presentation provides a framework for developing a Capital Scrubbing and Optimization Strategy.\u00a0 \u00a0This framework, developed in accordance with the methodology of a top tier consulting firm in the SIB execution environment, will assist in assessing to determine if Capital Optimization potential exists.<\/li>\n<\/ul>\n\n
\nDo we know our true costs?\u00a0 ABC is a framework that brings truly accurate fact-based measures and visibility to costs. The resulting cost visibility informs manager about what things costs and more importantly why things have costs.\u00a0\u00a0ABC also helps reduce costs and improve productivity by reporting per-unit costs that can be used as benchmarks and to monitors cost trends. ABC can also associate costs with value, quality, and waste, with their strategic importance, with their level of performance, and other “attributes” of work. All of this cost and trait data are further translated into which products, channels, customers or internal company-sustaining workforce staff cause and consume all of the resources… and in exactly what proportions.<\/li>\n<\/ul>\nDo You Need Coronavirus Trend Data?<\/h2>\n