Paul Poirters

Paul Poirters is the treasurer for Heinz Northern Europe and is based in Zeist, The Netherlands. In addition to his regular work he completed the post graduate course Treasury Management at VU Amsterdam University (Vrije Universiteit) in Amsterdam. He received an award for his thesis and related research work from the Dutch Association of Corporate treasurers (DACT) at the annual dinner in January, 2004. The article Working Capital Management and Company Value at Heinz Europe is a summary of his thesis.


Content Posted by Paul Poirters

WORKING CAPITAL MANAGEMENT AND COMPANY VALUE AT HEINZ NORTHERN EUROPE

Working capital management is an area largely lacking in theoretical perspective. One of the reasons is that the idea behind working capital is straightforward. If you minimize the amount tied up in receivables, inventory and maximize the amount tied up in payables, you maximize your cash flow. In reality the decision of how much to invest in working capital is not as straightforward however. Like all financing decisions it involves a risk – return trade-off. This article focuses on the relationship between the investment in working capital and the value of the company at Heinz Northern Europe.

3. WORKING CAPITAL AND COMPANY VALUE

Working capital management is an area largely lacking in theoretical perspective. One of the reasons is that the idea behind working capital is straightforward. If you minimize the amount tied up in receivables, inventory and maximize the amount tied up in payables, you maximize your cash flow. In reality the decision of how much to invest in working capital is not as straightforward however. Like all financing decisions it involves a risk – return trade-off. This article focuses on the relationship between the investment in working capital and the value of the company at Heinz Northern Europe.

2. WORKING CAPITAL: OPERATIONAL VERSUS FINANCIAL ISSUES

Working capital management is an area largely lacking in theoretical perspective. One of the reasons is that the idea behind working capital is straightforward. If you minimize the amount tied up in receivables, inventory and maximize the amount tied up in payables, you maximize your cash flow. In reality the decision of how much to invest in working capital is not as straightforward however. Like all financing decisions it involves a risk – return trade-off. This article focuses on the relationship between the investment in working capital and the value of the company at Heinz Northern Europe.

4. WORKING CAPITAL AT HEINZ COMPANY: OPTIMISATION PROJECT

Working capital management is an area largely lacking in theoretical perspective. One of the reasons is that the idea behind working capital is straightforward. If you minimize the amount tied up in receivables, inventory and maximize the amount tied up in payables, you maximize your cash flow. In reality the decision of how much to invest in working capital is not as straightforward however. Like all financing decisions it involves a risk – return trade-off. This article focuses on the relationship between the investment in working capital and the value of the company at Heinz Northern Europe.

5. WORKING CAPITAL AT HEINZ COMPANY: FIVE SCENARIOS

Working capital management is an area largely lacking in theoretical perspective. One of the reasons is that the idea behind working capital is straightforward. If you minimize the amount tied up in receivables, inventory and maximize the amount tied up in payables, you maximize your cash flow. In reality the decision of how much to invest in working capital is not as straightforward however. Like all financing decisions it involves a risk – return trade-off. This article focuses on the relationship between the investment in working capital and the value of the company at Heinz Northern Europe.

6. WORKING CAPITAL AT HEINZ COMPANY: A NEW STRATEGY

Working capital management is an area largely lacking in theoretical perspective. One of the reasons is that the idea behind working capital is straightforward. If you minimize the amount tied up in receivables, inventory and maximize the amount tied up in payables, you maximize your cash flow. In reality the decision of how much to invest in working capital is not as straightforward however. Like all financing decisions it involves a risk – return trade-off. This article focuses on the relationship between the investment in working capital and the value of the company at Heinz Northern Europe.