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Last updated on 2024年10月11日

How do you manage cash flow in retail during a crisis or disruption?

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Cash flow is the lifeblood of any retail business, especially during a crisis or disruption. When sales drop, expenses pile up, and customers delay payments, you need to have a clear strategy to manage your cash flow and avoid running out of money. In this article, we'll share some tips on how to do that effectively.

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Gladys Waigi

Head of Finance & Operations I Finance Director I FP&A Manager |
CA HENCY SHAH ????

??FCA | ??M.Com (F&T) | ??16x LinkedIn Top Voice | ???Information System Auditor | ??Certified Forensic Accountant…
Paul Eder, PhD

I Lead You to New Insights | Strategy Consulting, Artificial Intelligence, & Data Innovation | Author of FIRESTARTERS

1 Assess your current situation

The first step is to understand your current cash flow situation and how it may change in the near future. You need to track your cash inflows and outflows, as well as your cash reserves and credit lines. You also need to forecast your cash flow based on different scenarios, such as a prolonged lockdown, a partial reopening, or a full recovery. This will help you identify any potential gaps or risks and plan accordingly.

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CA HENCY SHAH ????

??FCA | ??M.Com (F&T) | ??16x LinkedIn Top Voice | ???Information System Auditor | ??Certified Forensic Accountant | ??Certified Concurrent Auditor | ??Virtual CFO | ??Researcher | ??16K+ Family | ??800K+ Impressions
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During times of crisis or disruption in the retail sector, effectively managing cash flow becomes paramount. One strategy that has proven invaluable is meticulous forecasting coupled with agile adjustments. By closely monitoring inventory levels, negotiating favorable terms with suppliers, and optimizing pricing strategies, we can maintain healthy cash reserves while adapting to fluctuating demand patterns. Additionally, implementing cost-saving measures and exploring alternative financing options can provide a buffer against unforeseen challenges. Ultimately, proactive planning and flexibility are key to navigating turbulent times and ensuring financial stability for the business.

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2 Cut unnecessary costs

The next step is to reduce your expenses as much as possible, without compromising your core operations or customer service. You need to prioritize your essential costs, such as rent, payroll, utilities, and inventory, and eliminate or postpone any non-essential ones, such as marketing, travel, or equipment. You can also negotiate with your suppliers, landlords, or creditors for lower rates, longer terms, or deferred payments.

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Reghu Achikulathu MSc, MCIOB, MIIQS

Contract & Cost Management | ALEC Engineering and Contracting ||Manager Quantity Surveyor/Commercial Manager @ Shapoorji Pallonji Group | MSc, Quantity Surveying, Commercial Management | NCMA | CMQS
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During a crisis, it’s essential to act quickly in eliminating non-essential expenditures. In my experience, identifying and cutting unnecessary costs can make a significant impact on cash flow. I recommend starting with discretionary spending like marketing or non-core investments and then re-evaluating operational efficiencies. However, I advise balancing cost-cutting measures with the need to maintain service quality and customer satisfaction, as slashing too many expenses might harm the long-term viability of the business.

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3 Boost your sales

The third step is to increase your revenue as much as possible, without sacrificing your margins or quality. You need to adapt your sales strategy to the changing customer behavior and demand, as well as the health and safety regulations. You can also leverage your online channels, such as your website, social media, or e-commerce platforms, to reach more customers and offer more convenience and value. You can also offer discounts, promotions, or loyalty programs to incentivize purchases and repeat business.

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Paul Eder, PhD

I Lead You to New Insights | Strategy Consulting, Artificial Intelligence, & Data Innovation | Author of FIRESTARTERS
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During the pandemic, online sales rose drastically. I run an eBay business and my demand flew up three-fold. I had to adapt by purchasing more inventory. The government stimulus checks led to crazy revenue a few months. When that period ended, it served as a mini-crisis. I had stocked up and needed to run promotions to pare my excess inventory back.

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4 Manage your inventory

The fourth step is to optimize your inventory management and avoid overstocking or understocking. You need to balance your inventory levels with your sales forecasts and customer preferences, as well as your cash flow needs and storage capacity. You can also use inventory management software or tools to monitor your stock levels, track your sales trends, and automate your ordering and replenishment processes.

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Gladys Waigi

Head of Finance & Operations I Finance Director I FP&A Manager |
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Inventory management plays a crucial role in cash flow management, especially during times of crisis. To optimize inventory levels and ensure efficient use of resources, one effective strategy is inventory aging analysis. This involves categorizing inventory based on its age and sales velocity. Slow-moving products can tie up capital and storage space. On the other hand, fast-moving products indicate high demand. By identifying slow-moving items, businesses can implement sales strategies such as discounts, promotions, bundling, or liquidation to offload them efficiently. This frees up capital and space for more profitable items.

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Carlos Roberto Kassai

Software: SBPL - Strategic Budget Plan | Plano Or?amentário | Custos | Pricing | Relatórios Gerenciais | Capacita??o em Controladoria e Finan?as
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A gest?o de estoque, em minha opini?o, é o ponto principal para manter o Fluxo de caixa, em crise ou fora dela. é possível trabalhar com estoque até de mio dia (1/2 dia), fazendo contratos mais longos com fornecedores que passam a trabalhar dentro da nossa casa (empresa). Estoque deve ser controlados em dias, mas principalmente em valor, ou seja: reduzir valores relevantes garante mais caixa do que reduzir apenas dias de estoque mínimo.

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5 Collect your receivables

The fifth step is to speed up your cash collection and reduce your accounts receivable. You need to have a clear and consistent invoicing and payment policy, as well as a proactive and polite follow-up system. You can also offer incentives for early or prompt payments, such as discounts, rewards, or free shipping. You can also use online payment methods, such as credit cards, PayPal, or Stripe, to make it easier and faster for your customers to pay you.

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6 Seek external support

The sixth step is to seek external support if you need it, such as grants, loans, or subsidies from the government or other organizations. You need to research and apply for any available programs that suit your business needs and eligibility criteria. You also need to be careful and realistic about the terms and conditions of any external funding, such as the interest rates, repayment periods, and collateral requirements.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Carlos Roberto Kassai

Software: SBPL - Strategic Budget Plan | Plano Or?amentário | Custos | Pricing | Relatórios Gerenciais | Capacita??o em Controladoria e Finan?as
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As leis governamentais podem minimizar o risco de gera??o de caixa do varejo, reconhecendo o custo de estocagem. Pois tudo é capital. E se este capital fosse transformado em uma máquina de manufatura, teria o custo gerador de caixa: deprecia??o. O varejo é desprivilegiado na gera??o de caixa, perante as indústrias, pois n?o é reconhecido custo algum gerador de caixa.

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How do you manage cash flow in retail during a crisis or disruption?

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1 Assess your current situation

2 Cut unnecessary costs

3 Boost your sales

4 Manage your inventory

5 Collect your receivables

6 Seek external support

7 Here’s what else to consider

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