Managing Working Capital During Unpredictable Times w/ Peter Woolery

The COVID-19 pandemic has caused unprecedented levels of disruption and uncertainty for companies across all sectors and geographies. And even in the best of times, many management teams struggle to sustain good control over short term cash flows and the working capital that drives them. However, the COVID-19 crisis has been unique in its combination of challenges, making mitigation even more complex.

How are businesses dealing with the changes in supply chain, alterations and disruptions to cash flow, and ensuring that their suppliers, vendors, and customers are going to remain financially viable?

On this episode of CFO Weekly, we sit down with Peter Woolery. Peter is the Chief Financial Officer at Summit Bicycles, and began his career with the company cleaning floors, toilets, and assembling kid’s bicycles for the holidays, working his way all the way to the executive team.

Our conversion centered around:

• His journey from cleaning floors to being the CFO
• The ways that Summit has had to adjust to a 700% increase in online sales in 2020
• Why despite all of the bicycle sales so far, bicycle company CFOs are still worrying about cash flow
• The one positive thing that Peter and his team have gained out of the COVID-19 pandemic
  
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  Presented by Personiv

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