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With Accenture’s help, GlaxoSmithKline realized roughly £1.5 billion ($2.28 billion) in working capital benefits within 18 months.
GlaxoSmithKline believed it could improve its working capital management capabilities and, in the process, release cash for strategic investments across the business. With Accenture’s help, the company launched a comprehensive program that focused on improving working capital in trade payables, trade receivables and inventory in all businesses and all geographies.
Within 18 months, GlaxoSmithKline realized roughly £1.5 billion ($2.28 billion) in working capital benefits and was also able to build the internal capabilities necessary to drive working capital improvements at scale and on an ongoing basis.
Accenture, which was engaged from the start of the Working Capital Program, worked closely with GlaxoSmithKline to:
While GlaxoSmithKline continues the implementation of its improvement initiatives, the company’s Working Capital Program has already:
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