The latest edition of JPMorgan’s working capital index report showed that the time taken to convert inventory purchases into cash flows across S&P 1500 companies fell by eight days in the previous 12 months to its lowest level since 2014.
The July report also highlighted a shift to cash deployment for capital expenditure, increased payouts to shareholders as share buybacks and dividends, and M&A activity since the middle of 2021.
But it has been a different story lower down the food chain, where businesses are still feeling the impact of the pandemic on their supply chains.
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