In what way(s) are quality-leading companies changing their approach to the control of working capital?

Quality-leading companies are finding many ways to improve their production, finance, and management processes to significantly reduce working capital requirements. The move toward just-in-time manufacturing is perhaps the most visible of these improvements reducing the need for inventories the chapter relates the progress that one company, American Standard, has made in this regard. Other changes which have reduced the need for working capital include more efficient cash management through customer-supplier alignments with banks, and more efficient handling of receivables and payables by using electronic data interchange with suppliers and customers.