In this episode of the Advanced Manufacturing and Mobility Business Minute, David Gale, our Global Advanced Manufacturing Transactions leader, shares his insights on a critical concern for manufacturers during the COVID-19 pandemic – liquidity and cash management. During the podcast, David covers the following liquidity topics: Why is maintaining liquidity so critical for manufacturing companies during the COVID-19 crisis? What actions should companies be taking to protect their liquid assets? What effects can manufacturers expect as a result of the pandemic? What other considerations should be taken to address liquidity issues? What are some best practices in managing liquid assets you’ve seen during the crisis? Key takeaways: It is critical for companies to understand and control their liquidity position. Companies should assess their financial resilience, evaluate the need for a cash office, limit their discretionary costs, pause non-essential spending, maintain uncommitted credit and build a cash buffer wherever possible. The longer it takes to “flatten the curve” of the COVID-19 pandemic, the more companies will be forced to shut down as they run out of capital. Communicating frequently with stakeholders and demonstrating transparency will establish trust during this uncertain time.