When the Association of Corporate Treasurers convenes a special conference on working capital management in Manchester in a few weeks, it could be "standing room only" as companies dash to understand how to handle working capital in a downturn, writes Jeremy Grant .

John Grout, the ACT's policy and technical director, says companies are beginning to realise that "best practice" is to look at the entire supply chain when it comes to tightening up on working capital.