This document discusses working capital management and survey findings. It summarizes a 2012 working capital survey that found the performance gap between the US and Europe narrowed significantly, with Europe improving more than the US. The gap between large and small companies also narrowed. Leading performers made strides through supply chain optimization, payment term management, and risk management. Poorer performers focused more on short-term fixes than sustainable changes. The document also summarizes variations in working capital metrics across industries and regions.