So as a result of the credit crunch you have cut down your stocks?
Provided this has not negatively affected your delivery performance this action this action will have had a postive impact on your business.
Whilst we would not be presumptious enough to suggest that we are coming out of the credit crunch when we do we would strongly advise not building up stocks again - get used to this mode of operation. There are ways to do this so preserving the positive impact on your business. You need to do this effectively and EMS can help with a planned approach to preserving your customer delivery performance whilst minimising stocks.