Supermarkets Offer Extra Support To Suppliers

Tue, 23 Dec 2008

Get the latest prices, codes, vouchers & deals fortnightly.

Supermarket giant Asda is introducing new measures to help suppliers who are struggling through the economic downturn.

The Wal-Mart owned retailer has signed up to the government's Prompt Payment Scheme - a voluntary code of practice launched earlier this month by Business Secretary Peter Mandelson in an effort to ensure suppliers are paid on time and that firms do not later change terms.

A spokesman for the company said: "This is further evidence of our commitment to paying every supplier on time."

Asda already works with a selection of small suppliers whose payment terms are within 30 days and it also offers a "Pay Me Early" option that allows suppliers to request a one-off early payment.

"In today's tough economic climate, this added facility allows suppliers access to short term cash flow, giving them more flexibility over their finances if and when they need it," the spokesman added.

Tesco, which currently offers an "open door policy" for suppliers who are worried they may run into problems, has also signed up to the Prompt Payment Scheme .

Tesco Adds Spectacles To Christmas Sale - Mon, 22 Dec 2008

Supermarkets Agree To Cut Plastic Bag Use In Half - Fri, 19 Dec 2008

Supermarket Giants To Open 200 Stores On Boxing Day - Thu, 18 Dec 2008

Supermarket Food Prices Remain Consistent - Wed, 17 Dec 2008

Supermarkets Forced To Create Contingency Plans For Suppliers - Tue, 16 Dec 2008

Discount Supermarkets More Expensive Than Big Four - Mon, 15 Dec 2008

Tesco Launches Half-Price Christmas Sale - Fri, 12 Dec 2008

Waitrose First Convenience Store Opens For Business - Thu, 11 Dec 2008

Tesco To Become Worlds Second Largest Retailer By 2012 - Wed, 10 Dec 2008

Tesco To Reward Workers With Shopping Vouchers This Christmas - Tue, 09 Dec 2008

More news