Tesco has announced it will be extending its improved payment terms for its smaller suppliers until 31 January 2021. Nearly 2,000 suppliers will continue to have their invoices paid immediately, instead of the usual 14 days. Since the beginning of the COVID-19 pandemic, smaller suppliers have been amongst the hardest hit in the food industry. This extension of Tesco’s improved payment terms will mean small businesses will continue to be supported throughout the busy Christmas period and beyond. Chief Product Officer, Andrew Yaxley said: “With uncertainty in the food sector…
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Sainsbury’s pledges to support suppliers, partners and tenants
Sainsbury’s is pledging support to suppliers and partners that help to feed the nation in these challenging times. Sainsbury’s will work collaboratively with suppliers to support them with vital cash flow where needed. The move will help businesses to increase production volumes quickly so they can meet customer demand. Support will also be available to suppliers who find themselves in distress as result of the ongoing uncertainty. Sainsbury’s is encouraging suppliers who would like to hear more to contact us to discuss criteria for support via its Supplier Support team…
Read MoreWalmart Increases Support of Diverse Suppliers with Launch of Dedicated Online Showcase
Walmart has announced it is launching a Supplier Inclusion Showcase on Walmart.com to spotlight products from Walmart’s ever-growing diverse suppliers’ community which includes companies operated by minorities, women, veterans, members of the lesbian, gay, bisexual and transgender (LGBT) community, and people with disabilities. The Supplier Inclusion Showcase will launch at Essence Festival in New Orleans, the largest multicultural celebration in the U.S., which Walmart has sponsored since 2007. The first products featured on the Supplier Inclusion Showcase are from more than a dozen Walmart suppliers attending the festival from a…
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