Press Announcement | Better Buying Releases New Report Calling for Minimally Acceptable Payment and Terms Standards
June 1, 2020
Suppliers from 30 countries have responded to Better Buying’s survey about the detrimental COVID-19 payment and terms practices they face that have created massive risks to their cash flow and business continuity. Workers in their factories, many of whom are women, have been negatively impacted with over half of suppliers reporting they have laid off up to 50% of their workforce.
Suppliers also expressed interest in setting minimally acceptable payment and terms practices and outlined specific practices that should be prioritized by the industry. Better BuyingTM is ready to support such an effort and will work to secure robust supplier input into the resulting discussions.
Read the press announcement here.
Access the full report here.
Better Buying is Hiring: Research Associate
Better Buying Institute (BBI) promotes the improvement of buyer purchasing practices, supply chain management, worker conditions, and the natural environment. BBI’s primary activities include:… Read More