Aldi has announced today (29 August) that it has reduced its payment terms for small suppliers to 14 days.
It said that the new terms apply to all suppliers that transact up to €300k worth of business annually with the German retailer.
“We recognise that cost pressures across the supply chain are increasing and placing a strain on smaller businesses in particular. Reducing payment terms to our smaller suppliers should help ease some of this pressure.” Finbar McCarthy, Group Buying Director at Aldi, said.
100 businesses will reportedly benefit from the time frame reduction and it will come into effect from 11 September.
"Our relationships with suppliers are based on longevity, sustainability and trust.
"We have worked with many of our current suppliers since we entered the Irish market almost 20 years ago, and are always looking for ways in which we can work more effectively with them.” McCarthy added.
© 2017 - Checkout Magazine by Donna Ahern