Source : Procurement Leaders
An increasing number of CPOs are looking to extend payment terms with their suppliers over the coming months, according to the results of our May Procurement Intentions survey.
24% of our Intentions Panel indicated that they plan to increase the time it takes to pay suppliers over the next six months. 64%, meanwhile, said this time would stay the same with the remaining 12% suggesting this time would decrease.
The result highlights a growing trend over extending payment times. In our April survey, 19% of the panel indicated that they would be increasing payment terms; with the vast majority (69%) saying this time would stay the same and the remaining 13% seeing a decrease.
The results are from our newly launched Procurement Intentions Index, a longitudinal survey which regularly analyses the intentions of a global CPO-level panel, which is spread equally across different industries and regions, to gain insights into strategic decision making.