Drinks giants attacked over supplier terms
Tuesday 24 February 2009
The Forum of Private Business has criticised two of the world’s largest drinks companies for changing their payment terms with smaller suppliers.
Diageo, the company behind Guinness and Johnnie Walker whisky, has extended the period within which it pays suppliers to 60 days. Meanwhile, the FPB also said that Anheuser-Busch InBev has told smaller suppliers of services, spare parts and capital expenditure projects that it plans to double its payment period to 120 days.
The FPB has written to them outlining the damage their changes will inflict on smaller suppliers. Phil Orford, the chief executive of the FPB, said: “These two companies are attempting to claw back what they have lost as a result of the economic downturn by taking advantage of their dominant position in this sector at the expense of their supplier base.”
Diageo adjusted its payment terms with non-contracted suppliers with effect from 19 January. Diageo said it had moved to one standard payment term for these suppliers, but the maximum increase for the majority was 15 days. Anheuser-Busch InBev has extended its payment terms from 1 January and is staggering the amount paid to suppliers of capital expenditure projects.
- 2 Russian girl takes her own life after parents find pornography on her computer
- 4 Ball pool for adults opens in London
- 5 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
Russian girl takes her own life after parents find pornography on her computer
Kim Kardashian on Bruce Jenner's 'story': 'We support him no matter what, and I think when the time is right, he'll talk'
Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
Ball pool for adults opens in London
Amal Clooney gives excellent response to fashion question at European Court of Human Rights
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
iJobs Money & Business
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...