Morrisons brings in improved payment measures to assist small suppliers

Supermarket Morrisons has announced it is to shorten its payment terms for its smaller suppliers to a maximum of 14 days from the start of next month.

Image: bilbobagweed (CC BY 2.0)
Image: bilbobagweed (CC BY 2.0)

The terms apply to more than 3,000 suppliers whose business with Morrisons is worth up to £100,000 a year.

Morrisons group commercial director Darren Blackhurst said: "We aim to buy and sell simply and when we listened to our smaller suppliers, they told us that these payment terms would help them with their cash flow. We want our smallest suppliers to grow with us."

Morrisons announced last month its intention to find 200 local suppliers as part of its Nation's Local Foodmakers programme, who could benefit from the change.

It has also said it intends launching a free online invoicing system later this year for small suppliers who currently do not use an electronic system.

Morrisons says it is also developing longer-term business plans for own-brand partners and strategic suppliers, and launching an independent whistleblowing service so suppliers may anonymously report concerns.

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