Fashion Revolution+Policy to Pay Supplier Within 60 Days

Policy to Pay Supplier Within 60 Days

Does the company disclose a policy to pay suppliers within a maximum of 60 days?

Wikirate ID: 5822338

Metric Type: Researched

About the data

Purchasing practices are the way that a company interacts and does business with the manufacturers that supply their products. It encompasses strategic planning, sourcing, development, purchasing (buying) and the underlying behaviours, values and principles which impact workers. Prompt and fair terms of payment helps suppliers with cash flow enabling them to pay workers on time and adequately.

Methodology

In this question you are being asked to identify whether the company discloses having a policy to pay suppliers within a maximum of 60 days.

Where to look for this information:
- Corporate Social Responsibility report
- In Modern Slavery Statement or
- California Transparency Act disclosure
- Company documents
- Company policies
- Company websites
- Company code of conduct
- Parent company documents (only if the parent company is linked to from the brands website)
- Parent company policies (only if the parent company is linked to from the brands website)
- Parent company websites (only if the parent company is linked to from the brands website)
- Parent company code of conduct (only if the parent company is linked to from the brands website)

Good keywords for your searches include:
- Prompt payment
- Policy
- Purchasing Practices
- 60 days
- 30 days

Things to keep in mind:
- A policy on timely supplier payments might for example be put in place via UK Prompt Payment Code commitments

Topics

FTI2020

Value Type