Sainsbury's is to pay its small suppliers quicker using a new payment management system, the Trading Finance Platform.
All the retailer's suppliers will be paid through the new system, which will also allow them to view their online trading account with Sainsbury's.
Qualifying suppliers will have the option to be paid early once their invoices are approved for payment. Investment bank Morgan Stanley will act as a lender under the scheme.
"Suppliers can use the scheme to leverage Sainsbury's borrowing power if they opt for early payment," said Sainsbury's trading director Mike Coupe.
All the retailer's suppliers will be paid through the new system, which will also allow them to view their online trading account with Sainsbury's.
Qualifying suppliers will have the option to be paid early once their invoices are approved for payment. Investment bank Morgan Stanley will act as a lender under the scheme.
"Suppliers can use the scheme to leverage Sainsbury's borrowing power if they opt for early payment," said Sainsbury's trading director Mike Coupe.
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