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Friday, September 03, 2010
Friday, September 03, 2010
Latest Procurement News
Posted: Monday, October 12, 2009, 9:58AM
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KNOWLEDGE MANAGEMENT TAGS
"Supply Chain Management"
US economy inching back to health
The US economy is improving "slowly, but continually", according to the September 2009 Supply Chain Index (SCI) report from Cortera.The study, based on a monthly index of accounts receivable (A/R) activities, covers manufacturers, distributors & wholesalers, retailers, services, and transportation companies. Measuring payment activities of approximately 350,000 businesses, the September SCI indicates a "continuing reduction of A/R stress and improved cash flow" throughout the overall supply chain, as well as the fourth consecutive month of decreasing receipt of invoice payments beyond terms (measured in average days beyond terms).
The SCI Index mirrors the slow, but continually improving indicators published in the Institute of Supply Management's (ISM) September 2009 Manufacturing Report on Business - the second consecutive month of growth in the manufacturing sector and the 5th consecutive month of overall economic growth.
"While there is more accounts receivable stress than a year ago, our SCI data suggests that confidence in sales may be starting to return," said Jim Swift, president and CEO, Cortera.
"The increasing rate of payment yields more fluid cash flow for all stakeholders in the supply chain - cash that is so desperately needed to fuel organic business growth and a sustainable recovery."
The Cortera SCI tracks late payments against agreed upon terms, measuring late accounts receivable (Late A/R), excessively late accounts receivable (Late A/R >30 days), and overall average days beyond terms (Average DBT).
"All three measures showed a spike in starting in October 2008, directly coinciding with the financial markets meltdown, and peaked in December of 2008," the study stated.
Procurement Tags - Supply Chain Management, U.S.
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