Kaufland reduces payment terms to secure stocks | Progresiv
German retailer Kaufland, the leader of the local retail market, has announced to its partners that it will reduce the payment terms and will pay the invoices in 7 days, as compared to 30 days as has happened so far. In the case of suppliers of fresh products, where the legal term was 7 days, the period will be reduced to 3 days. 
The decision was made in the context of the Coronavirus crisis in order to provide the necessary merchandise stocks. The company said that ensuring the stock of goods is the most important goal after the safety of customers.
"We all go through a complex period that requires human, material and financial resources and that puts all our business plans to the test. For us, in addition to the safety of our customers and employees, securing goods stocks is one of the most important missions. And, because your support in this process is extremely important, Kaufland Romania's management has decided that from today until the end of April it will change the contractual payment period from 30 days to 7 days", is the message transmitted by the retailer to its suppliers.
The Kaufland measure is in effect until the end of April 2020, being applicable even for invoices already registered and which will benefit from the same payment term reduction.
Kaufland operates 127 stores in Romania and is the largest player on the local retail market, by turnover. In 2018, the retailer reported a turnover of 10.8 billion lei, up by 7% compared to the previous year.
https://revistaprogresiv.ro/stiri/kaufland-reduce-termenele-de-plata-pentru-si-asigura-stocurile
