Tuesday, 12 February 2019: Woolworths Group has today signed on to the Business Council of Australia’s Supplier Payment Code and published a Small Supplier Payments Policy.
Under the policy, small suppliers to Woolworths Group in Australia will be eligible for payment terms not exceeding the latter of 30 days from the receipt of a correct invoice and the date the correct goods were received or services supplied.
The policy also incorporates Woolworths Supermarkets’ existing practice of paying small suppliers of merchandise within 14 days from receipt of goods.
The Woolworths Group supply chain includes more than 18,500 Australian suppliers providing goods and services to Woolworths Supermarkets, BIG W, Dan Murphy’s, BWS and other brands within the group.
Woolworths Group CEO Brad Banducci said: “We’re proud to partner with hundreds of enterprising, creative, and hard working Australian small businesses across the Woolworths Group.
“They play a key role in helping us deliver great experiences and products for our customers every day.
“We recognise how important prompt and on time payments are to the economic health of the sector and are pleased to release this policy.
“This is an important demonstration of our commitment to doing the right thing by small business and will help us foster even stronger partnerships across the sector.”
The release of the policy builds on a range of initiatives implemented in recent years to improve payment processes, with a key focus on small suppliers, for whom reliable cash flow is particularly important.
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For further information please contact Woolworths Group Press Office on (02) 8885 1033.
To read and access the Small Supplier Payment Policy and registration form please click here.