Supply Chain Payment Practices Improve Marginally: Average Score Rises 2.7 Points

The Comparison

• 2021: A survey of 67 companies yielded an average payment practices score of 54.7 out of 100.
• 2022: The average score for 68 companies edged upwards to 57.4 out of 100.

What This Means

While the 2.7-point increase suggests a positive direction in supply chain payment practices, the change is relatively small. This indicates that significant challenges related to payment efficiency and timeliness persist, despite incremental improvements year-over-year. Companies struggling with late payments can use a late payment calculator to assess the financial impact.

One-line summary: Supply chain payment practices improved slightly, increasing from an average score of 54.7 (67 companies) in 2021 to 57.4 (68 companies) in 2022.