Supply Chain Payment Trends: 2021 vs 2022
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.
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