P&G to Modify Supplier Payment Plan

Procter & Gamble (P&G) is aiming to free up about $2 billion with plans to increase the time it takes to pay its suppliers by as much as 30 days, and the household and personal care company will extend its billing from 45 days to around 75, according to the Wall Street Journal. 

The WSJ noted that P&G recently began negotiations with its suppliers about the new payments terms, which are expected to be implemented over three years and could affect hundreds of companies. To help P&G's suppliers deal with the changes, the company is working with banks to offer cash to suppliers after 15 days from delivery for a fee, the paper said.

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