Earlier this year Mondelez sent out a letter to its key suppliers explaining the new policy, saying it planned to implement the change in July. Examples of corporate bullying are hardly novel -- big companies are famous for throwing their weight around to improve their own margins at the expense of their suppliers. But in a growing trend, companies try to withhold payments to their suppliers for months after a service is performed or a product delivered. Procter & Gamble recently drew flak when it started negotiating with suppliers to extend the delay in payments to 75 days, up from 45 days. Unilever has been rumbling about a similar move, and Merck has broached the subject of waiting 90 days to pay its suppliers and vendors.
|5 predictions for social media in 2014|
|For Steve Ballmer, a lasting touch on Microsoft|
|5 management tips from Microsoft CEO Steve Ballmer|
|China's 3 most critical risks|
|Exclusive: George Zimmer on being fired by Men's Wearhouse|