Obama got pledges from Apple, Coca-Cola, AT&T, Johnson & Johnson and several other big companies that promised to speed payments to firms down their supply chains in a move that should boost cash flows and increase investment by those smaller businesses.
“SupplierPay” is a voluntary program in which the big firms committed either to paying small suppliers faster or to helping them get access to lower-cost capital. The program set a goal of having small-business contractors get paid within 15 days of delivering a product or service so that their cash flow is strengthened, they have less need to borrow, and will be more inclined to add employment.
This strategy could offer mid-sized firms preferred status among certain vendors, turning a vendor into a high-value partner and allowing them access to everything from free upgrades to pivotal advice, extra training and better service.
Paying small companies slowly has become increasingly common. As the entire U.S. economy deals with patchy growth, sales and payments get stretched out. The zero-interest environment actually has encouraged some large corporations to extend payments to as long as 120 days under the rationale that their smaller suppliers aren’t hurt much financially by having to augment cash flow with credit.
This problem has become especially acute—or at least high-profile—in the marketing business where advertising and public-relations agencies have the audiences and skill sets to be heard on the issue. Procter & Gamble and a number of America’s other biggest advertisers have nudged payments back to 120 days.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
