Five ways procurement can optimize working capital. Consolidate vendors. Establish a system of regular supplier reviews, Negotiate special pricing based on scale. Reduce maverick spending. Control who is authorized to make purchases. Monitor purchases. Track KPIs such as emergency purchases to highlight areas that need improvement. Tweak your inventory approach. By matching your inventory to your needs, you minimize the cost to store and manage it. Seek discounts from suppliers. Pay your suppliers early and pay less through dynamic discounting. Learn more about the Early Payment Program from J.P. Morgan and Taulia. J.P. Morgan dot com slash working hyphen capital.
Our strategic alliance with Taulia allows clients both the capability to onboard suppliers of all sizes across the globe and the flexibility to toggle seamlessly between bank-funded and self-funded early payments. Through J.P. Morgan and Taulia’s state of the art solution, clients will be able to inject liquidity to strengthen their supply chain while simultaneously giving them more visibility and control over their cash, ultimately unlocking trapped working capital within their supply chains.
2022 JPMorgan Chase & Co. Member FDIC. All rights reserved. The statements herein are confidential and proprietary and not intended to be legally binding. Not all products and services are available in all geographical areas. Visit jpmorgan.com/disclosures/payments for further disclosures and disclaimers related to this content.
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