Glove business is piping hot. Just 3 years ago, some...
Sounds too good to be true?
Not this one, it’s already been done by a few retailers even as you are reading this post. The government and SMEs are also promoting the use of P2P as an alternative source of financing for the country’s small and medium enterprises.
The video should explain the concept sufficiently, and the rest of this post will serve only to provide some summary.
Although the video presents the scenario from the perspective of a pharmaceutical retailer, this concept is applicable and has been utilized successfully by other types of businesses, especially in the fast-moving consumer goods and electronics sector dealing with suppliers such as Nestle, P&G, Unilever, Samsung, L’OREAL, and many others.
If your business is stuck in the lower gear because your suppliers refuse to extend their credit sales for any goods ordered above and beyond your regular credit limit, then this system is perfect for you.