Following four consecutive months of improvement, Corteras Supply Chain Index (SCI) for October 2009 registered a sharp reversal. Although a slowdown in corporate payments to suppliers is typical during the holiday season, this does not ordinarily occur until November or December. Its appearance this early is a cause of concern for credit managers. The October 2009 Manufacturing ISM Report on Business indicates an economic recovery is underway for manufacturers, even though continuing corporate bankruptcies, tight credit, and concerns about consumer spending indicate this recovery could be slow and anemic. Comparing the SCI September 2007 (6.8 days) numbers to the September 2009 (9.56 days) numbers, the Supply Chain Index is fully 40 percent higher. Commercial AR debt greater than 30 days past due is also 50 percent higher than in September 2007. The Cortera SCI tracks late payments against agreed upon terms, measuring late AR, late AR greater than 30 days, and overall average days beyond terms. A two-year view of this data is available on Cortera’s Web site: www xortera.com/stats. The Cortera SCI report is published monthly.
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