IKEA LIMITED

Company number: 01986283

Reporting period:
1 September 2017 to 28 February 2018

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This report was filed on 30 March 2018

and approved by Sajal Shah

Payment statistics

Average time taken to pay invoices: 29 days

Invoices paid:

• within 30 days: 82%
• in 31 to 60 days: 15%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 32%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

30 days from receipt of invoice

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

30 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

There are two options available to a supplier if they wished to raise a dispute: 1) Contact the IKEA Business Service Centre Team The IKEA supplier pack sent out to new suppliers includes a contact email address given for suppliers to use when they have any payment queries. This email address (ap.bsc.uk@ikea.com) is managed by the IKEA Business Service Centre team (BSC) in Poznan, Poland. This IKEA company is responsible for the administration of invoices through our electronic invoicing system, Basware. They are also the first point of contact for supplier queries. Suppliers may contact the BSC with all queries, including disputes. The BSC have full visibility of the invoice status at all times and well placed to support the supplier in answering their query. This includes escalating the matter to the relevant person in the business as and when required in order for the dispute to be resolved. 2) Contact their nominated IKEA contact Suppliers may also contact their nominated IKEA contact person i.e. the individual managing the provision of good or services on the IKEA side to raise any disputes directly. IKEA’s standard purchasing template includes a section specifying the details of the individual to be contacted (referred to as a “contract manager”), and also includes a dispute resolution section for all disputes. This covers payment disputes. The sections sets time limits for resolving disputes in good faith before escalating to senior management representatives if necessary.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No, this business has not signed up to a code of conduct or standards on payment practices.

Does this business offer e-invoicing in relation to qualifying contracts?

This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.

Yes

Does this business offer supply chain finance?

This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.

No

Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?

No

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No