MENZIES DISTRIBUTION SOLUTIONS LIMITED
Company number: 03805401
Reporting period:
1 July 2024 to 27 December 2024
Report filed on:
3 February 2025
Approved by:
Tracey Eckersley
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 46%
- in 31 to 60 days: 46%
- in 61 days or more: 8%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 31%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Menzies Distribution Solutions standard payment terms are 60 days from date of invoice. Terms that are outside of 60 days have to be approved by CFO in line with working capital.
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
90 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Invoices are received via the invoice email mailbox(invoices@mdgrp.com). If the purchase order matches the invoice value then it will be processed onto our ERP system. If there is an issue with the PO such as out of tolerance, been used or not approved/receipted it will go to the buyer via an automated email for several days to be resolved. If not resolved during this period one of the AP team will manually try to resolve it with the depot. If the invoice has no PO or an invalid PO it will be rejected back to the supplier via an automatic email to request they contact the buyer/depot for correct PO. All queries should be sent to accountspayable@mdgrp.com where the team have a 48 hours SLA to respond to suppliers.
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.
No
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