Supply Chain Finance Awards 2020

Nestle has won the Gold Award for best supply chain finance programme in the 2020 Supply Chain Finance Awards.

Judges praised the company’s market-leading efforts to combine environmental, social, and corporate governance (ESG) financing with supply chain financing.

The food and beverage company’s programme involved expanding its existing collaboration with the receivables and payables trading platform CRX Markets to allow for ESG-compliant receivables to be uploaded and be given preferential financing terms from investors. Nestlé hopes to encourage even greater ESG compliance among suppliers with the use of financial incentives.

The Nestlé entry reflects a trend among this year’s entries to move beyond using supply chain finance solely to improve the financial position of the buyer. This year’s competition included entries from a retailer, a tyre manufacturer, and a mining firm, all of which highlighted their efforts to use SCF to look after the interests of suppliers, the wider community, and the environment.

In a year that has seen supply chains disrupted and livelihoods lost due to Covid-19, the emphasis on the health of the wider supply chain seemed more pertinent than ever.

The awards presentation ceremony, sponsored by Rabobank, was the closing highlight of the SCF Europe Forum 2020 which this year took place online due to Covid-19 restrictions rather than in its usual location in Amsterdam.

Nestlé was also the winner in the FMCG Food & Beverage category, where German chemicals and consumer goods company Henkel was highly commended.

South Africa’s Richards Bay Minerals was the winner in the Manufacturing and Industry category.

The Co-operative Group in the UK was the winner in the Retail and Apparel category, while India’s JK Tyre and Industries secured the top spot in the Transport and Logistics category.

Take a look at the announcements of all winners in each category of the SCF Awards 2020.