External Business Partners,
As we approach the end of June and FY20/21, I wanted to thank you for the incredible support you provided to P&G throughout the past year. You are an integral member of our ecosystem and we appreciate the contributions you have made to the business during an exceptionally challenging year. We have seen our EBPs go above and beyond in so many ways. The Partner of the Year awardees serve as excellent examples of high performing partnerships that have produced significant and sustained contributions to the business, which delivered significant value in 20/21. Congratulations again to our winners!
We have many more accomplishments to celebrate, but before we do, we must finish the year strong. There are still a multitude of supply chain disruptions in many areas, which are testing the resiliency of our network. Despite these challenges, P&G remains committed to our 3 corporate priorities: 1) keeping employees safe, 2) serving our consumers by making, packing & shipping our essential products, and 3) supporting our communities.
We must also prepare ourselves for next fiscal year. Many of the challenges of 20/21 will follow us into 21/22, as the industries we work with are constrained, including commodities, transportation, semiconductors, and labor, to name a few. We will need to practice agility, creativity, and efficiency more than ever. We encourage you to continue partnering with us and to share ideas of how to mitigate the impact to our business.
Lastly, I wanted to take the opportunity to share some exciting news. We are pleased to have been able to offer our EBPs a world-class Supply Chain Financing (SCF) solution for the past 8 years, especially over the past 18 months when the importance of access to low-cost working capital was magnified. With more than 2,000 suppliers and over $14Bn in throughput, our SCF program has generated more than $4 billion of incremental cash flow for our EBPs. This helps our partners operate their businesses more sustainably, and better meet a variety of needs, from capital investment to payroll expense.
With that said, as of June 1st, 2021, Bank of America became an official SCF banking partner to P&G, joining our existing SCF banking community that includes Citibank, JP Morgan, and Deutsche Bank. We are excited to welcome Bank of America to P&G’s Cash Acceleration Program as we drive sustainability and resiliency across both P&G and our external business partners. Please contact your buyer to learn more.
I know the next 30 days will be busy as we close out PO’s and make year-end shipments. I want to personally thank you for your partnership over the last 11 months. We started this together and we will finish this together, strong.
Be safe and healthy.
Ana Elena Marziano
Chief Purchasing Officer