I have noticed a trend for large multinational corporations to require 60 terms. Recently we received a letter from a large customer informing their vendor base that their research has indicated 60 day terms are now industry standard and they will be adopting the practice.
With the recession, this is an understandable cash flow solution. However, I am afraid it will be difficult to turn around after the recession. As a small manufacturing company, we have very little leverage to negotiate.
I would appreciate any feedback regarding whether other companies are encountering this trend toward 60 day terms and if they have been successful in countering it.