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MC009: Credit, Payment Terms, Collections & Borrowing

MC009: Credit, Payment Terms, Collections & Borrowing

FromMaking Chips Podcast for Manufacturing Leaders


MC009: Credit, Payment Terms, Collections & Borrowing

FromMaking Chips Podcast for Manufacturing Leaders

ratings:
Length:
28 minutes
Released:
Feb 9, 2015
Format:
Podcast episode

Description

What is the right method for getting paid for your work? This is a subject that both Jim and I were reluctant to talk about; however, our goal is to bring the Metalworking Nation together as a community to talk about topics that people are afraid to bring up. What are your typical terms? Do you offer payment via credit card? Should you require a credit card for initial orders? Do you have a defined credit terms policy? If you are agreeing to an OEM contract that stipulates 90-120 day terms, are you considering the financing rate and including that in the price that you charge for the product or service? “Somebody has to pay it!” What is our approach to collecting? When do “put on the heat”? Do you use collection agencies? In our Manufacturing News segment, we discuss Workshops for Warriors, a non-profit that transitions veterans into civilian jobs with a focus on manufacturing training. In our Metalworking Tools segment, we discuss Z-Cut, a line of USA Made standard and highperformance end mills, drills and taps.
Released:
Feb 9, 2015
Format:
Podcast episode

Titles in the series (100)

MakingChips is hosted by a set of multi-generational manufacturing leaders who are on the factory floor everyday, living their lives in the world of manufacturing—they know first hand that manufacturing can be challenging. Founders Jim Carr and Jason Zenger released their first podcast in late December 2014—releasing over 300 episodes to-date, reaching more than 650,000 downloads—all while striving to deliver on their mission, to “equip and inspire the metalworking nation.” In 2019, Nick Goellner, another multi-generational manufacturing leader, joined the MakingChips hosts, bringing a third generation of manufacturing leaders to the table. Join the hosts as they work through industry challenges with leaders such as Titan Gilroy (Titans of CNC), John Saunders (NYC CNC), Mark Terryberry (Haas Automation) and more.