Carl Camden calls it the “war for cash”. The chief executive of Kelly Services, the US employment agency, uses this phrase to describe the fight taking place up and down the global supply chain.

Manufacturers, service providers and suppliers all want to be paid as quickly as possible as the financial crisis and ensuing global economic downturn put a premium on conserving cash. In turn, many are trying to pay their own bills later. The battle also extends to inventory gluts as some companies try to push excess stock down the supply chain at any cost.