https://pdfcoffee.com/supply-chain-finance-at-procter-amp-gamble-pdf-free.html

The article is too long, attached is a link. I will publish 5 questions about this article in succession, hope to get help, thank you!

Supply Chain Finance at Procter & Gamble

In April 2013, Procter & Gamble (P&G), the world's largest consumer packaged goods (CFG) company, announced that it would extend its payment terms to suppliers by 30 days, from the current average of approximately 45 to 75 calendar days. At the same time, P&G announced a supply chain financing (SCF) program giving eligible suppliers the ability to contract with one of two global banks to receive discounted payments for their P&G receivables in 15 days or less.

Brazil⁷s Fibria Celulose S.A. (Fibria) had joined the SCF program in the middle of 2013, and its managers had been pleased with the program's results to date. Fibria, a P&G supplier since the 1980s, manufactured bleached eucalyptus pulp in Brazil and shipped it to P&G factories across North America, where it was used to make household products such as tissues and paper towels. Fibria^zs U.S. general manager, Mateus Pires De Morais Carmo, managed most operational aspects of the P&G relationship out of his office in Miami, Florida. In August 2015, he and members of Fibria⁷s treasury group in Brazil were reviewing the costs and benefits of the program, and deciding whether to continue with their current SCF bank, and under what terms, or switch to the other SCF bank in the program.

Why did P&G simultaneously launch the SCF program in April 2013, along with the new payment terms? How does the SCF program work and who benefits from it? Is the SCF financing rate competitive?