General Motors Parts Agreement Addresses Supply Chain Challenges
General Motors (GM) agreed to a financing arrangement with Procura Auto Parts LLC, a supply-chain management firm, to secure critical parts for continuous production amid supply chain disruptions.
Under the arrangement, Procura will prepay suppliers and store inventory on behalf of GM. Once the inventory is consumed in production, GM will repay Procura with irrevocable payment undertakings backed by a bank syndicate.
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