TRADE POLICY IN THE ASPECT OF TRADE CREDIT IN GROUP PURCHASING ORGANIZATIONS

The question of managing of financial liquidity is relevant for the future development of any enterprise.The improvement of the financial security of small enterprises has a positive impact through cooperation within procurement groups.It is determined that the procurement group represents a specific form of association of small and medium-sized businesses for the purpose of conducting joint purchases.Such associations have been operating successfully in many countries of the world for a long time, Poland is no exception, whose experience may be useful for Ukraine. It was found out that trade credit is a commodity form of a loan provided by sellers to buyers in the form of a delay in payment forsold goods, provided services. The purpose of the study is to analyze and determine the role of trade credit and risk management of receivables within the framework of implemented trade policy of purchasing groups. This article explores the peculiarities of the activity and focuses on the issues of trade credit management at Polish enterprises that cooperate in purchasing groups. There were monitored 28 Polish trade enterprises operating in the construction industry for 2014—2016. Also there were analyze the mechanism of the influence of the company within the procurement group on the construction of a competitive advantage. It is proved that in many countries a significant part of the current funding working capital needs covered through trade credit, which is an important instrument of trade policy within the framework of competition in the market.After all, the company has the opportunity to receive discounts on early repayment of obligations and use of the maximum term of the credit. It is proved that commercial credit is the cheapest source of financing for a company's assets, and the creation of a commercial credit management strategy is based on liability management policy.There are three main strategies for managing receivables: conservative, aggressive and moderate.The analysis shows a moderate conservative strategy for Polish companies operating in procurement groups and using discounts for early repayment of their obligations before suppliers.