Not a good time to supply to Corps(e)
Mark my words as someone who has been caught out twice by this in the past.
Change your payment terms to a much shorter time. Payment at the end of the day, payment weekly, or payment on receipt.
If you have to battle for money now, you are in a big problem, the normal ways of making everyone's life a misery until payment is made won't work as they just won't have the cash.
Trick is to slow up work, move onto your own projects, and take a few holiday days, just to feel the water. And be ready to pull your unpaid, copyright work from the system, don't feed the system any more, and keep your work in another location. Renegotiate contract if you have to and be ready to walk.
In the case of physical stock get ready to go down there with the biggest people in your organisation and just take back anything unpaid for. Nothing more amusing than bursting in on the receivers and demanding any unpaid stock immediately. Just walk in and grab your stuff back, dumping the return receipts as you go. Key is to do it fast, most of the people will be shell shocked anyhow. You do have to make sure that you sold under your terms though, and that allows for goods reclaim.
I have been in places where supplier CEOs have all got together and just camped in reception until they have been paid. This is what the credit crunch is all about really, inability for corporations to pay suppliers (including workers).
Big business has too many accountants, and each started to go away from core business, into finance and restructuring of assets. The idea is to keep all monies working for you, and very little money on hand to pay debts, bad business.
So the clever money will move into VC and business angels, hopefully we should see a load of SMEs start up.
But, it is very prudent to never go back to tick, charge them per day, or on deliverables. I think it would be good to see people in jobs get paid everyday as well, that would stop people taking advantage of credit. A payroll represents 12 months of interest on half the monthly payroll.
Corps liked contractors because they would give 2months of credit, bill at end of month and one month to pay, that meant the Corps had 12 months of interest on the 2 time the monthly payout to a contractor per annum (interest at 8 times greater than perms). There are a lot of advantages to not employing people, but instead hiring the services of someone.
But, screw that for a game of soldiers now, your chance of being paid is a very small % until the mess gets sorted out, and quite frankly a lot of people will never be getting paid for work done now, or about a month ago, as the Corps go to the wall.