From Longman Business Dictionarycreditor turnover rateˌcreditor ˈturnover rate noun [countable usually singular] ACCOUNTINGECONOMICSCOMMERCEthe amount a company owes its suppliers at any one time as a percentage of the total amount it buys from suppliers during a year. The credit turnover rate shows how quickly a company usually pays its suppliers
