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The Financial Supply Chain Management: a New Solution for Supply Chain Resilience

Author

Listed:
  • Virgil Popa

    (Valahia University of Târgovişte, Romania)

Abstract

In the present article, the author aims to find solutions to optimize the supply chain for the cash flow – a flow of products reversed from the physical one and the two-ways flow of information. In the last 15-20 years, academics and practitioners were oriented towards increasing the speed, cost reduction on supply chain material’s flow, oriented towards 3RP (3 Resource Planning) logistics solutions and management solutions such as outsourcing or collaborative management. In terms of information flow, there has been a real revolution with the rise of the Internet and information technology standards introduced by the VICS (Voluntary Interindustry Commerce Standards), CSCMP (Council of Supply Chain Management Professionals), SCC (Supply Chain Council) şi ECR Europe (Efficient Consumer Respons). The objective of this paper is to identify new ways of working together on supply chain financial flows. Methods used are the documentation in the literature and the practices of transnational companies under recession. Results refer to the identification of new solutions such as reverse factoring. A comparative analysis regarding the european and national regulations gets us to the conclusion that Romania is still tributary to traditional commercial credit. We propose that the Collaborative management, as a modus vivendi in a globalized and super computerized world, must be included within all Romanian organizations life, within the Supply Chain, but also those which are 3PL (Third Part Logistics) and 4PL (Four Part Logistics) organizations, where not only information services are included, but also financial services (banks and specialized financial institutions).

Suggested Citation

  • Virgil Popa, 2013. "The Financial Supply Chain Management: a New Solution for Supply Chain Resilience," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(33), pages 140-153, February.
  • Handle: RePEc:aes:amfeco:v:15:y:2013:i:33:p:140-153
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    Cited by:

    1. Jia, Fu & Blome, Constantin & Sun, Hui & Yang, Yang & Zhi, Bangdong, 2020. "Towards an integrated conceptual framework of supply chain finance: An information processing perspective," International Journal of Production Economics, Elsevier, vol. 219(C), pages 18-30.
    2. Marak Zericho R. & Pillai Deepa, 2021. "Supply Chain Finance Factors: An Interpretive Structural Modeling Approach," Journal of Management and Business Administration. Central Europe, Sciendo, vol. 29(1), pages 88-111, March.
    3. Ágoston, Kolos Cs. & Benedek, Gábor & Gilányi, Zsolt, 2016. "Pareto improvement and joint cash management optimisation for banks and cash-in-transit firms," European Journal of Operational Research, Elsevier, vol. 254(3), pages 1074-1082.
    4. Wetzel, Philipp & Hofmann, Erik, 2019. "Supply chain finance, financial constraints and corporate performance: An explorative network analysis and future research agenda," International Journal of Production Economics, Elsevier, vol. 216(C), pages 364-383.
    5. Eissa Jabbarzadeh & Ebrahim Teimoury & Saeed Shavvalpour, 2023. "Application of viable system model in diagnosing defects and problems of the credit supply chain network in the Iranian banking industry," Systems Research and Behavioral Science, Wiley Blackwell, vol. 40(1), pages 101-145, January.
    6. Dimitrios Folinas & Naoum Tsolakis & Dimitrios Aidonis, 2018. "Logistics Services Sector and Economic Recession in Greece: Challenges and Opportunities," Logistics, MDPI, vol. 2(3), pages 1-16, August.
    7. Yuting Li & Tong Chen & Baogui Xin, 2016. "Optimal Financing Decisions of Two Cash-Constrained Supply Chains with Complementary Products," Sustainability, MDPI, vol. 8(5), pages 1-17, April.
    8. Zericho R Marak & Deepa Pillai, 2018. "Factors, Outcome, and the Solutions of Supply Chain Finance: Review and the Future Directions," JRFM, MDPI, vol. 12(1), pages 1-23, December.
    9. Ionel Elena-Simona & Miron Alexandra-Dorina, 2023. "Bullwhip Effect Demand Variation and Amplification within Supply Chains," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 17(1), pages 246-253, July.
    10. Zhang, Lu & Cui, Li & Chen, Lujie & Dai, Jing & Jin, Ziyi & Wu, Hao, 2023. "A hybrid approach to explore the critical criteria of online supply chain finance to improve supply chain performance," International Journal of Production Economics, Elsevier, vol. 255(C).
    11. Chakuu, Sumeer & Masi, Donato & Godsell, Janet, 2019. "Exploring the relationship between mechanisms, actors and instruments in supply chain finance: A systematic literature review," International Journal of Production Economics, Elsevier, vol. 216(C), pages 35-53.
    12. repec:aud:audfin:v:21:y:2019:i:51:p:427 is not listed on IDEAS
    13. Lele Zhou & Maowei Chen & Hyangsook Lee, 2022. "Supply Chain Finance: A Research Review and Prospects Based on a Systematic Literature Analysis from a Financial Ecology Perspective," Sustainability, MDPI, vol. 14(21), pages 1-27, November.
    14. Ivana Mijatoviæ & Biljana Tošiæ & Milan Jovanoviæ, 2019. "The Acquiring of the Knowledge about Standards in the Digital Era," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 21(51), pages 427-427.
    15. Mojtaba Azizian & Mohammad Mehdi Sepehri & Mohammad Ali Rastegar, 2022. "A Convex Dynamic Approach for Globally Optimal Profit in Supply Chains," Mathematics, MDPI, vol. 10(3), pages 1-19, February.

    More about this item

    Keywords

    Financial supply chain management; logistic chain; working capital; supply chain finance; net working capital; factoring; reverse factoring.;
    All these keywords.

    JEL classification:

    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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