Supply Chain Finance is a set of possible solutions that companies push to provide additional liquidity to their suppliers by partnering with a financial institution. (Wuttke et al., 2013, Caniato et al. 2016). This is a recent technique and experts are studying it further, SCF results from the intersection between Supply Chain Management (SCM) and the commercial finance (Hoffman and Belin, 2011). Initially, through the SCM, only the flows of information and goods were taken into consideration, ignoring the financial flows. Until the 2008-2009 financial crisis, companies had less need to address liquidity issues or manage the working capital of their supply chain due to highly liquid capital markets (Caniato et al., 2019). The economic crisis has strongly affected banks causing less lending and as a consequence has led to a significant increase in the cost of corporate borrowing (Ivashina and Scharfstein, 2010). In 2020, Covid-19 caused a large impact on short-term liquidity (Guida et al., 2021) in particular for small and medium-sized enterprises, eliminating the commercial credit of the supply chain and determining a lack of stability and continuity of the operational activities of the business; even banks find themselves in serious difficulty due to the economic crisis and this drives them to innovate products and services on the market (Camerinelli, 2009). This thesis explores the concept of Supply Chain Finance, illustrates the historicity of this tool and presents the composition and the major financial indicators that are used to measure the efficiency and success of Supply Chain Finance solutions. This paper also highlights the relevance and benefits of improving financial management along the supply chain, analyzing the key solutions that can be applied, traditional, innovative or collaborative solutions. In conclusion, a concrete case of use of Supply Chain Finance is analysed, the Philips case.
Il Supply Chain Finance è un insieme di possibili soluzioni che le aziende utilizzano per fornire liquidità aggiuntiva ai propri fornitori, collaborando con un istituto finanziario. (Wuttke et al., 2013, Caniato et al. 2016). È una tecnica recente e gli esperti la stanno studiando approfonditamente, il SCF è originata dall'intersezione tra il Supply Chain Management (SCM) e la finanza commerciale (Hoffman e Belin, 2011). Inizialmente, attraverso il SCM, venivano presi in considerazione solo i flussi di informazioni e merci, ignorando i flussi finanziari. Fino alla crisi finanziaria del 2008-2009, le aziende avevano meno bisogno di affrontare problemi di liquidità o di gestire il capitale circolante della catena di approvvigionamento a causa dei mercati dei capitali altamente liquidi (Caniato et al., 2019). La crisi economica ha fortemente colpito le banche causando meno prestiti e di conseguenza ha portato a un aumento significativo del costo dei prestiti alle imprese (Ivashina e Scharfstein, 2010). Nel 2020 il Covid-19 ha avuto un forte impatto sulla liquidità a breve termine (Guida et al., 2021) in particolare per le piccole e medie imprese, azzerando il credito commerciale di filiera e determinando una mancanza di stabilità e continuità delle attività operative dell'impresa; anche le banche si trovavano in grave difficoltà a causa della crisi economica e questo le ha spinte a innovare prodotti e servizi sul mercato (Camerinelli, 2009). Questa tesi approfondisce il concetto di Supply Chain Finance, illustra la storicità di questo strumento e presenta la composizione e i maggiori indicatori finanziari che vengono utilizzati per misurare l'efficienza e il successo delle soluzioni di Supply Chain Finance. Questo elaborato evidenzia inoltre la rilevanza e i benefici nel migliorare la gestione finanziaria lungo la supply chain, vengono analizzate le soluzioni chiave che possono essere applicate, le soluzioni tradizionali, innovative o collaborative. In conclusione viene analizzato un caso concreto di utilizzo del Supply Chain Finance, il caso Philips.
Supply Chain Finance: a case study
COMUNIAN, GIORGIA
2022/2023
Abstract
Supply Chain Finance is a set of possible solutions that companies push to provide additional liquidity to their suppliers by partnering with a financial institution. (Wuttke et al., 2013, Caniato et al. 2016). This is a recent technique and experts are studying it further, SCF results from the intersection between Supply Chain Management (SCM) and the commercial finance (Hoffman and Belin, 2011). Initially, through the SCM, only the flows of information and goods were taken into consideration, ignoring the financial flows. Until the 2008-2009 financial crisis, companies had less need to address liquidity issues or manage the working capital of their supply chain due to highly liquid capital markets (Caniato et al., 2019). The economic crisis has strongly affected banks causing less lending and as a consequence has led to a significant increase in the cost of corporate borrowing (Ivashina and Scharfstein, 2010). In 2020, Covid-19 caused a large impact on short-term liquidity (Guida et al., 2021) in particular for small and medium-sized enterprises, eliminating the commercial credit of the supply chain and determining a lack of stability and continuity of the operational activities of the business; even banks find themselves in serious difficulty due to the economic crisis and this drives them to innovate products and services on the market (Camerinelli, 2009). This thesis explores the concept of Supply Chain Finance, illustrates the historicity of this tool and presents the composition and the major financial indicators that are used to measure the efficiency and success of Supply Chain Finance solutions. This paper also highlights the relevance and benefits of improving financial management along the supply chain, analyzing the key solutions that can be applied, traditional, innovative or collaborative solutions. In conclusion, a concrete case of use of Supply Chain Finance is analysed, the Philips case.File | Dimensione | Formato | |
---|---|---|---|
Comunian_Giorgia.pdf
accesso riservato
Dimensione
1.11 MB
Formato
Adobe PDF
|
1.11 MB | Adobe PDF |
The text of this website © Università degli studi di Padova. Full Text are published under a non-exclusive license. Metadata are under a CC0 License
https://hdl.handle.net/20.500.12608/48401