What is the fastest-growing phenomenon in supply chain? We all know about the impact of online shopping on strategies, but even so, there is a good case to be made for supply chain finance. A recent study by Demica suggested that such schemes have been growing at the rate of 40 percent a year and are set to continue growing albeit at a slightly less frenetic rate.
Small and medium-sized enterprises are key drivers of growth in Asia, but they are hindered by inadequate access to finance, particularly from large banks. However, the Malaysia Institute for Supply Chain Innovation (MISI) has developed a framework for helping banks to tap into this vast market.
Supply chain optimization is at the heart of a four-year plan by Kellogg's to save up to $475m a year by 2018. The company estimates that by the end of 2017, Project K will reduce the company's global workforce by about seven percent.
Basware has joined with MasterCard to develop an electronic-payment application which speeds up payment to suppliers upon invoice approval, while extending payment terms for buyers.
With every crisis comes opportunity. The Great Recession, which choked off access to capital and placed suppliers around the world in economic jeopardy, triggered the growth of supply-chain finance programs, benefiting suppliers and buyers alike.
Tipalti, an online provider of global payment services, has expanded its automated system to support global automated clearing house (ACH) payments to the 32 countries participating in the Single Euro Payments Area.