Supply Chain Finance Redefined: A Supply Chain-Centric Viewpoint of Working Capital, Hedging, and Risk Management

• 成果类型: Article
• 署名作者: Kouvelis, Panos
• 署名单位: Washington University (WUSTL)
• 刊物名称: M&SOM-MANUFACTURING & SERVICE OPERATIONS MANAGEMENT
• ISSN/ISSBN: 1523-4614
• DOI: 10.1287/msom.2022.0606
• 发表日期: 2023
• 页码: 2074-2084
• 关键词: Supply Chain Management; OM-finance interface; risk management

摘要

Problem definition: The narrow definition of supply chain finance (SCF) as a financing scheme for accounts receivables fails to capture the knowledge creation of MSOM research scholars of the last 25 years who labored in the area under this label. A redefined definition of the research-and-application field, under the acronym integrated SCF (iSCF), better reflects the interplay of operational, financial, and risk management decisions our scholars and practitioners care about. The foundational knowledge of this field is ready to come into the classroom and elevate SCF courses from the typical accounting and finance for supply chain managers content to a supply-chain-centric viewpoint of important decisions in working capital management, effective cash-flow hedging, and integrated risk management of global supply chain risks. We outline the main research themes behind the iSCF research, and teaching, field; highlight concepts ready for the classroom; and pose some open research questions pointing to the future promise of the field. Methodology/results: Forum paper. MSOM Fellow opinion on topic of supply chain finance and risk management based on his published research. Managerial implications: A supply chain-centric view on state-of-the-art practices for improved working capital, hedging, and risk management in global supply chains (integrated supply chain finance).