DIGITAL REVOLUTION IN SUPPLY CHAIN FINANCE: OVERCOMING CHALLENGES AND BUILDING INNOVATIVE STRATEGIES

This research aims to analyze the impact of digital technology implementation in Supply Chain Finance, identify challenges in its implementation, and explore development and innovation strategies to optimize the process. This research uses a qualitative approach with literature studies and case studies. Data and information were collected through journals, articles, and reports related to digitalization in Supply Chain Finance. Analysis was conducted through a descriptive approach to understand and interpret the data. The results showed that digitization improves operational efficiency in Supply Chain Finance through process automation and data-driven decision-making. However, there are challenges, including significant initial investments and data security issues. Technologies such as AI, Machine Learning, blockchain, and big data contribute significantly to Supply Chain efficiency and resilience. This research presents insights into the application of digital technologies in Supply Chain Finance, providing insights into the challenges faced and strategies that can be implemented to overcome these challenges. This research contributes to practitioners' and academics' understanding of the potential and limitations of digital technology in the context of supply chain finance. Keywords: Digitalization, Supply Chain Finance, Blockchain, Artificial Intelligence, Big Data Penelitian ini bertujuan untuk menganalisis dampak penerapan teknologi digital dalam Supply Chain Finance, mengidentifikasi tantangan dalam implementasinya, dan mengeksplorasi strategi pengembangan serta inovasi untuk mengoptimalkan proses tersebut. Penelitian ini menggunakan pendekatan kualitatif dengan studi literatur dan studi kasus. Data dan informasi dikumpulkan melalui jurnal, artikel, dan laporan terkait digitalisasi dalam Supply Chain Finance. Analisis dilakukan melalui pendekatan deskriptif untuk memahami dan menginterpretasikan data yang ada. Hasil penelitian menunjukkan bahwa digitalisasi meningkatkan efisiensi operasional dalam Supply Chain Finance melalui otomatisasi proses dan pengambilan keputusan berbasis data. Namun, terdapat tantangan, termasuk investasi awal yang besar dan isu keamanan data. Teknologi seperti AI, Machine Learning, Blockchain, dan big data berkontribusi signifikan dalam efisiensi dan resiliensi Supply Chain. Penelitian ini menyajikan wawasan mengenai penerapan teknologi digital dalam Supply Chain Finance, memberikan pandangan mengenai tantangan yang dihadapi serta strategi yang dapat diterapkan untuk mengatasi tantangan tersebut. Penelitian ini memberikan kontribusi bagi praktisi dan akademisi dalam memahami potensi dan batasan teknologi digital dalam konteks Supply Chain Finance. Kata kunci: Digitalisasi, Supply Chain Finance, Blockchain, Kecerdasan Buatan, Big Dat

Digital Supply Chain Finance Model in Thailand

The chapter aims to study  and to evaluate digital supply chain finance model in Thailand. The samples in the research study consisted of ten purposively selected experts consisted of three experts on supply chain, five experts on Digital Technology and three experts on the finance. Data were analysed by arithmetic mean and standard deviation. The research findings model seven elements namely main components, Buyer, supplier , Bank or Financial Institution. The ten experts agree that digital supply chain finance model in Thailand was high suitability and can be appropriately applied in actual work settings

The Necessity of Digital Technology in the Supply Chain Finance Network Based on Digital Integration

Modern enterprise information consultancy and management firms are evolving with a fresh paradigm. This model emphasizes primary businesses and oversees the capital, data, and logistical operations of small to medium-sized entities. It aims to transform unpredictable risks into manageable supply chain enterprise risks, ensuring the most minimal financial service risks. Additionally, supply chain finance offers a broad spectrum of financial solutions for businesses throughout the supply chain. As technology advances, this has given rise to a novel supply chain financial ecosystem. This network can effectively execute supply chain finance operations. Notably, supply chain finance is inherently a credit-based financing system. Conventional techniques fall short in addressing the trust issues within the financial network of supply chain finance. This study introduces a digital methodology for financial network scrutiny. Initially, computer systems are employed to probe the trustworthiness challenges of the financial network, segmenting indices based on the network's demands to mitigate interfering elements. Subsequently, these systems evaluate the financial trust impacts on the supply chain, establish a financial network blueprint, and undertake a holistic examination of the financial network outcomes. Simulations in MATLAB indicate that, when assessed under specific criteria, the digital technology's financial network trust in supply chain finance surpasses traditional approaches in network reliability

Adoption of Blockchain Technology in Trade Finance Process

The complexity of trade finance instruments associated with need for many accompanying documents, constant coordination are problems of this process. Successful development of trade finance instruments depend on improvement of software and implement blockchain solutions that enable companies to unite and through partnerships and process automation to accelerate cash flow and documentation throughout supply chain. The paper aims to examine areas and ways of blockchain application in trade finance and to identify key aspects of improving transactions process. We present possible interaction of participants with digital letters of credit and factoring with blockchain application and display its effect on key trade finance instruments. Moreover, we identifies a number of problems, implementation solutions of which will lead to further more efficient application of technology in supply chain finance. The achieving these goals will lead to further more effective application of blockchain in financing of supply chain. Blockchain with a high level of functionality and security in trade finance processes reduces processing time for documents, transaction costs, expanding number of participants and increases level of transparency

Research on agricultural supply chain finance supporting sustainable poverty reduction under the background of digital technology

From the perspective of financial services, management services and coordination services, this paper analyzes the internal mechanism of agricultural supply chain finance (ASCF) to help sustainable poverty reduction (SPR). The internal and external driving forces of ASCF for SPR are also explored. Among them, the internal driving forces include industrial upgrading and financial transformation; External driving forces include technological change, policy guidance and market drive. Based on the background of digital technology, the green agricultural supply chain finance (GASCF) model has been innovatively proposed. We mainly analyze the core elements and platform structure of GASCF, and focus on the process design and key points of the three modules of the GASCF platform: risk control port, credit port and capital port. Finally, we analyze the practical difficulties of green agricultural supply chain finance in helping sustainable poverty reduction, such as the lack of comprehensive management ability of the organization, the insufficient application of digital technology, the imperfect institutional environment and the lack of compound talents. And we put forward accordingly a four in one path of GASCF helping SPR, which is Government standardizing and leading, assistance from financial institutions, driven by industry subjects and Co governance of Social Service

the role of memory under the covid-19 outbreak

Alvarenga, M. Z., Oliveira, M. P. V. D., & Oliveira, T. A. G. F. D. (2023). The impact of using digital technologies on supply chain resilience and robustness: the role of memory under the covid-19 outbreak. Supply Chain Management. https://doi.org/10.1108/SCM-06-2022-0217 --- Funding Information: This study was financed in part by the Coordenação de Aperfeiçoamento de Pessoal de Nível Superior – Brasil (CAPES) Finance Code 001. This work was supported by national funds through FCT (Fundação para a Ciência e a Tecnologia) under the project – UIDB/04152/2020 – Centro de Investigação em Gestão de Informação (MagIC).Purpose: This paper’s main aim is to check the mediating effect of supply chain memory in the relationship between using digital technologies and both supply chain resilience and robustness. In addition, the impact of the COVID-19 disruption was tested as a moderator of the impact of supply chain memory on supply chain resilience and robustness. Design/methodology/approach: Altogether, 257 supply chain managers answered the questionnaire, and data were analysed through structural equation modelling. Findings: This paper contributes to theory and practice by demonstrating that the experience, familiarity and knowledge to deal with disruptions partially mediate the relationship between digital technologies, resilience and robustness. Moreover, our results show that memory is less efficient for the supply chain to maintain an acceptable level of performance in case of a new extreme disruptive event like COVID-19. The full model was able to explain 36.90% of supply chain memory, 41.58% of supply chain resilience and 46.21% of supply chain robustness. Originality/value: The study helps to understand how to develop supply chain memory, positioning digital technologies as an antecedent of it. The impact of supply chain memory on supply chain resilience and robustness is proved. Knowledge about the impact of industry 4.0 technologies on disruption management is quantitatively improved. It demonstrates that digital technologies impact resilience and robustness mainly through supply chain memory. The study proves that supply chain memory is less efficient for the chain remains effective when a non-routine disruptive event occurs, but it is still imperative to recover from it.authorsversionepub_ahead_of_prin

Research on the application of smart supply chain finance in the financing of private scientific and technological enterprises in China

Supply chain finance (SCF) has experienced the development stages of offline SCF, online traditional SCF, and Internet SCF, and has developed to the stage of smart supply chain finance (SSCF) driven by digital technology in China. We analyze the theoretical framework of SSCF model from three aspects: loose coupling alliance organizational structure, visual operation and management process and symbiotic multi-agent coordination mechanism. In the financing of private scientific and technological enterprises, SSCF will show smart effects such as intelligent decision-making, harmonious service, penetrating management and digital risk control. Further, the process of SSCF providing financing services for private scientific and technological enterprises is designed. Finally, in view of the problems and challenges faced by private scientific and technological enterprises in the application of SSCF, we put forward countermeasures and suggestions from the aspects of expanding the dimension of smart transformation, building a perfect regulatory system and legal system, and strengthening the cultivation of compound talents in this paper

Analysis of IoT and Blockchain Technology for Agricultural Food Supply Chain Transactions

The Block chain is a peer to peer, distributed ledger in which members must establish consensus to record every new input and transactions that are stored by all members. Over the last decade, block chain technology has grown in popularity, attracting interest from a wide range of industries, including finance, manufacturing, energy, and government sectors, health, and agriculture supply chains, land registrations, and digital identifications (IDs). Block chain facilitates better opportunities and benefits in agriculture, as well as building trust between farmers and consumers and allowing the creation of reliable food supply chains. The Chapter discusses how block chain and smart contracts can improve productivity, transparency, and traceability in agricultural insurance, smart farming, and agricultural food supply chain transactions (AFSC). By applying Block chain agri-food supply chain tracking was made easy and won the trust from different stakeholders, which was a real benefit to the real heroes of the country. The consumer can research the history of a product they are thinking about buying and consume food in their cart, learning about the entire process from planting to harvesting, transporting, and selling. Food fraud may be reduced by using the traceability and integrity of financial information to detect untrustworthy intermediaries and business practices that exploit both independent farmers and cooperatives. The agricultural industry will be transformed by block chain for supply chain management. All phases of the agriculture supply chain are being simplified, enhancing food safety and preventing the sale of counterfeit goods. Access to agricultural finance services for farmers and companies could also be facilitated by the technology. This Paper presents a review and research challenges on the existing block chain based IoT applications in the agriculture domain where maximum research focuses on food supply chain and its security of Internet of things with Block chain. The chapter presents how block chain and smart contracts can increase productivity, transparency and traceability could be very effective in Agricultural insurance, smart farming, transactions of agricultural food supply chains

Blockchain in Oil and Gas Supply Chain: A Literature Review from User Security and Privacy Perspective

Blockchain's influence extends beyond finance, impacting diverse sectors such as real estate, oil and gas, and education. This extensive reach stems from blockchain's intrinsic ability to reliably manage digital transactions and supply chains. Within the oil and gas sector, the merger of blockchain with supply chain management and data handling is a notable trend. The supply chain encompasses several operations: extraction, transportation, trading, and distribution of resources. Unfortunately, the current supply chain structure misses critical features such as transparency, traceability, flexible trading, and secure data storage - all of which blockchain can provide. Nevertheless, it is essential to investigate blockchain's security and privacy in the oil and gas industry. Such scrutiny enables the smooth, secure, and usable execution of transactions. For this purpose, we reviewed 124 peer-reviewed academic publications, conducting an in-depth analysis of 21 among them. We classified the articles by their relevance to various phases of the supply chain flow: upstream, midstream, downstream, and data management. Despite blockchain's potential to address existing security and privacy voids in the supply chain, there is a significant lack of practical implementation of blockchain integration in oil and gas operations. This deficiency substantially challenges the transition from conventional methods to a blockchain-centric approach

Investigating the themes in supply chain finance: the emergence of blockchain as a disruptive technology

Blockchain has gained momentum as a disruptive technology in supply chain management against its introduction as a finance-related instrument. Nevertheless, the developing academic understanding and the limited practical implications lead to insufficient insights into the use of blockchain technology, particularly in the supply chain finance (SCF) domain. Thus, the expected potential of blockchain technology remains underexplored. Accordingly, this study explicates this situation by examining the extant literature findings and web-based big data that can provide evidence about the real needs in supply chains, and investigating how blockchain emerges as a disruptive SCF-oriented technology. The study employs a web analytics method, Search Engine Results Page (SERP) analysis which considers the trends in blockchain technology use and the interactions between blockchain, supply chain and finance appearing in Google searches. The SERP method examined real-time clicks, web traffics and most commonly asked questions about blockchain. The SERP findings revealed that the interest in blockchain technology neither focused on finance nor data privacy as emphasised in the literature but mainly on the benefits of increasing digitalisation and efficiency in supply chains. The results offered practical implications for capturing recent blockchain- and supply chain-related trends and designing more digital and efficient supply chains