[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/pcz/alspcz/v5y2011i1p101-111.html
   My bibliography  Save this article

The Financial Supply Chain Management: A Response To The New Economy – Crisis And Recession Economy

Author

Listed:
  • Virgil Popa

    (Valahia University of Târgoviºte, Romania)

  • Leonardo Badea

    (Valahia University of Târgoviºte, Romania)

  • Mãdãlina Barna

    (Valahia University of Târgoviºte, Romania)

Abstract
Supply chain- all the organizations and processes which refer to products and services from the view of buying organization. Typically covers everything related to raw materials and ingredients to consume. Supply chain management includes planning and the management of all activities engaged in supply and procurement, also conversion of all the logistics management activities. The ensemble of organizations, processes and informational activities, of products and financial funds is targeted to meet the satisfaction of the final consumer which is the determinant actor. Performance management is a continuous and evolutionary process in which personal skills and organizational parameters are improved over a period of time and its purpose increases individual and organizational effectiveness. Globalization and the intensity of competition for both large and small organizations has created an environment where there is relentless pressure to reduce the cost of sales and improve customer service. Financial Supply Chain Management (FSCM) is the management of the cash flowing between parties within the supply chain, whether in the form of a payment or short-term finance. The focus is on the average cost of working capital or finance for the total supply chain and working out how to reduce finance costs across the entire chain. One approach to FSCM is to calculate all finance-related costs embedded within the end-to-end supply chain and determine how best to reduce them without redistributing risk to the weaker members. Reengineering of the Supply Chain became in stages: reorganization of key processes, analysis of work processes, and amelioration of processes.

Suggested Citation

  • Virgil Popa & Leonardo Badea & Mãdãlina Barna, 2011. "The Financial Supply Chain Management: A Response To The New Economy – Crisis And Recession Economy," Advanced Logistic systems, University of Miskolc, Department of Material Handling and Logistics, vol. 5(1), pages 101-111, December.
    • Handle: RePEc:pcz:alspcz:v:5:y:2011:i:1:p:101-111
    as

    Download full text from publisher

    File URL: http://www.als.zim.pcz.pl/files/THE-FINANCIAL-SUPPLY-CHAIN-MANAGEMENT-A-RESPONSE-TO-THE-NEW-ECONOMY---CRISIS-AND-RECESSION-ECONOMY.pdf
    Download Restriction: no
    File URL: http://www.als.zim.pcz.pl/chapter-1---theoretical-logistic-researches-4.php
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pcz:alspcz:v:5:y:2011:i:1:p:101-111. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Paula Bajdor (email available below). General contact details of provider: https://edirc.repec.org/data/wzpczpl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.