Corporate governance
Supply chain
Accounting information system
Supply chain risk management
Misappropriation
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Financial management plays a crucial role in creating supply chain resilience. As supply chains face various disruptions such as pandemics, natural disasters, and financial crises, finance can contribute to building resilience by integrating with supply chain management activities and addressing financial aspects. Finance can facilitate the advancement of enterprise value by resolving economic dilemmas and increasing leverage. Additionally, financial service innovations and supply chain finance can enhance supply chain resilience . Accounting information systems (AIS) and blockchain technology can be used to monitor accounting activities, trace theft or misappropriation, and govern corporate operations, thereby preventing fraud and enhancing supply chain resilience . Supply chain governance (SCG) and supply chain finance (SCF) have a significant impact on supply chain resilience, with SCF mediating the relationship between SCG and resilience. Digital technology adoption (DTA) also moderates the relationship between SCG and SCF, further enhancing supply chain resilience . Financial resiliency focuses on efficiently deploying financial resources and investing in maintenance and reconstruction strategies, accelerating the recovery process and reducing degradation, making it an essential tool for supply chain resilience .
Related Questions
What are the key factors that contribute to supply chain resilience?5 answersSupply chain resilience is influenced by several key factors. One important factor is the exploitation and exploration of resources and capabilities, which contribute to organizational learning and knowledge management. Another factor is the ecocentricity perspective, which emphasizes the role of secondary stakeholders in improving supply chain resilience. Supply chain collaboration and adaptive capability also play a significant role in enhancing supply chain resilience. Additionally, flexibility in sourcing and order fulfillment, capacity, adaptability, visibility, and collaboration are identified as capability factors that can reduce vulnerabilities in the supply chain. Information sharing with suppliers is highlighted as the most prominent factor for supply chain resilience. These factors, including exploitation and exploration, ecocentricity, collaboration, adaptive capability, and information sharing, contribute to the overall resilience of the supply chain.What is the importance of resilience for supply chain management?5 answersResilience is of utmost importance in supply chain management. It has gained significant attention due to major disruptions like the COVID-19 pandemic and wars, which have highlighted the need for actions to minimize the impacts of such events. Resilience allows supply chains to effectively handle crises by ensuring decentralized decision-making and minimizing bureaucratic hindrances. Studies have shown that supply chain resilience can promote supply chain performance, and supply chain integration plays a partial mediating role in this relationship. The construction of resilient and integrated supply chains is crucial in the face of increasing environmental uncertainty and complexity. Resilience enables supply chains to overcome logistics obstacles caused by war and other crises, making it a strategic capability for supply chain management. Overall, resilience is essential for supply chain management to adapt, respond, and recover from disruptions, ensuring the smooth functioning of supply chains.What are definitions of supply chain resilience?5 answersSupply chain resilience refers to the ability of a supply chain to withstand and recover from disruptions while maintaining its functionality and performance. It involves generating actions to minimize the impacts caused by disruptive events and has become a strategic capability of the supply chain. Resilience in the supply chain has evolved over time, and a new definition integrating different aspects has been proposed. It is essential to have a performance measurement framework that includes both sustainability and resilience indicators, exploiting synergies between the two concepts. Supply chain disruptions are unplanned and unanticipated events arising from external and internal factors, and organizations are restructuring their supply chains to mitigate risks and build resilience. Supply chain resilience management involves a systematic approach to analyzing threats, defining measures to reduce them, and testing and improving the established system. Developing resilient supply chains requires considering factors such as location, size, structure, and operation of supply networks.How can funding strategies be used to enhance supply chain resilience?5 answersFunding strategies can be used to enhance supply chain resilience by providing financial resources to implement measures that improve redundancy and robust supplier relationships. These strategies can include maintaining safety stock levels, diversifying transportation modes, strategically locating distribution centers, and collaborating with backup suppliers. Additionally, proactive change management processes can be leveraged to enhance resilience by facilitating smooth transitions and faster recovery from disruptive events. Logistics capabilities, such as digitalization, innovativeness, and modularization, can also contribute to supply chain resilience, with government policies, risk management culture, trust, and cooperation acting as positive moderators. Furthermore, developing a resilient supply chain strategy requires considering strategies such as agility, adaptability, and effective response strategies, especially in times of acute crisis.How does supply chain resilience impact operational performance in supply chains?5 answersSupply chain resilience has a positive impact on operational performance in supply chains. It has been found that supply chain resilience can promote supply chain performance, and this relationship is mediated by supply chain integration. However, the moderating effect of supply chain network complexity on the relationship between supply chain resilience and performance is negative. Supplier resilience and the usage of information technology are also important factors in achieving a resilient supply chain and improving performance. Additionally, supply chain digitalization can enhance supply chain resilience and performance, with different resilience capabilities playing different roles in achieving better performance. Overall, supply chain resilience is crucial for improving operational performance in supply chains, and factors such as supply chain integration, network complexity, supplier resilience, and digitalization play important roles in this relationship.How can procurement strategies be used to achieve supply chain resilience?3 answersProcurement strategies can be used to achieve supply chain resilience by implementing procurement digitalization, effective information sharing, and SC risk management. Procurement digitalization, through data analytics and digital process maturity, increases information-processing capacities and reduces uncertainty in the supply chain (SC). This requires effective information sharing among SC partners and SC risk management to improve SC resilience (SCRES). Additionally, maintaining safety stock levels, diversifying transportation modes, strategic distribution center locations, and collaborating with backup suppliers contribute to enhancing supply chain resilience. Strengthening robust supplier relationships through effective communication, collaborative planning, aligning goals, and fair and ethical treatment is also crucial for supply chain resilience. By implementing these strategies, companies can promote resilience in their supply chains and effectively manage disruptions.
