Financial Supply Chain Management- Elements and other Details
Industries all over the world have been taking those extra steps to take their products and services to customers. Manufacturers like to term this as a supply chain, a term that encompasses different processes, people, and more, involving the transfer of goods and services from the manufacturer to the customer. In a similar manner, trade service has to take care of a supply chain that’s entirely devoted to the financial nature of transactions. This is what financial supply chain management entails. Financial supply chain management- What is it? Financial supply chain management or FSCM refers to the process of analyzing financial processes taking place in a comprehensive manner and not looking at them as individual processes. The financial supply chain management process entails steps like working capital management, procure-to-pay cycles, and order-to-cash cycle business. The goal of financial supply chain management is to ensure achievement and take care of the vis...