ICCG BLOG -3.jpg

Digitizing Supply Chain Finance For Continuity And Scalability

Posted by Harriet Schneider on Jul 8, 2022 12:30:00 AM

When extreme levels of disruption occur, supply chains immediately launch a survival strategy that tends be focused solely on the enterprise, leaving upstream and downstream trading partners to fend for themselves. Whether scrambling to enable remote work opportunities, implement flexible or staggered labor scheduling, or launch multiple capital preservation strategies, organizations have begun employing a variety of strategies to protect their supply chains and weather the storm.

To ensure the health of the overall supply chain network, the urgency to digitize processes and documents that allow both data and capital to be unlocked has become more prevalent than ever—particularly when a complex number of parties, systems, and document across geographical regions and time zones are involved.

ant-rozetsky-SLIFI67jv5k-unsplash (1)

Billions of dollars are tied up in supply chain inventory, but when major crisis occurs, retailers and manufacturers often prioritize the removal of working capital, ultimately placing extreme strain on suppliers that can stretch on for months as organizations wait for disruption to subside. However, access to capital and timely data is essential to long term survival and a thriving economy.

When setbacks occur, stronger collaboration amongst trading partners is a smarter strategy than rushing into panic-instilled overreactions that may result in further uncertainty to supply in the future. A networked, multi-enterprise approach is the natural basis for ongoing resilience: connecting buyers, suppliers and, finance providers on one digital platform where data and working capital is unlocked for the entire supply chain, instead of unilaterally amongst buyers or suppliers.

Digitized documents and processes reduce errors and delays, while enabling additional scalability. Programs are deployed to pay suppliers that help ensure a healthy supply chain, while generating value to all parties involved. As a result, the overall supply chain network has the opportunity to build cohesive resiliency and continuity so that when inevitable disruption occurs, all parties are confident in their ability minimize negative impacts.

And, as always, contact ICCG to help provide you with insight and information. Schedule a complimentary consultation to review your questions.


Topics: ERP, Fashion & Retail, Distribution, Supply Chain, Fashion & Apparel, Supply Chain Visibility, Supply Chain Network, Cloudsuite Fashion & Apparel, Infor CloudSuite PLM for Fashion, Infor CloudSuite Fashion PLM, Enterprise Software, Retail Supply Chain, Infor CloudSuite Fashion, Supply Chain Operations, Supply Chain Management, Infor CloudSuite M3, Infor CloudSuite ERP

About ICCG

Welcome to our Blog - ICCG Insights!

Embracing thought leadership as a pathway for growth, represents the true spirit of progressive change that will make a difference in technology-driven industries. As a consulting company, ICCG customers look to us as their value-added resource. They expect us to be proactive about solving their immediate challenges and we don’t take that responsibility lightly. It is this that drives us to share our best practices, knowledge-base, years of experience, and tried and true methodologies. These have been the hallmarks of our corporate brand.

Subscribe to Email Updates

Recent Posts

Posts by Topic

see all