Intelligent matching: integrating efficiencies in the financial supply chain

2005 ◽  
Vol 10 (4) ◽  
pp. 244-248 ◽  
Author(s):  
Alea Fairchild
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Case Studies ◽  
Information Flow ◽  
Financial Services ◽  
Future Research ◽  
Financial Services Industry ◽  
Exploratory Research ◽  
Content Type ◽  
Services Industry

PurposeThe purpose of this paper is to develop a better understanding of supply chain management in the financial services industry by examining information flow in improving efficiencies (i.e. material, information, capital, etc.) via intelligent matching.Design/methodology/approachThe objective was to address the issues specific to financial services organizations in intelligent matching, examining organizational, technological and application aspects. In order to address these issues, we have utilized an exploratory research methodology, based on a literature review and some initial case studies.FindingsDrivers for intelligent matching solutions have been suggested in this research to include the ability to link financial matching activities to other supply chain activities. Further integration of business processes, both within and between enterprises, will require both human and computational intelligence to approach efficiencies in automation.Research limitations/implicationsSupply chain efficiencies enabled by financial products and information give organizations greater visibility over their receivables, working capital needs, and overall financial position. Limitations of this research include a small sampling of case studies; future research will include a wider scope of cases as to test the findings.Practical implicationsInteroperability of information between the physical movement of goods and financial information within supply chains is key to realizing cost‐reduction and revenue‐enhancement advantages.Originality/valueThis paper discusses a potential area for extending our understanding of supply chains and the role of information flow in improving efficiencies, especially in the financial services industry.

scholarly journals Disclosure effectiveness in the financial planning industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Daniel W. Richards ◽  
Maryam Safari
Keyword(s):  
Financial Planning ◽  
Financial Services ◽  
Conflicts Of Interest ◽  
Influential Factors ◽  
Future Research ◽  
Financial Services Industry ◽  
Content Type ◽  
Disclosure Requirements ◽  
Financial Planners ◽  
Services Industry

Purpose Scandals in the Australian financial services industry highlight the conflicts of interest between those who provide financial advice (financial planners) and their clients. Disclosure is a potential governance tool to manage these conflicts of interest by reducing asymmetries in information. Yet, the efficacy of disclosure is questionable as scandals persist, so this paper aims to research the effectiveness of disclosure in financial planning. Design/methodology/approach This research used a qualitative approach involving the triangulation of data from parliamentary inquiries in financial services with data collected in semi-structured interviews with financial planning professionals. Findings The findings draw a clear portrayal of the disclosure requirements and illustrate how disclosure processes are onerous and complex. Starting with detangling the complex interactions between the beneficial role of disclosure in reducing information asymmetry and unethical behaviour and the detrimental effect of information overload, the authors then highlight effective disclosure techniques used by financial planners, including visualisation of material information. The study reveals that financial planners perceive their role as filtering information for clients and ensuring clients’ comprehension, due to the onerous disclosure requirements. Research limitations/implications The study is of interest to researchers, practitioners, policymakers and society as it implies that how disclosure occurs is as important as what information is disclosed. Those who wish to foster effective disclosure in the financial services industry need to consider the quantity, quality and process of disclosure. A limitation is the research focusses on financial planning practices and not client outcomes, which could be considered in future research. Originality/value The study adds to the understanding of how disclosure is used as a governance tool and how the quantity of information may impede the effectiveness of disclosure in the financial planning industry. In addition, the study identifies and elaborates on the influential factors and best practices for enhancing the disclosure effectiveness by financial planners.

Supplier audits during COVID-19: a process perspective on their transformation and implications for the future

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Pavel Castka ◽  
Xiaoli Zhao ◽  
Phil Bremer ◽  
Lincoln C. Wood ◽  
Miranda Mirosa
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Qualitative Interviews ◽  
Internal Audit ◽  
Future Research ◽  
Exploratory Research ◽  
Audit Process ◽  
Content Type ◽  
The Future ◽  
Process Perspective

PurposeAudits are an essential part of supply chain management, whether they be of a single supplier's facilities or the whole supply chain. Before the COVID-19 pandemic, auditors mainly conducted supplier audits in-person and on-site. Subsequent travel restrictions have meant that auditors have had to perform these audits remotely. The purpose of this paper is to conceptually describe the emerging phenomenon of remote audits and explore the implications of this change for the future.Design/methodology/approachThis exploratory research used qualitative interviews with key stakeholders (firms, auditors and regulators) to provide an empirical basis for the study. A total of 60 interviews were conducted in two rounds with 40 respondents from 26 organizations. A process perspective lens was used to explore the fundamental changes in supplier audits.FindingsThe study provides an interpretative conceptual framework of remote supplier audits grounded in key factors (audit process, use of technologies, document and record sharing) and identifies a set of contingency factors (technological sophistication, reputation for integrity, maturity of internal audit processes, and level of complexities and risk involved) that affect the effectiveness of remote audits.Originality/valueRemote supplier audits have radically changed how supply chains operate. This paper presents the first empirically-grounded study on remote auditing. It provides a springboard for future research in this domain and practical implications for managers to assist them with the development of remote auditing in their firms and supply chains.

Supply chain resilience

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Cutting Edge ◽  
Content Type ◽  
Supply Chain Resilience ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings COVID-19 has had a dramatic and damaging effect on supply chains and distributors. This briefing considers why, and what strategies there may be to cope. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Relationships between Information Security Concerns and National Cultural Dimensions

2011 ◽  
pp. 134-153
Author(s):  
Princely Ifinedo
Keyword(s):  
Information Security ◽  
Financial Services ◽  
Cultural Dimensions ◽  
Future Research ◽  
Financial Services Industry ◽  
Current Effort ◽  
Corporate Managers ◽  
Security Issues ◽  
Services Industry ◽  
Security Concerns

This study investigates the relationships between the contextual factor of national culture and information security concerns in the global financial services industry (GFSI). Essentially, this study attempts to expand the breath of information provided in the recent 2009 Deloitte Touche Tohmatsu (DTT) survey, which reported such issues in the financial services industry. The inference from the 2009 DTT survey was that information security concerns across GFSI are being informed solely by industry-related standards or imperatives. As such, perceptions and attitudes towards such issues were thought to remain unchanged in differing contexts. Results from this study’s analysis showed that the perceptions of information security concerns in GFSI compared reasonably well, but also varied by some national cultural attributes to debunk such a claim. Corporate managers in the industry may benefit from this research’s findings as they formulate country-wide information security policies and strategies. As well, insights from this current effort indicate that it would be erroneous for practitioners to accept that entities in the financial services hold exactly the same view on information security issues in their industry. Future research avenues are discussed.

Strategic capabilities for managing risks in supply chains: current state and research futurities

2019 ◽  
Vol 17 (2) ◽  
pp. 173-211 ◽  
Author(s):  
Vishnu C.R. ◽  
R. Sridharan ◽  
Angappa Gunasekaran ◽  
P.N. Ram Kumar
Keyword(s):  
Supply Chain ◽  
Literature Review ◽  
Supply Chains ◽  
Future Research ◽  
Content Type ◽  
Efficiency And Effectiveness ◽  
Strategic Capabilities ◽  
And Performance ◽  
Potential Methods ◽  
Supply Chain Risks

Purpose The purpose of this paper is to investigate the distinction and relationships between the significant strategic capabilities for managing risks in supply chains. This intersectional review exposes a substantial conceptual contradiction between the perspectives reported by various researchers. Further, the current paper classifies the literature into four categories according to the broad objectives investigated by the research papers. Design/methodology/approach Initially, a bibliometric analysis aligned with the concepts of a systematic literature review is conducted followed by a descriptive review focusing on models and methods. The software called BibExcel is utilized to extract and analyze the bibliographic information in a textual form from the research articles associated with strategic capabilities of the logistics sector. The results are exported to the software known as Gephi to visualize keyword co-occurrence analysis as networks. A well-structured descriptive review is also conducted to identify avenues for future research. Findings Despite conventional supply chain capabilities like efficiency and effectiveness, eight significant strategic capabilities of supply chains for managing risks are identified from the literature. These capabilities with positive connotations include flexibility, reliability, resilience, robustness, agility, adaptability, alignment and responsiveness. Considering the vast literature on flexibility/reliability along with its numerous dimensions and scope, the authors found that resilience, robustness, agility, adaptability, alignment and effectiveness are achievable through flexibility/reliability. Accordingly, it is appropriate to state reliability and flexibility as supply chain capabilities to achieve the other six supply chain competencies. Furthermore, the entire literature in this domain can be classified into four genres according to the addressed objectives, namely, concept development/validation, capability assessment, network design and performance evaluation. Research limitations/implications The information revealed from the keyword co-occurrence analysis along with the research implications provided in the penultimate section will assist budding researchers in framing novel and promising research objectives. Supply chain administrators and policymakers can utilize the literature classification and the notable references provided in this review for locating potential methods for assessing supply chain strategic capabilities, designing the supply chain and evaluating the performance of the supply chain. Originality/value An integrated bibliometric and descriptive literature review procedure is utilized in this paper. Furthermore, this critical review is the first work on comprehensively mapping the research relationships among various strategic capabilities required for mitigating supply chain risks.

Supply chain resilience: a systematic literature review and typological framework

2018 ◽  
Vol 48 (8) ◽  
pp. 842-865 ◽  
Author(s):  
Cigdem Gonul Kochan ◽  
David R. Nowicki
Keyword(s):  
Supply Chain ◽  
Literature Review ◽  
Systematic Literature Review ◽  
Future Research ◽  
Exploratory Research ◽  
Content Type ◽  
Supply Chain Resilience ◽  
Assessment Techniques ◽  
Practical Implications

PurposeThe study of supply chain resilience (SCRES) continues to gain interest in the academic and practitioner communities. The purpose of this paper is to present a focused review of the SCRES literature by investigating supply chain (SC) capabilities, their relationship to SCRES outcomes and the underpinning theoretical mechanisms of this relationship.Design/methodology/approachThe paper uses the systematic literature review approach to examine 383 articles published between 2000 and 2017, ultimately down selecting to the most relevant 228 peer-reviewed studies. Context-interventions-mechanisms-outcomes (CIMO) logic is applied to organize and synthesize these peer-reviewed studies. A typological framework is developed from the CIMO-based classification of the SCRES literature.FindingsThe findings of this study outline the gaps in the SCRES literature and present an agenda for future research.Research limitations/implicationsThis paper presents an exploratory research; therefore, the typological model presented is just one of the possible perspectives.Practical implicationsThe typology of SCRES literature can help practitioners to understand SCRES and to measure and assess the resilience of SCs.Originality/valueThe paper provides clear definitions of SCRES constructs, develops a typological framework to further understand SCRES and identifies SCRES measures and assessment techniques.

scholarly journals A decade of supply chain collaboration and directions for future research

2015 ◽  
Vol 20 (6) ◽  
pp. 613-630 ◽  
Author(s):  
Claudine Antoinette Soosay ◽  
Paul Hyland
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Holistic Approach ◽  
The Body ◽  
Future Research ◽  
Supply Chain Collaboration ◽  
Content Type ◽  
Humanitarian Supply Chains ◽  
The Past ◽  
Body Of Knowledge

Purpose – This paper aims to conduct a systematic review of the literature on supply chain collaboration published over a 10-year period from 2005 to 2014. It explores the nature and extent of research undertaken to identify key themes emerging in the field and gaps that need to be addressed. Design/methodology/approach – The authors review a sample of 207 articles from 69 journals, after using an iterative cycle of defining appropriate search keywords, searching the literature and conducting the analysis. Findings – Key themes include the meaning of collaboration; considerations for supply chain collaboration theory; emerging areas in collaboration for sustainability, technology-enabled supply chains and humanitarian supply chains; and the need for a more holistic approach, multi-tier perspectives and research into B2C collaborations. Research limitations/implications – The paper provides discussion and scope for future research into the area which would contribute to the field tremendously. Originality/value – There have been very few reviews in the past on supply chain collaboration, and this is one of the first extensive reviews conducted to address how well the body of knowledge on supply chain collaboration corresponds with our contemporary society.

scholarly journals Corona virus, tariffs, trade wars and supply chain evolutionary design

2020 ◽  
Vol 40 (10) ◽  
pp. 1649-1660 ◽  
Author(s):  
Robert B. Handfield ◽  
Gary Graham ◽  
Laird Burns
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Case Studies ◽  
Bullwhip Effect ◽  
Global Supply Chain ◽  
Global Supply Chains ◽  
Chain Management ◽  
Content Type ◽  
Constructal Law ◽  
The Usa

PurposeUsing the constructal law of physics this study aims to provide guidance to future scholarship on global supply chain management. Further, through two case studies the authors are developing, the authors report interview findings with two senior VPs from two multi-national corporations being disrupted by COVID-19. This study suggests how this and recent events will impact on the design of future global supply chains.Design/methodology/approachThe authors apply the constructal law to explain the recent disruptions to the global supply chain orthodoxy. Two interviews are presented from case studies the authors are developing in the USA and UK – one a multi-national automobile parts supplier and the other is a earth-moving equipment manufacture. Specifically, this is an exploratory pathway work trying to make sense of the COVID-19 pandemic and its impact on supply chain scholarship.FindingsAdopting the approach of Bejan, the authors believe that what is happening today with COVID-19 and other trade disruptions such as Brexit and the USA imposing tariffs is creating new obstacles that will redirect the future flow of supply chains.Research limitations/implicationsIt is clear that the COVID-19 response introduced a bullwhip effect in the manufacturing sector on a scale never-before seen. For scholars, the authors would suggest there are four pathway topics going forward. These topics include: the future state of global sourcing, the unique nature of a combined “demand” and “supply shortage” bullwhip effect, the resurrection of lean and local production systems and the development of risk-recovery contingency strategies to deal with pandemics.Practical implicationsSupply chain managers tend to be iterative and focused on making small and subtle changes to their current system and way of thinking, very often seeking to optimize cost or negotiate better contracts with suppliers. In the current environment, however, such activities have proved to be of little consequence compared to the massive forces of economic disruption of the past three years. Organizations that have more tightly compressed supply chains are enjoying a significant benefit during the COVID-19 crisis and are no longer being held hostage to governments of another country.Social implicationsAn implicit assumption in the press is that COVID-19 caught everyone by surprise, and that executives foolishly ignored the risks of outsourcing to China and are now paying the price. However, noted scholars and epidemiologists have been warning of the threats of pandemics since the severe acute respiratory syndrome (SARS) virus. The pundits would further posit that in their pursuit of low-cost production, global corporations made naive assumptions that nothing could disrupt them. Both the firms the authors have interviewed had to close plants to protect their workforce. It was indicated in the cases the authors are developing that it is going to take manufacturers on average one month to recover from 4–6 days of disruption. These companies employ many thousands of people, and direct and ancillary workers are now temporarily laid off and face an uncertain future as/when they will recover back to normal production.Originality/valueUsing the constructal law of physics, the authors seek to provide guidance to future scholarship on global supply chain management. Further, through two case studies, the authors provide the first insight from two senior VPs from two leading multi-national corporations in their respective sectors being disrupted by COVID-19. This study is the first indication to how this and recent disruptive events will impact on the design of future global supply chains. Unlike the generic work, which has recently appeared in HBR and Forbes, it is grounded in real operational insight.

Management of supply chains with attribute-sensitive products: a comprehensive literature review and future research agenda

2020 ◽  
Vol 31 (4) ◽  
pp. 885-903
Author(s):  
Mehdi Amini ◽  
Carol C. Bienstock ◽  
Mihalis Golias
Keyword(s):  
Content Analysis ◽  
Supply Chain ◽  
Literature Review ◽  
Supply Chains ◽  
Barometric Pressure ◽  
The State ◽  
Future Research ◽  
Content Type ◽  
Link Type ◽  
Comprehensive Literature Review

PurposeMismanagement of supply chain operations may lead to waste of products and incur substantial monetary losses. This is particularly true for products with attributes that hasten deterioration, e.g. time, temperature, humidity and barometric pressure. Attribute-sensitive products must be carefully monitored throughout all supply chain processes to ensure acceptable quality to the end customers. This paper presents a comprehensive review of the scientific literature on attribute sensitive products and on attribute sensitive supply chains. The collected studies were reviewed using the content analysis method, focusing on the following aspects of attribute sensitive products: (1) industries; (2) product categories; (3) decisions involved; (4) processes; (5) current issues; (6) sustainability concerns; (7) research methods used; (8) objectives of decision makers; (9) solution approaches used; (10) incentives driving management and (11) future research issues. Based on the analysis of findings, gaps are identified, and future research directions are proposed.Design/methodology/approachLiterature review and content analysis.FindingsThe authors discovered that, while the importance of product attributes vary from one industry to the other, overall the time attribute was critical in all of the industries considered in this literature review. Coordination, customer satisfaction, reliability and safety were key issues in attribute sensitive product supply chains (asp-SCs). Similar to the typical supply chains, asp-SCs face economic, social and environmental sustainability issues. However, the majority of the studies in our analysis emphasized importance of the social sustainability. The majority of the papers were reviewed and analyzed and adopted the modeling approach as a research method. Furthermore, it was found that asp-SCs were mostly driven with customer demands and social pressure.Research limitations/implicationsBased on the literature review and content analysis, there are a number of directions for the work conducted in this study to be extended in several directions. First, the literature search could be expanded by relaxing some of the restrictions (e.g. include the conference papers and articles from on-line business journals). Second, additional scientific publishers can be considered (e.g. Emerald Insight–www.emeraldinsight.com; Inderscience–www.inderscience.com). The latter two extensions would allow a more precise assessment of published to date work on asp-SC operations. Third, our findings could be validated based on interviews with professionals and executives from companies dealing with asp-SCs. Such validation will allow identification of the differences between the state of the art and the state of practice.Practical implicationsSupply chains that handle attribute sensitive products (asps) must consider the complexity of products that significantly change their properties due to factors such as time, temperature, barometric pressure, humidity. Mismanagement of operations within such supply chains may lead to significant product waste, as well as substantial monetary losses.Originality/valueThis study presented a comprehensive literature review and content analysis of studies dealing with asps in the following industries: fashion, food, healthcare, humanitarian and pharmaceutical industries

The effects of IFRS adoption and firm size on audit fees in financial institutions in Ghana

2019 ◽  
Vol 32 (3) ◽  
pp. 436-453
Author(s):  
William Coffie ◽  
Ibrahim Bedi
Keyword(s):  
Financial Institutions ◽  
Firm Size ◽  
Financial Services ◽  
Audit Fees ◽  
Financial Services Industry ◽  
Content Type ◽  
Listed Firms ◽  
Ifrs Adoption ◽  
Services Industry ◽  
The Cost

Purpose This study aims to investigate the effects of international financial reporting standards (IFRS) adoption and firm size on auditors’ fees determination in the Ghanaian financial industry. Design/methodology/approach The authors use the annual report of 52 listed and non-listed firms spanning from 2003 to 2014. Guided by the hypotheses, the authors conditioned audit fees on IFRS adoption and firm size and execute robust fixed effects panel regression. Findings The results show that IFRS adoption has a positive coefficient with audit fees suggesting that the adoption of IFRS, indeed, increases the audit fees paid by banks and insurance firms, as well as the industry as a whole. The results are consistent with the idea that IFRS adoption increases auditor efforts with respect to time and complex nature of some aspect of the standards. Again, as expected, the coefficient of size is positively and significantly related to audit fees. This indicates that the size of the auditee plays a vital role in determining audit fees. Research limitations/implications The study is limited by industry (i.e. the financial services industry) and geography (i.e. Ghana). The authors propose further research that will widely consider other sectors and countries to improve the current scanty literature in this area. Besides, theoretically, the study is limited to the lending credibility theory and feels compelled to reiterate the importance of considering alternative theoretical perspective(s) in future research. Practical implications This study is significant to practitioners as it demonstrates the importance of the determinants of the auditors’ fees. It helps auditors to apply the relevant charging formula when determining audit fees, while it helps managers to improve upon the quality of reporting to control audit bill and forecasting their audit expenditure. Originality/value The results of the study extend the literature on the cost side of IFRS adoption by investigating the financial services industry and non-listed firms in a new context, i.e. a developing country where this research is uncharted. The existing studies based their analysis on either cross-section or pooled analysis and shorter post-adoption period (Cameran and Perotti, 2014). However, using an extended post-adoption period data, the authors base the study on analytical panel model, which directly examine the cost side of IFRS adoption with size as joint key explanatory variables with emphasis on financial institutions and external auditors.

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