Purpose

The more common approaches used in supply chain management (SCM) consider only the physical logistic operations and ignore the financial aspects of the supply chain (SC). The main objective to incorporate financial aspects in SCM is to strengthen managerial decisions concerning financial flows in SCs. This paper aims to present a model for financial supply chain management (FSCM) in which financial planning in addition to operation planning is decided.

Design/methodology/approach

Approaches for FSCM are traditional financial approach and new financial approach. The traditional financial approach integrates physical goods flows and financial flows. The new financial approach considers in making decisions other financial indicators such as market to book value, liquidity ratios, capital structure ratios, stock security ratios, sales margin and return on equity. Moreover, the new approach applies the change in equity instead of the traditional approach measures of profit as the objective function to be maximized in the presented model. To show the attributes of the presented approaches, the results of the new approach and the traditional approach are compared.

Findings

The findings of this paper indicate that the traditional approach leads to a lower change in equity compared to the new approach. Also, the results reveal the better improvement of using the new approach over the traditional approach and convince the decision-makers to take advantage of the new approach.

Research limitations/implications

Empirical knowledge about FSCM is in its early stages.

Originality/value

The main contribution of this paper is to define two approaches for FSCM and to compare them.

中文翻译：

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具有两种不同财务方法的金融供应链管理模型

目的

供应链管理 (SCM) 中使用的更常见方法仅考虑物理物流操作，而忽略供应链 (SC) 的财务方面。将财务方面纳入 SCM 的主要目标是加强有关 SC 中资金流动的管理决策。本文旨在提出一种金融供应链管理 (FSCM) 模型，在该模型中，除了运营计划外，还要确定财务计划。

设计/方法/方法

FSCM 的方法是传统的财务方法和新的财务方法。传统的金融方法整合了实物商品流和资金流。新的财务方法在做出决策时会考虑其他财务指标，例如市值与账面价值、流动性比率、资本结构比率、股票安全比率、销售利润率和股本回报率。此外，新方法应用权益的变化而不是传统的利润方法作为目标函数，以在所提出的模型中最大化。为了显示所提出方法的属性，比较了新方法和传统方法的结果。

发现

本文的研究结果表明，与新方法相比，传统方法导致的公平性变化较小。此外，结果表明使用新方法比传统方法有更好的改进，并说服决策者利用新方法。

研究限制/影响

关于 FSCM 的经验知识还处于早期阶段。

原创性/价值

本文的主要贡献是为 FSCM 定义两种方法并对其进行比较。