Over the past few years, the impact of globalization, amongst other things, has also been seen on Supply Chain. It’s not restricted to one place or country, rather, Supply Chain function has also spread its wings across countries. This change has affected the entire working of businesses. The change in supply chain has also affected the finance department of the firms. It has to adopt its practices to comply with these changes.
Now, a new era of supply chain is on its rise i.e. Digital Supply Networks. Be it the use of robots or 3-D printing, ‘digital’ is the key word. Once again, its impact on the finance team is huge. This impact has been discussed by David Axson and Gary Hanifan in their article on IndustryWeek. They state the following 3 major effects:
- Release of working capital
- Improved forecasting
- New control philosophy
But the big question is- Are the CFOs and their finance teams ready for this?
To know more, please visit the following link:
http://www.industryweek.com/finance/finance-ready-demands-digital-supply-chains