Financial Supply Chain & its Implementation in the Banking Sectors of Bangladesh
Mohammad Ekramol Islam *
Department of Business Administration, Northern University Bangladesh, Bangladesh.
Prince Das
Department of Business Administration, Northern University Bangladesh, Bangladesh.
Mahbub A. Alam
Software Operation, ICT Division, Bank Asia Ltd., Bangladesh.
MD. Abu Hanif
Sonargaon University, Bangladesh.
*Author to whom correspondence should be addressed.
Abstract
A drastic changing scenario is observed to manage Financial Supply Chain all over the "World" except Bangladesh. A few Banks or financial institutions in Bangladesh are implementing the concepts of Financial Supply Chain Management to provide benefits to the buyers (Anchors) and suppliers (Vendors). We explored the benefits and challenges of FSC from the management perspective of Bangladesh. The researchers made an effort to support our findings through a case study involving three parties: Bank Asia, Banga Millers limited (a sister concern of PRAN Company), and marginal suppliers. The researchers establish that trios can benefit if a strong Financial Supply Chain system can be established with the help of the latest computer software like VEEFIN. Researchers are aware of the fact that technology makes data transparent and does transaction settlement more successfully. The main objective of this paper is to discover the loopholes and challenges to popularizing the concept of Financial Supply Chain Management in Bangladesh's perspective, to search for benefits for the stakeholders on account of implementing a Financial Supply Chain, and also to find out the potentiality of FSC in Bangladesh perspective in the coming years. The Researchers also made a forecast to identify the amount of disbursement through the Banks or financial institutions five years later to explore the scenario of FSC flow and found that the disbursement amount will be equivalent to twenty core takas by using the least square method. The findings of this research can help financial institutions and banks in favor to introduce the Financial Supply Chain in their organization to provide better services and enhance customer satisfaction.
Keywords: Financial supply chain, anchor, VEEFIN software, optimum working capital, procurement process
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References
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