Date Added: Sep 2009
Over the last 20 years, companies have leveraged advanced management science and process improvement techniques to radically transform their physical supply chains. Side by side, there has been the revolution in information technology and the internet, resulting in even larger leaps in their information supply chain. However, little attention has been paid to improvements in the associated financial supply chains. While forecasts and documents are exchanged in real time and more products are being delivered within 24 hours of order, it still takes 30-45 days or more to settle the associated financial transactions, virtually unchanged from 20 years ago.