1,600
Views
5
CrossRef citations to date
0
Altmetric
Research Article

The impact of payment term extensions on the working capital management of an automotive supply chain

, &
Pages 7360-7383 | Received 12 Jul 2021, Accepted 02 Apr 2022, Published online: 30 Apr 2022

References

  • Amin, S. H., G. Zhang, and P. Akhtar. 2017. “Effects of Uncertainty on a Tire Closed-Loop Supply Chain Network.” Expert Systems with Applications 73: 82–91.
  • Azadi, M., Z. Moghaddas, R. Farzipoor Saen, and F. K. Hussain. 2021. “Financing Manufacturers for Investing in Industry 4.0 Technologies: Internal Financing vs. External Financing.” International Journal of Production Research, 1–17. doi:10.1080/00207543.2021.1912431.
  • Bals, C. 2019. “Toward a Supply Chain Finance (SCF) Ecosystem–Proposing a Framework and Agenda for Future Research.” Journal of Purchasing and Supply Management 25 (2): 105–117.
  • Caniato, F., L. M. Gelsomino, A. Perego, and S. Ronchi. 2016. “Does Finance Solve the Supply Chain Financing Problem?” Supply Chain Management: An International Journal 21 (5): 534–549.
  • Chakuu, S., D. Masi, and J. Godsell. 2019. “Exploring the Relationship Between Mechanisms, Actors and Instruments in Supply Chain Finance: A Systematic Literature Review.” International Journal of Production Economics 216: 35–53.
  • Chen, X., G. Cai, and J. S. Song. 2019. “The Cash Flow Advantages of 3PLs as Supply Chain Orchestrators.” Manufacturing & Service Operations Management 21 (2): 435–451.
  • Devalkar, S. K., and H. Krishnan. 2019. “The Impact of Working Capital Financing Costs on the Efficiency of Trade Credit.” Production and Operations Management 28 (4): 878–889.
  • Emtehani, F., N. Nahavandi, and F. M. Rafiei. 2021. “A Joint Inventory–Finance Model for Coordinating a Capital-Constrained Supply Chain with Financing Limitations.” Financial Innovation 7 (1): 1–39.
  • Gelsomino, L. M., R. de Boer, M. Steeman, and A. Perego. 2019. “An Optimisation Strategy for Concurrent Supply Chain Finance Schemes.” Journal of Purchasing and Supply Management 25 (2): 185–196.
  • Gelsomino, L. M., R. Mangiaracina, A. Perego, and A. Tumino. 2016. “Supply Chain Finance: A Literature Review.” International Journal of Physical Distribution & Logistics Management 46 (4). doi:10.1108/IJPDLM-08-2014-0173.
  • Goel, R. K., J. W. Saunoris, and S. S. Goel. 2021. “Supply Chain Performance and Economic Growth: The Impact of COVID-19 Disruptions.” Journal of Policy Modeling 43 (2): 298–316.
  • Grüter, R., and D. A. Wuttke. 2017. “Option Matters: Valuing Impair.” International Journal of Production Research 55 (22): 6608–6623.
  • Hermes, E. 2020. “Covid19 to Increase Firms Liquidity Needs to a Record USD8tn as Payment Delays and Inventories Surge [online].” Accessed February 8, 2021. https://www.eulerhermes.com/en_global/news-insights/economic-insights/Covid-19-to-increase-firms-liquidity-needs-to-a-record-USD8tn-as-payment-delays-and-inventories-surge.html.
  • Hofmann, E., and H. Kotzab. 2010. “A Supply Chain-Oriented Approach of Working Capital Management.” Journal of Business Logistics 31 (2): 305–330.
  • Huang, C., F. T. Chan, and S. H. Chung. 2021. “Recent Contributions to Supply Chain Finance: Towards a Theoretical and Practical Research Agenda.” International Journal of Production Research, 1–24. doi:10.1080/00207543.2021.1964706.
  • Huang, J., W. Yang, and Y. Tu. 2019. “Supplier Credit Guarantee Loan in Supply Chain with Financial Constraint and Bargaining.” International Journal of Production Research 57 (22): 7158–7173.
  • Inamizu, N., M. Fukuzawa, T. Fujimoto, J. Shintaku, and N. Suzuki. 2014. “Group Leaders and Teamwork in the Over-Lean Production System.” Journal of Organizational Change Management 27 (2): 188–205.
  • Jemdahl, M. 2016. Supply Chain Finance: A Buyer-Centric Supplier Payables Financing Initiative.
  • Kouvelis, P., and F. Xu. 2021. “A Supply Chain Theory of Factoring and Reverse Factoring.” Management Science 67 (10): 6071–6088.
  • Kouvelis, P., and W. Zhao. 2016. “Supply Chain Contract Design Under Financial Constraints and Bankruptcy Costs.” Management Science 62 (8): 2341–2357.
  • Kumar, S., and S. Managi. 2020. “Does Stringency of Lockdown Affect Air Quality? Evidence from Indian Cities.” Economics of Disasters and Climate Change 4 (3): 481–502.
  • Lam, H. K., Y. Zhan, M. Zhang, Y. Wang, and A. Lyons. 2019. “The Effect of Supply Chain Finance Initiatives on the Market Value of Service Providers.” International Journal of Production Economics 216: 227–238.
  • Lekkakos, S. D., A. Serrano, and A. Ellinger. 2016. “Supply Chain Finance for Small and Medium Sized Enterprises: The Case of Reverse Factoring.” International Journal of Physical Distribution & Logistics Management 46 (4). doi:10.1108/IJPDLM-07-2014-0165.
  • Liebl, J., E. Hartmann, E. Feisel, and A. Ellinger. 2016. “Reverse Factoring in the Supply Chain: Objectives, Antecedents and Implementation Barriers.” International Journal of Physical Distribution & Logistics Management 46 (4). doi:10.1108/IJPDLM-08-2014-0171.
  • Ma, H. L., Z. X. Wang, and F. T. Chan. 2020. “How Important are Supply Chain Collaborative Factors in Supply Chain Finance? A View of Financial Service Providers in China.” International Journal of Production Economics 219: 341–346.
  • Nigro, G. L., G. Favara, and L. Abbate. 2021. “Supply Chain Finance: The Role of Credit Rating and Retailer Effort on Optimal Contracts.” International Journal of Production Economics 240: 108235.
  • OECD. 2009. “The Impact of the Global Crisis on SME and Entrepreneurship Financing and Policy Responses – OECD [online].” Accessed February 19, 2021. https://www.oecd.org/cfe/smes/theimpactoftheglobalcrisisonsmeandentrepreneurshipfinancingandpolicyresponses.htm.
  • Oliveira, M. P. V., and R. Handfield. 2017. “An Enactment Theory Model of Supplier Financial Disruption Risk Mitigation.” Supply Chain Management: An International Journal 22 (5): 442–457.
  • Pan, A., L. Xu, B. Li, and R. Ling. 2020. “The Impact of Supply Chain Finance on Firm Cash Holdings: Evidence from China.” Pacific-Basin Finance Journal 63: 101402.
  • Protopappa-Sieke, M., and R. W. Seifert. 2017. “Benefits of Working Capital Sharing in Supply Chains.” Journal of the Operational Research Society 68 (5): 521–532.
  • Randall, W. S., and M. T. Farris. 2009. “Supply Chain Financing: Using Cash-to-Cash Variables to Strengthen the Supply Chain.” International Journal of Physical Distribution & Logistics Management 39 (8): 669–689.
  • Rappaport, A. 1999. Creating Shareholder Value: A Guide for Managers and Investors. New York: Simon and Schuster.
  • Seifert, D., R. W. Seifert, and O. H. Isaksson. 2017. “A Test of Inventory Models with Permissible Delay in Payment.” International Journal of Production Research 55 (4): 1117–1128.
  • Sharma, R., A. Shishodia, S. Kamble, A. Gunasekaran, and A. Belhadi. 2020. “Agriculture Supply Chain Risks and COVID-19: Mitigation Strategies and Implications for the Practitioners.” International Journal of Logistics Research and Applications, 1–27. https://doi.org/10.1080/13675567.2020.1830049
  • Sokolinskiy, O., B. Melamed, and B. Sopranzetti. 2018. “Precautionary Replenishment in Financially-Constrained Inventory Systems Subject to Credit Rollover Risk and Supply Disruption.” Annals of Operations Research 271 (2): 971–997.
  • Sung, H. C., and S. J. Ho. 2020. “Supply Chain Finance and Impacts of Consumers’ Sustainability Awareness.” The North American Journal of Economics and Finance 54: 100962.
  • Tang, W., H. Li, and K. Cai. 2020. “Optimising the Credit Term Decisions in a Dual-Channel Supply Chain.” International Journal of Production Research, 1–18. doi:10.1080/00207543.2020.1762018.
  • Tang, C. S., S. A. Yang, and J. Wu. 2018. “Sourcing from Suppliers with Financial Constraints and Performance Risk.” Manufacturing & Service Operations Management 20 (1): 70–84.
  • Tunca, T. I., and W. Zhu. 2018. “Buyer Intermediation in Supplier Finance.” Management Science 64 (12): 5631–5650.
  • Van der Vliet, K., M. J. Reindorp, and J. C. Fransoo. 2015. “The Price of Reverse Factoring: Financing Rates vs. Payment Delays.” European Journal of Operational Research 242 (3): 842–853.
  • Vázquez, X. H., A. Sartal, and L. M. Lozano-Lozano. 2016. “Watch the Working Capital of Tier-two Suppliers: A Financial Perspective of Supply Chain Collaboration in the Automotive Industry.” Supply Chain Management: An International Journal 21 (3): 321–333.
  • Wetzel, P., and E. Hofmann. 2019. “Supply Chain Finance, Financial Constraints and Corporate Performance: An Explorative Network Analysis and Future Research Agenda.” International Journal of Production Economics 216: 364–383.
  • Wu, Y., Y. Wang, X. Xu, and X. Chen. 2019. “Collect Payment Early, Late, or Through a Third Party’s Reverse Factoring in a Supply Chain.” International Journal of Production Economics 218: 245–259.
  • Wuttke, D. A., C. Blome, and M. Henke. 2013. “Focusing the Financial Flow of Supply Chains: An Empirical Investigation of Financial Supply Chain Management.” International Journal of Production Economics 145 (2): 773–789.
  • Yazdimoghaddam, J. 2020. “A Model for Financial Supply Chain Management with Two Different Financial Approaches.” Journal of Modelling in Management. doi:10.1108/JM2-04-2020-0110.
  • Zhang, T., C. Y. Zhang, and Q. Pei. 2019. “Misconception of Providing Supply Chain Finance: Its Stabilising Role.” International Journal of Production Economics 213: 175–184.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.