Financial Supply Chain Management in Emerging Markets of India: With Respect to Operations Management Theories and Practices

Abstract: This study explores the convergence of supply chain and finance in emerging markets of India, examining the adoption and impact of Financial Supply Chain Management (FSCM) on companies operating in these regions. The purpose of this research is to investigate the current state of FSCM practices, challenges, and opportunities in India's emerging markets by using the theories and practices of Operations Management.

This study investigates the challenges faced by Indian businesses in Financial Supply Chain Management (FSCM) and explores the effectiveness of customized Operations Management (OM) solutions in addressing these challenges. The findings of this study provide valuable insights for Indian businesses seeking to improve their FSCM practices and overcome the challenges faced in this area.

This study employs a mixed-methods approach, combining quantitative and qualitative analyses to investigate the adoption and impact of Financial Supply Management (FSM) among Indian companies. A structured survey was administered to a sample of 100 companies across various industries, gathering data on FSM adoption, implementation duration, revenue growth, and related insights. Quantitative analysis involved descriptive statistics and inferential tests, including correlation and ANOVA analyses. Qualitative analysis entailed thematic analysis to identify key drivers, challenges, and best practices associated with FSM adoption, supplemented by case studies of successful implementations.

The study contributes to the existing literature on FSCM by highlighting the need for companies to develop strategies to overcome these challenges and leverage the benefits of FSCM. The findings of this research provide valuable insights for practitioners, policymakers, and scholars seeking to understand the complexities of FSCM in emerging markets.

Financial Supply Chain Management (FSCM), Emerging Markets, Supply Chain Finance, Financial Performance, Supply Chain Resilience, Business Sustainability

1. Abdel-Basset, M., Mohamed, R., Sallam, K., & Elhoseny, M. (2020). A novel decision-making model for sustainable supply chain finance under uncertainty environment. Journal of Cleaner Production, 269, 122324. [Google Scholar] [Crossref]

2. Askah, E., & Thomas, O. O. (2022). Financial Supply Chain Management Practices and Operational Performance in the Low-Cost Airline Firms in Kenya. Journal of Service Science and Management, 15(3), 350-361. [Google Scholar] [Crossref]

3. Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120. [Google Scholar] [Crossref]

4. Carmona, L. J. D. M. (2022). Analyzing the path of Resource-based and Dynamic Capabilities Theories for explaining the differentiated performance of firms. Revista de Negócios, 27(4), 107-125. [Google Scholar] [Crossref]

5. Cooper, M. (2024). Building Resilient Supply Chains: Perspectives on Procurement Risk Management. [Google Scholar] [Crossref]

6. Edunjobi, T. E. (2024). Sustainable supply chain financing models: Integrating banking for enhanced sustainability. International Journal for Multidisciplinary Research Updates 2024, 7(02), 001-011. [Google Scholar] [Crossref]

7. Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of Management Review, 14(1), 57-74. [Google Scholar] [Crossref]

8. Fathollah, M. & Zargar, H. (2019). Development of Financial Supply Chain Management and Supply Chain Finance Model. Research Journal of Finance and Accounting, 10(1), 16-25. [Google Scholar] [Crossref]

9. Grant, O. (2024). The Role of Supplier Relationship Management in Enhancing E-Commerce User Experience. [Google Scholar] [Crossref]

10. Holloway, S. (2024). The Role of Supply Chain Management in Shaping Marketing Strategies for Emerging Markets. [Google Scholar] [Crossref]

11. Hoskisson, R. E., Wright, M., Filatotchev, I., & Peng, M. W. (2013). Emerging multinationals from mid-range economies: The influence of institutions and factor markets. Journal of International Business Studies, 44(6), 555-573. [Google Scholar] [Crossref]

12. Huang, H., & Sutunyarak, C. (2024). Supply chain finance and enterprise innovation performance: The mediating roles of supply chain concentration. Journal of Infrastructure, Policy and Development, 8(8), 6312. [Google Scholar] [Crossref]

13. Jia, F., Zhang, T., & Chen, L. (2020). Sustainable supply chain Finance: Towards a research agenda. Journal of cleaner production, 243, 118680. [Google Scholar] [Crossref]

14. Kristofik, P., Kok, J., de Vries, S., & van Sten-van’t Hoff, J. (2012). Financial supply chain management–Challenges and obstacles. Proceedings in Finance and Risk Perspectives, 12. [Google Scholar] [Crossref]

15. Kumar, V., Verma, P., Sharma, R. R. K., & Khan, A. F. (2017). Conquering in emerging markets: critical success factors to enhance supply chain performance. Benchmarking: An International Journal, 24(3), 570-593. [Google Scholar] [Crossref]

16. Lambert, D. M., & Pohlen, T. L. (2001). Supply chain metrics. International Journal of Logistics Management, 12(1), 1-12. [Google Scholar] [Crossref]

17. Liu, X., & Zheng, Z. (2024). The impact of supply chain finance on supplier stability: The mediation role of corporate risk-taking. Finance Research Letters, 65, 105606. [Google Scholar] [Crossref]

18. Luthra, S., & Mangla, S. K. (2018). When strategies matter: Adoption of sustainable supply chain management practices in an emerging economy’s context. Resources, Conservation and Recycling, 138, 194-206. [Google Scholar] [Crossref]

19. Mansour, H., Aminudin, E., Mansour, T., Abidin, N. I. A. B., & Lou, E. (2022, October). Resource-Based View in Construction Project Management Research: A Meta-Analysis. In IOP Conference Series: Earth and Environmental Science (Vol. 1067, No. 1, p. 012057). IOP Publishing. [Google Scholar] [Crossref]

20. Medina, E., Caniato, F., & Moretto, A. (2023). Framing Sustainable Supply Chain Finance: how can supply chain sustainability practices and supply chain finance solutions be integrated?. Journal of Purchasing and Supply Management, 29(3), 100837. [Google Scholar] [Crossref]

21. Morschett, D., Schramm-Klein, H., & Zentes, J. (2015). Strategic international management: Text and cases. Springer. [Google Scholar] [Crossref]

22. Nguyen, D., Nguyen, T., Nguyen, X., Do, T., & Ngo, H. (2022). The effect of supply chain finance on supply chain risk, supply chain risk resilience, and performance of Vietnam SMEs in global supply chain. Uncertain Supply Chain Management, 10(1), 225-238. [Google Scholar] [Crossref]

23. Nyadzayo, M. W., Casidy, R., & Mohan, M. (2023). Maximizing customer adoption outcomes in emerging industrial markets via supplier innovativeness and relationship quality. Journal of Business & Industrial Marketing, 38(4), 958-973. [Google Scholar] [Crossref]

24. Pant, S., & Mahapatra, S. (2018). ABank mediated financial supply chains: Implications for supply chain strategy and operations. International journal of supply and operations management, 5(4), 298-318. [Google Scholar] [Crossref]

25. Piotrowicz, W., & Cuthbertson, R. (2015). Supply Chain Design and Management for Emerging Markets. Oxford: Springer. [Google Scholar] [Crossref]

26. Popa, V. (2013). The financial supply chain management: a new solution for supply chain resilience. Amfiteatru Economic Journal, 15(33), 140-153. [Google Scholar] [Crossref]

27. Saleem, Q., Hommes, M., & Sorokina, A. (2017). Technology-Enabled supply chain finance for small and medium enterprises is a major growth opportunity for banks. [Google Scholar] [Crossref]

28. Sugirin, M. (2009). Financial supply chain management. Journal of Corporate Treasury Management, 2(3). [Google Scholar] [Crossref]

29. Sunitha, R. (2010). " Financial Institution's Role in Supply Chain Risk Management: Strengthening Resilience and Mitigating Financial Risks. [Google Scholar] [Crossref]

30. Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic management journal, 18(7), 509-533. [Google Scholar] [Crossref]

31. Templar, S., Hofmann, E., & Findlay, C. (2020). Financing the end-to-end supply chain: A reference guide to supply chain finance. Kogan Page Publishers. [Google Scholar] [Crossref]

32. Thomya, W., Rangsungnoen, G., Ritsri, U., Nonthapot, S., & Saenchaiyathon, K. (2023). The relationship between supply chain finance and firm performance: Evidence from Thai listed firms. Asian Economic and Financial Review, 13(8), 547-558. [Google Scholar] [Crossref]

33. Touil, A., Babounia, A., & El Hamidi, N. (2024). How does adopting sustainable supply chain quality management improve corporate financial performance? A transaction cost perspective. Investment Management & Financial Innovations, 21(3), 170. [Google Scholar] [Crossref]

34. Uddin, M. S., Habib, M. M., & Mohamed, O. E. B. (2023). Exploring the Interconnectedness of Supply Chain Management Theories: A Literature Review. International Supply Chain Technology Journal, 9(4). [Google Scholar] [Crossref]

35. Wan, Z. (2024). Optimizing Supply Chain Resilience: The Guangzhou Mengniu Case. Finance & Economics, 1(8). [Google Scholar] [Crossref]

36. Zhang, M., Zhang, J., Ma, R., & Chen, X. (2019). Quantifying credit risk of supply chain finance: a Chinese automobile supply chain perspective. IEEE access, 7, 144264-144279. [Google Scholar] [Crossref]

37. Zhe, J. (2023). The Influence of Supply Chain Financing on Enterprise Operation Efficiency and Competitiveness. International Journal of Business and Technology Management, 5(3), 684-691. [Google Scholar] [Crossref]

38. Abhulimen, A. O., & Ejike, O. G. (2024). Solving supply chain management issues with AI and Big Data analytics for future operational efficiency. Computer Science & IT Research Journal, 5(8), 1780-1805. [Google Scholar] [Crossref]

39. Jha, A., Raut, A., Taneja, H., Dalvi, V., & Varade, M. U. (2024). Supply Chain Management Using Block Chain Technology. International Research Journal on Advanced Engineering Hub (IRJAEH), 2(07), 1931-1936. [Google Scholar] [Crossref]

40. Mathur, T. (2024). Reviewing Optimization Techniques in Supply Chains: AI and Blockchain Perspectives. International Journal of Scientific Research In Engineering And Management. [Google Scholar] [Crossref]

41. Wilson, G., Johnson, O., & Brown, W. (2024). Exploring the Adoption of Blockchain Technology in Supply Chain Management. [Google Scholar] [Crossref]

42. Israfilov, N., Druzyanova, V., Ermakova, M., & Sinitsyna, A. (2023). Key directions for transforming supply chain management in emerging markets during the post-COVID-19 pandemic period. Operations and Supply Chain Management: An International Journal, 16(4), 498–508. [Google Scholar] [Crossref]

43. Chacón Vargas, J. R., & Moreno Mantilla, C. E. (2014). Sustainable supply chain management capabilities: A review from the resource-based view, the dynamic capabilities and stakeholder theories. Latin American Journal of Management for Sustainable Development, 1(4), 323–343. [Google Scholar] [Crossref]

• Patriarchy and Gender Roles in Shobhaa De's Second Thoughts and Easterine Kire’s Life on Hold
• Comparative Effects of Zeolite and Fly Ash on Soil Properties and Agricultural Productivity
• Assessing Interrelationships among Banking Satisfaction, Cooperative Perspectives and Rural Service Beliefs in Cooperative Banking in Northern Nigeria
• High-Performance Alloys and Composites’ Applications in Production Engineering
• Integrating Tidal Energy into Sub-Saharan Africa’s Power Mix: A Strategic Framework for Renewable Energy Expansion