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A financial supply chain (FSC) is the flow of capital across a network of business entities involved in the production and delivery of a product or service.
A business entity includes:
Each entity has its own processes and methods in controlling and directing the flow of capital to, from and between entities.
An enterprise FSC begins when it is funded and ends when it is legally terminated.
A FSC is one of the three supply chain functions: Physical, Information, Financial. The scope of an FSC extends beyond the physical supply chain (PSC) of an enterprise.
The key functions of an FSC can be summarized as:
fiChains™ creates a financial supply chain digital twin.
In supply chains there is always a disruption happening or in the making somewhere. So now is a good time to start.
fiChains™ is non-intrusive, non-disruptive by design. fiChains™ digital assistants (DAs) off-load the busy-work employees need to do during a disruption reducing stress and burnout from disruptions. There is no risk or disruption to existing processes or systems.
fiChains™ supports Hi-Tech/Auto and Food/Agri/CPG/FMCG industries.
fiChains™ software uses AI powered digital assistants (DAs) to automate computation of Shouldbe costs at a SKU-Lane level 24/7, globally at digital speed, to deliver Financial supply chain visbility and intelligence in sync with your Physical supply chain.
For a SKU there may be 1000s of costs involved, managed by various cross-functional and cross-organizational teams such as Procurement, Suppliers, Logistics, Finance, Manufacturing,... In today's complex supply chains subject to disruptions, these costs can be continuously changing asynchronously on a global scale. Humans cannot work at digital speeds, DAs can.
Financial visibility and intelligence during supply chain disruptions accelerate an enterprise's agility & resilience with faster assessment, better decisions and shorter time to implement.
Enterprises use1000s of applications and spreadsheets to run the business. In Financial supply chains, there are 1000s of cost items managed across Procurement, Logistics, Finance, Manufacturing, DCs/Warehousing,... at a SKU-Lane level. In the new normal of constant supply chain disruptions, competitiveness depends on how well financial supply chains are managed.
Supply chain talent is hard to find, train and retain.
fiChains™ focuses on building the missing links required to support a Financial Supply Chain (FSC) and offload the 'busy-work' employees do not want to do.
Physical supply chain digital twins powered by IOT transformed the speed at which physical supply chains operate and are managed today. fiChains™ is powered by software digital assistants (DAs) using AI to create a financial digital twin showing the flow of capital in sync with your physical supply chain.
When disruptions happen, fiChains™ creates enterprise agility & resilience to assess financial impact, measure financial impact of decisions and implement decisions.
A Financial Digital Assistant fiDA™ is a purpose driven, AI powered digital assistant (DA) software that is pre-trained with financial supply chain domain specific cross-functional expertise and knowledge. DAs offload busy-work that employees do not want to do. Financial digital assistants are digital employees similar to human employees creating a hybrid workforce.
Unlike human employees who have to be recruited and trained over several years to gain cross-functional experience and knowledge to perform financial supply chain related tasks, DAs are pre-trained to work on day one.
Human employees can balance their work-life with more time for human-to-human (H2H) cross-functional negotiations & collaborations required to achieve financial outcomes.
For specific use cases please contact us at info@fichains.com with a brief note of your interest
Digital employees are software digital assistants (DAs) that work in collaboration with multiple human employees and other digital assistants. Similar to human employees that are hired and trained to perform supply chain functions, fiDA™ is pre-trained with decades of knowledge and ready to deliver ROI on day one.
A supply chain decision involves a minimum of three or more cross-functional business entities such as Procurement, Suppliers, Logistics, Finance,... A DA has the experience and knowledge of the cross-functional processes and computations that need to be performed. DAs do the work similar to human employees.
A hybrid workforce is an enterprise workforce of employees and digital assistants (DAs), working in collaboration to perform supply chain functions faster, smarter and better. DAs help employee work-life balance by offloading busy-work and reducing stress and burnout.
Supply chains have become a catch all phrase for several enterprise functions involving sourcing, making, distributing, and paying for goods and services. Future high performance supply chains distinguish themselves by recognizing three distinct supply chain functions: Physical, Information and Financial.
The characteristics of the 3 supply chains are significantly different. Three different languages are spoken in the 3 chains. Lumping the three chains together has created unnecessary complexity and obfuscating poor performance limiting enterprise agility and resilience.
Approaching the three functions with a fresh point of view exposes the legacy choke holds on innovation impacting people, process and technology unleashing new potential and opportunities without risk to create a high-performance enterprise.
No, they are not the same.
Financial Supply Chains begin when a business entity is created and funded. They end when the entity is legally terminated.
Supply Chain Finance (SCF) is a function within Financial Supply Chains (FSC).
Supply Chain Finance primarily facilitates the cash flows involved in Collections (Accounts Receivable (AR)), Payments (Accounts Payable (AP)). The SCF function may also include payment of invoices from suppliers and service providers via a 3rd party such as a Bank or Capital providers for a fee, referred to as 'factoring'.
The Financial Supply Chain is one of the three supply chain functions: Physical, Information and Financial. The function of the Physical Supply Chain (PSC) is to manage the flow of physical goods. The Information Supply Chain (ISC) manages the flow of information. The Financial Supply Chain (FSC) manages the flow of capital.
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