the-integral-role-of-banks-in-the-corporate-supply-chain

The integral role of banks in the corporate supply chain

The world of trade is changing, says Jon Richman, managing director, trade sales and supply chain, North East Asia for Standard Chartered Bank.
As corporations increasingly focus on supply chain activities and operational efficiency, there becomes a greater need for banks to play a more integral role in helping their clients manage the complete working capital cycle. Companies are moving away from letter of credit LC based products, and on to open account settlement.

Despite this trend, companies are still expecting their banks to support them, as well as their suppliers and buyers in the trade process. Leading trade banks are helping their clients manage risk, support supply channels, automate processes, and even expand sales in new and different ways from the traditional banking models. Essentially, trade banks must now integrate themselves into their clientÆs supply chain...
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