Fintech for Supply Chain Finance: Streamlining Payments and Working Capital Management

How fintechs are revolutionizing the supply chain finance landscape.

How fintechs are revolutionizing the supply chain finance landscape.

The supply chain is the global economy’s backbone. It includes all of the activities involved in delivering goods or services from the manufacturer to the end user. Efficient supply chain financing is crucial for firms to maintain smooth operations.

However, supply chain financing can be complicated and costly due to the numerous players involved. This is where fintech enters the picture. This article will look at how fintech is helping to streamline payments and working capital management in supply chain finance.

What Exactly Is Supply Chain Finance?

Supply chain finance refers to a group of financial solutions aimed at optimizing the movement of cash along the supply chain. It consists of a variety of activities, such as invoice factoring, purchase order financing, and inventory finance. These solutions assist organizations in better managing their cash flow by giving access to working capital as needed.

However, supply chain finance can be complicated and costly. The typical technique comprises many middlemen, such as banks, insurance, and factoring firms, each with its own set of fees. This might lead to a lengthy and costly procedure with little transparency or flexibility.

How Fintech Is Helping to Simplify Supply Chain Finance

Fintech is changing the way supply chain finance is done. Fintech companies are streamlining payments and working capital management by embracing digital technology, making it easier and more cost-effective for businesses to manage their supply chains.

Fintech’s Advantages in Supply Chain Finance

There are numerous advantages to employing fintech for supply chain finance. Increased efficiency is one of the primary advantages. Automation and digital technology are being used by fintech companies to streamline the supply chain financing process, decreasing the time and cost associated. This allows organizations to concentrate on their core operations while improving overall efficiency.

Fintech Risks in Supply Chain Finance

While fintech has numerous advantages for supply chain financing, it also has some drawbacks. Cybersecurity is one of the most serious threats. Fintech firms keep sensitive financial data, rendering them vulnerable to hackers. Businesses should choose a trustworthy fintech supplier with strong security procedures in place to safeguard their data.

How Fintech is Revolutionizing Supply Chain Finance with Artificial Intelligence

Supply chain finance has become an essential tool for businesses looking to optimize their cash flow and improve their working capital management. By leveraging the power of technology, fintech companies are now incorporating artificial intelligence (AI) into supply chain finance, revolutionizing how businesses manage their supply chains and providing unprecedented efficiency and transparency.

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Healthcare Business Intelligence Market : A Breakdown of the Industry by Technology, Application, and Geography

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The global healthcare business intelligence market is anticipated to reach value of USD 15.14 Billion by 2027, according to a current analysis by Emergen Research. The global healthcare business intelligence(BI) market is expected to expand significantly during the forecast period, owing to increasing demand for improved claim management solutions in the healthcare industry. Rising demand for better cost management solutions is likely to drive the global healthcare business intelligence market further in the near future. Moreover, rising adoption of data-driven decision-making solutions in the healthcare industry is also expected to drive the global healthcare BI market during the forecast period.

๐“๐จ ๐ ๐ž๐ญ ๐š ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐œ๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐†๐ฅ๐จ๐›๐š๐ฅ Healthcare Business Intelligence Market ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ, ๐ฏ๐ข๐ฌ๐ข๐ญ @ https://www.emergenresearch.com/request-sample/460

The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

๐‹๐ข๐ฌ๐ญ ๐จ๐Ÿ ๐“๐จ๐ฉ ๐Š๐ž๐ฒ ๐‚๐จ๐ฆ๐ฉ๐š๐ง๐ข๐ž๐ฌ ๐๐ซ๐จ๐Ÿ๐ข๐ฅ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ž Healthcare Business Intelligence Market Domo Inc., Tableau Software, Sisense Inc., Microsoft Corporation, Qlik Technologies Inc., Infor Inc., SAP SE, Salesforce.com, Inc., Oracle Corporation, and MicroStrategy Incorporated

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ฒ๐ง๐š๐ฆ๐ข๐œ๐ฌ:

The report offers insightful information about the market dynamics of the Healthcare Business Intelligence Market . It offers SWOT analysis, PESTEL analysis, and Porterโ€™s Five Forces analysis to present a better understanding of the Healthcare Business Intelligence Market , competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Healthcare Business Intelligence Market

Increasing demand for improved claim management solutions in the healthcare industry and rising demand for better cost management solutions are driving the healthcare business intelligence market.โ€” Emergen Research

๐…๐จ๐ซ ๐ฌ๐ญ๐š๐ญ๐ข๐ฌ๐ญ๐ข๐œ๐š๐ฅ ๐š๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐ฌ๐ญ๐ฎ๐๐ฒ ๐จ๐ง Healthcare Business Intelligence Market ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ, Request for Free Sample Report

๐’๐จ๐ฆ๐ž ๐Š๐ž๐ฒ ๐‡๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ :

In August 2020, Knarr Analytics LLC was acquired by Qlik Technologies Inc. The deal would improve Qlik’s Cloud Platform Active Intelligence capability, which offers comprehensive insights to enable data-driven activities.

During the forecast period, the software segment is expected to retain the largest market share, expanding at a CAGR of 14.7%. Business intelligence software helps healthcare organizations collect, interpret, and process data into appropriate business information, which is projected to fuel the segment during the forecast period.

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8 Best Data Visualization Tools that Every Data Scientist Should Know

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Data scientists have to analyze, interpret, and visualize large datasets on a daily basis. This is why it is important for them to have the right data visualization tools at their disposal.
It can be difficult for people who donโ€™t work closely with data every day (such as managers or executives) to grasp what they are trying to say if all they give them is words on paper or an Excel spreadsheet full of numbers without any context.
Data visualization tools allow data scientists to communicate their findings more effectively, which is important because it allows them to share their insights with other people who may not be familiar with data science concepts.

Best Data Visualization Tools for Every Data Scientist

In this article, we shall take a look at some of the best data visualization tools for data scientists and how they can effectively increase the efficiency of data scientists. Here are eight important data visualization tools to help data scientists make better-informed decisions.

1. Tableau

Tableau is a data visualization tool that can be used to create interactive graphs, charts, and maps. It allows you to connect to different data sources and create visualizations in minutes.

2. QlikView

QlikView is not just another data visualization tool, It is a data discovery platform that empowers the users to make faster, more informed decisions by accelerating analytics, revealing new business insights, and increasing the accuracy of results.

3. Microsoft Power BI

The Microsoft Power BI is the data visualization tool that is used for business intelligence type of data. It is and can be used for reporting, self-service analytics, and predictive analytics.

4. Datawrapper

Datawrapper is an online data visualization tool that can be used in various contexts. It is very easy to use, and it has a clean and intuitive user interface.

5. Plotly

Plotly is a data visualization tool that is used to create interactive graphs, charts, and maps. You can also use Plotly to create a visualization of a dataset, then share the link of that visualization with your readers on social media or on your blog.

6. Sisense

Sisense is a data visualization tool that allows you to easily create interactive visualizations from your data. With Sisense, you can quickly and easily create extensive, informative dashboards that will help you understand your data better.

7. Excel

Microsoft Excel is a data visualization tool that has an easy interface, so it doesnโ€™t have to be difficult to work with.

8. Zoho analytics

Zoho Analytics is a data visualization and reporting tool that can help you to easily create custom reports and dashboards.

Conclusion

In the modern world, data is everywhere and itโ€™s important for brands to be able to decode and communicate their message in an effective manner.
And for data scientists, learning and keeping up with all the latest data visualization tools is paramount, and only after they master this art, they can keep up with the pace of big data, and the fast-moving realms of AI and ML.

5 WAYS TO KEEP VACCINE โ€˜COLD CHAINโ€™ SAFE FROM HACKERS

Rocky Mountain Regional VA Medical Center associate chief of pharmacy operations Terrence Wong opens a box containing a shipment of the Pfizer-BioNTech COVID-19 vaccine before storing it in a freezer on December 15, 2020 in Aurora, Colorado.

Rocky Mountain Regional VA Medical Center associate chief of pharmacy operations Terrence Wong opens a box containing a shipment of the Pfizer-BioNTech COVID-19 vaccine before storing it in a freezer on December 15, 2020 in Aurora, Colorado.

A major health system commissioned the study, which finds that an attacker located near equipment like freezers and coolers could use electromagnetic interference generated by simple devices like walkie-talkies to fool temperature sensors into giving false readings.

The interference could cause a coolerโ€™s temperature monitor to falsely indicate that the vaccine inside has become too warm to use, or it could cause a freezer to malfunction and spoil its contents.

The good news is there are simple steps that hospitals and health systems can take to protect themselves. Kevin Fu, then associate professor of electrical engineering and computer science at the University of Michigan, led the study. Fu later joined the FDA as acting director of medical device cybersecurity. He recommends the following five steps:

1. Restrict access to data like temperature displays

A potential attacker might try to devise a hack using trial and errorโ€”trying several different types of electromagnetic interference (EMI), such as radio waves from walkie-talkies, while watching temperature displays or other data to see which type of interference is effective.

  1. Health systems can protect against this kind of attacker by making data points like temperature readouts less visible. This could be done by:
  2. Installing blinders on temperature displays, similar to those on ATMs and voting machines.
  3. Eliminating real-time temperature displays when possible.
  4. Moving displays to make them less visibleโ€”for example, turning a display so it canโ€™t be seen through a roomโ€™s doorway.
  5. Restricting access to areas where temperature displays are located.

2. Keep the details about your sensors confidential

If a prospective attacker knows which sensors you use, they could buy an identical model, then work out the details of an attack off-site. Health systems can reduce the likelihood of this by keeping model numbers and other details about the temperature sensors in equipment like coolers and freezers confidential.

3. Keep the locations of your sensors confidential, and move them frequently

To successfully carry out an attack, a hacker must put an EMI device within a certain distance of the targeted equipment. There are a number of ways that health systems can make that more difficult.ย They include:

  1. Keep the locations of cold chain equipment confidential.
  2. Frequently moving equipment to different locations.
  3. Moving equipment toward the center of the rooms where theyโ€™re stored. This makes it more difficult to carry out an attack from an adjoining room.

4. Select the lowest possible sensor sampling rate

Temperature sensors take measurements at pre-set sampling ratesโ€”for example, once every five minutes. And a sensor with a lower sampling rate provides less data that a hacker could use to carry out an attack.

5. Use a sensor thatโ€™s less susceptible to electromagnetic energy

Depending on specific application, it may be possible to use a sensor thatโ€™s less susceptible to interference than a traditional thermocouple, like an on-chip integrated temperature sensor or a chemical-based temperature indicator.

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The future of supply chain management is AI and Data

The future of supply chain management is AI and Data

The future of supply chain management is AI and Data

Because enterprises are like organisms in an economic ecosystem, the principles that enable a healthy biological ecosystem are, from a physical, chemical and informational perspective, identical to those that enable a healthy business ecosystem and that ensure the survival of members of that business ecosystem. Value is created by solving problems through the application of information and creativity. By speeding the information flows and reducing inefficiencies, we are equipping our part of the bigger picture to operate effectively, adapt quickly and evolve to meet competitive threats and exploit opportunities in the environment.

Supply chains are a crucial and complex part of the information flowing in this ecosystem. They are an intricately structured and variable system that is highly sensitive, with many possible outcomes based on even minor changes in the initial conditions or components. Supply chains feature a large collection of interacting components that are difficult to understand or examine due to their design and operations. And they represent a system in process, changing and developing over time.

Itโ€™s critical to think holistically about the information ecosystem as you prepare the digital representation of various stages of product design and development. Even a product designed in isolation from other systems and groupsโ€”whether in a specialized department or in a separate contracting organizationโ€”is still part of an information ecosystem. Information that may be inconsequential to the group that is creating the product, such as an obscure material specification that has no immediate value, will likely have value either downstream (perhaps to a distributor or engineering group) or upstream (perhaps to a procurement manager or supply chain manager).

Too often, these unseen dependencies and information relationships are neglected, and the impact of this neglect can be significant. If a piece of data that will be needed when assembling or distributing a future product is not captured, is lost or is incorrectly represented, the cost of remediation is orders of magnitude larger than that of addressing the data need at the source.

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How To Manage Organizational Knowledge Without Killing It

Executives must create a climate of trust and openness for individuals to share individual knowledge.

Executives must create a climate of trust and openness for individuals to share individual knowledge.

Knowledge is identified as a multi-faceted concept, and is distinct from information and data.

Data has been defined, by Haridimos Tsoukas and Efi Vladimirou, as raw entities, and information is understood as a meaningful pattern within these raw entities. Knowledge can be understood as a concept for solving problems. In particular, Knowledge is a combination of rules, procedures, beliefs and skills that positively contribute to solving organizational problems. The key take-away for executives is that knowledge is a resource that enables organizations to solve problems and create value through improved performance and it is this point that will narrow the gaps of success and failure leading to more successful decision-making.

Knowledge, with its wide classifications, can be classified into individual and collective knowledge . Executives recruit followers based on their individual knowledge which refers to the individualโ€™s skills, prior-knowledge, and proficiencies or sometimes referred to competencies. Collective knowledge, on the other hand, has been defined, by Sharon Matusik, as โ€œorganizing principles, routines and practices, top management schema, and relative organizational consensus on past experiences, goals, missions, competitors, and relationships that are widely diffused throughout the organization and held in common by a large number of organizational membersโ€.

Thus, collective knowledge is part of the executiveโ€™s protocol and comes fairly natural at the higher echelons of the organization. Executives follow Thomas Davenport and Laurence Prusakโ€™s concern that concludes that if an executive cannot inspire its followers to share their individual knowledge with others, then this individual knowledge is not valuable to the organization. Therefore, like tacit knowledge, individual knowledge can become a valuable resource by developing an organizational climate of openness for members to exchange their ideas and insights.

Executives must create a climate of trust and openness for individuals to share individual knowledge.

This is not new, Wolfgang Wagner and Katsuya Yamori show that new technologies drawing on social-software systems through sharing individual knowledge around the organizations can positively contribute to create collective knowledge.

Therefore, executives should build an atmosphere of trust and openness and use technology to convert individual knowledge into valuable resources for their organization to close the performance gap and help organizations prosper. Executives have been now introduced to one important category of knowledge. Knowledge can be articulated, or shared, and executives can now assess whether knowledge is a valuable factor for commercial objectives.

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Seven Supply Chain Processes To Stop Doing In The Pandemic

Seven Supply Chain Processes To Stop Doing In The Pandemic

Seven Supply Chain Processes To Stop Doing In The Pandemic

I remember standing in the temperature screening queue in Doha. As the line wound around multiple stations, my backpack cut into my shoulders. I was tired and cranky as I read the overview of MERS. As an United States resident, I was blissfully unaware of this virus and worried about catching my flight to Singapore. My ignorance of a potential pandemic was low.

Changing My Mental Model

The Middle East Respiratory Syndrome (MERS), first reported in Saudi Arabia in 2012, didnโ€™t make headline news. Likewise, I watched the coverage of SARS, H1N1, and Ebola from my TV screen. As the COVID-19 saga unfolded, this was my mental model. My first articles dealt with the virus as a Chinese localized phenomenon. My jaw dropped when a friend became ill in Dallas in January from a visit to Dubai. I never conceived that it would become my reality.

Start Doing

In my prior articles, I have written extensively on the need for outside-in demand sensing processes based on market consumption data. I have also written about the need for supplier development programs and building robust supply chain capabilities in value networks. (I list these articles at the bottom of this post for reference.)

Stop Doing

What can we stop doing? The first step is to stop traditional demand planning processes based on conventional order pattern modeling. (This is the ouput of the conventional Advanced Planning models.) The modeling of historic order patterns is worthless through the pandemic. Why? The sales order pattern is no longer a predictor of future demand. Instead, invest in market sensing and the use of market consumption data. Attempt to read market shifts as they happen and drive a response.

Wrap-up

In closing, let me leave you with some thoughts. The pandemic is the result of a novel virus. Today, we have more that is unknown than known. What we stop doing will give us resources to focus on managing the supply chain in these uncertain times. Let me know your thoughts, and good luck.

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Warehouse Drones: Real-Time Inventory Tracking by Air

Using the Right Technology For Your Inventory Management

Using the Right Technology For Your Inventory Management

Warehouse Drones for Inventory Identification

Accurate and reliable data is essential to efficient and effective business operations.

Inventory management represents a significant portion of assets in a business.

Therefore, managers and other decision-makers need to accurately and timely know how much inventory there is and where it is located in order to make effective budgeting, operating, and financial decisions.

Companies that carry a significant amount of inventory are continually looking for innovative logistics solutions to improve the overall efficiency and effectiveness of their inventory checking process.

While some companies stop operations to carry out a full physical inventory check, others perform more targeted checks, with cycle counts in areas that deal with high-value or high-volume products.

Regardless of your approach, it often means that there is a team of individuals roaming the warehouse manually checking for inventory.

This can be time-consuming, expensive, disruptive, require equipment (people lifts), and exposes people to safety risks.

Most important of all, inventory accuracy is never guaranteed due to the verification process being manual, coupled with the time taken to execute.

Inventory Robotics: Automated Cycle Counting

Automatic identification and location of hard-to-reach inventory in warehouses

PINC’s UAS (Unmanned Aircraft System) is called PINC AIR, Aerial Inventory Robotsโ„ข.

This warehouse drone solution allows companies to apply drone technology, coupled with advanced optical, RFID, and barcoding sensor capabilities, to significantly improve the operational effectiveness and efficiency of warehouse inventory cycle count.

The warehouse drone can be ordered by the operator to perform automatic inventory checks throughout the facility, accurately identifying inventory in put-away locations, at the frequency of your choosing.

Moving the process of information capture into the air provides on-demand checks of logistics inventories and avoids the time, expense, and risk of using a people lift to access difficult to reach locations within the warehouse.

Using extensive optical sensors, the inventory drone can navigate, identify inventory, determine inventory location, and fly safely in a warehouse environment.

The power in the drone inventory management solution lies within the sophisticated software capabilities that provide three-dimensional mapping, navigation, inventory identification, and location accuracy. Indoor flights do not require FAA approval.

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EU Launches Estimated โ‚ฌ400M Blockchain, AI Fund to Avoid Lagging US, China

https://www.shutterstock.com/image-photo/eu-flags-front-european-commission-brussels-162128453

A new fund has been set up with the aim of preventing the EU falling behind nations like the U.S. and China on blockchain and artificial intelligence (AI) innovation.

The European Investment Fund (EIF) and the European Commission have together put up โ‚ฌ100 million (over $110 million) for a dedicated investment scheme that will make capital available to AI and blockchain projects via VC funds or other investors, EIF, an EU agency set up to indirectly fund SMEs, said in a blog post on Wednesday.

With the “cornerstone” funding in place, the EIF said private investors are expected to bring up to โ‚ฌ300 million ($331 million) into the fund, while the total could rise further from next year, with national promotional banks being able to co-invest under the scheme.

Sifted reports that the fund could ultimately raise up to โ‚ฌ2 billion ($2.2 billion) under the InvestEU Programme.

According to the post, the EU already spends plenty on blockchain (expected spending for 2019 is $674 million), but that is mostly directed toward research and proof-of-concepts.

The U.S. is the biggest spender, with a $1.1 billion expected spend, and China is second with $319 million, according to cited numbers from the International Data Corporation.

The new fund is aimed to address the fact that not so much is spent in the EU on developing “larger scale projects.

“Investing in a portfolio of innovative AI and blockchain companies will help develop a dynamic EU-wide investors community on AI and blockchain. By involving national promotional banks, we can scale up the volume of investments at a national level,” the EIF said.

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Graph Blockchain Solutions Targets $15.5 Trillion Global Supply Chain Management Logistics Sector

Blockchain Data Management & Global Logistics Market

With globalization and the increased consumption of various products worldwide, efficient supply chain management and the role of freight and logistics has become increasingly complex.

The global logistics market involves all activities of Supply Chain Management (โ€œSCMโ€), including transportation, warehousing, inventory management, and the flow of information and order processing.

As previously published by Transparency Market Research, this market is estimated to reach US $15.5 Trillion by 2023.

Multi-national global logistics and freight companies such as FedEx, UPS, and Purolator have openly acknowledged their endorsement of blockchain technology, with all three joining the Blockchain in Trucking Alliance (BiTA), noting that it will bring efficiencies to their industry through consistent, transparent and immutable data.

โ€œWeโ€™re quite confident that blockchain has big, big implications in the supply chain, transportation, and logistics,โ€ FedEx CEO Frederick Smith said at the Consensus 2018 conference.

On their companyโ€™s press release, Linda Weakland, UPS director of enterprise architecture and innovation, said: โ€œBlockchain has multiple applications in the logistics industry, especially related to supply chains, insurance, payments, audits and customs brokerage.โ€

Tied to global logistics, South Korea has one of the worldโ€™s highest e-commerce rates, however, they have lagged in keeping pace with warehouses and distribution centers. As such, as reported by the Wall Street Journal earlier this year, there has been a wave of investment into high-specification logistics projects across the country, both by the South Korean government through incentives and into Korean logistics properties by institutional investors such as the Canada Pension Investment Board.

Graph Blockchain Solutions

With the growth of this sector as a tactical objective, Graphโ€™s foray into the global logistics industry commenced with providing solutions to divisions of Samsung and LG corporations. Both companies are South Korean based multinational conglomerates, known to be the worldโ€™s largest manufacturer of mobile phones and smartphones, and the worldโ€™s second-largest television manufacturer, respectively.

By participating in the development of technology that could revolutionize logistics for multi-nationals, Graph has secured a solid position with the goal of becoming a leading solution provider in the sector, focusing on building a global logistics eco-system wherein the graph blockchain solution would reduce downtime by providing real-time monitoring, tracking and business intelligence analytics.

This will enable companies to realize cost savings by mitigating delays and minimizing the impact of lost goods due to cargo theft and fraud, while at the same time driving efficiencies across their SCM.

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