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Cold supply chain finance - diagnosis, challenges, solutions

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Języki publikacji
EN
Abstrakty
EN
Background: The research problem addressed in this article is to determine the challenges in the field of cold supply chain finance. The cold supply chain covers all processes related to the storage, transportation and distribution of products that require low temperatures. Complex infrastructure, including cold stores, warehouses and transport vehicles, must be adapted to store and transport products at low temperatures, which can generate high logistics costs. Therefore, there is a need to optimize supply chain finances. Financial management in the cold supply chain area constitutes a research gap, given the limited number of verified publications on this topic. Based on the theory of supply chain finance (SCF) and cold supply chain (CSC), this study aims to examine the challenges that may arise in the financial management of cold supply chains. Although numerous publications on CSC in the pharmaceutical industry and supply chain finance exist, there is a research gap in combining these two areas. Methods: A thematic literature review complemented by an expert interview with an international pharmaceutical company - a leader in supply chain management - and the analytical induction method were used. These methods will help determine the specificity of applying SCF in cold supply chains. Results: This study presents generalizations regarding cold supply chain finance. The article extends the literature by reviewing these practices and by enabling research on best practices, as well as assessing a commonly accepted model for managing financial supply chain challenges. Although the study presents an in-depth assessment of cold supply chain finance practices, its limitations arise from the inability to compare the collected results with those from other companies. This is due to the small number of multinational pharmaceutical companies and the general reluctance to share financial or supplier information with the scientific sector. Conclusion: There is a very high, yet untapped, potential for using a wide range of SCF solutions to improve both operational and investment activities, as well as strategic ones (such as mutual capital investments of contractors). Effective financial management in CSC requires partnerships and advanced technology, particularly in pharmaceutical companies with numerous suppliers. It is also recommended to create departments responsible for supply chain finance and categorize suppliers into key groups.
Czasopismo
Rocznik
Strony
545--556
Opis fizyczny
Bibliogr. 30 poz., rys., tab., wykr.
Twórcy
autor
  • Poland Institute of International Business and Economics, Department of Logistics, Poznań University of Economics and Business, Poznań, Poland
  • Poland Institute of International Business and Economics, Department of Logistics, Poznań University of Economics and Business, Poznań
Bibliografia
  • 1. Allaoui, H., Guo, Y., Choudhary, A., & Bloemhof, J., 2018, Sustainable agro-food supply chain design using two-stage hybrid multi-objective decision-making approach, Computers & Operations Research, 89, 369-384. https://doi.org/10.1016/j.cor.2016.10.012
  • 2. Alsmadi, A., Al-Gasaymeh, A., Alrawashdeh, N., & Alhwamdeh, L., 2022, Financial supply chain management: A bibliometric analysis for 2006-2022, Uncertain Supply Chain Management, 10(3), 645-656, https://doi.org/10.5267/j.uscm.2022.5.010
  • 3. Announcement of the Speaker of the Sejm of the Republic of Poland of 27 February 2008, "Pharmaceutical Law" - consolidated text of the act, Journal of Laws 2008 No. 45 item 271. [In Polish: Obwieszczenie Marszałka Sejmu RP z dn. 27.02.2008 r. „Prawo farmaceutyczne” – jednolity tekst ustawy, Dz.U. 2008 nr 45 poz. 271], available at: https://isap.sejm.gov.pl/isap.nsf/DocDetails.xsp?id=wdu20080450271
  • 4. Babagolzadeh, M., Shrestha, A., Abbasi, B., Zhang, Y., Woodhead, A., & Zhang, A., 2020, Sustainable cold supply chain management under demand uncertainty and carbon tax regulation. Transportation Research Part D: Transport and Environment, 80, 102245. https://doi.org/10.1016/j.trd.2020.102245
  • 5. Bamakan, S. M. H., Moghaddam, S. G., & Manshadi, S. D., 2021, Blockchain-enabled pharmaceutical cold chain: Applications, key challenges, and future trends, Journal of Cleaner Production, 302, 127021, https://doi.org/10.1016/j.jclepro.2021.127021
  • 6. Banaszyk, P., 2022, Kierunki modyfikacji zarządzania łańcuchami dostaw w perspektywie przyszłości, Gospodarka Materiałowa i Logistyka, 6, 2-9, https://orcid.org/0000-0002-9457-3613
  • 7. Bateman, A., Bonanni, L., 2019, What supply chain transparency really means, Harvard Business Review 20: 2-8.
  • 8. Blok, D., 2023, What is the Cold Chain? And Why is It So Important for Safe Medicines? [Polish: Co to jest łańcuch chłodniczy? I dlaczego jest to tak ważne dla bezpiecznych leków?], Pharmaoffer, https://pharmaoffer.com/pl/blog/what-is-cold-chain-and-why-this-is-so-important-in-the-pharmaceutical-industry/
  • 9. Bortolini, M., Faccio, M., Ferrari, E., Gamberi, M., & Pilati, F., 2016, Fresh food sustainable distribution: cost, delivery time and carbon footprint three-objective optimization. Journal of Food Engineering, 174, 56-67, https://doi.org/10.1016/j.jfoodeng.2015.11.014.
  • 10. Camerinelli, E., & Bryant, C., 2014, Supply chain finance—EBA European market guide version 2.0. Retrieved Nov, 1, 2021. https://www.abe-eba.eu/media/azure/production/1544/eba-market-guide-on-supply-chain-finance-version-20.pdf.
  • 11. Centobelli, P., Cerchione, R., & Ertz, M., 2021, Food cold chain management: what we know and what we deserve, Supply Chain Management: An International Journal, 26(1), 102-135, https://doi.org/10.1108/SCM-12-2019-0452
  • 12. Brzozowska, A., Imiołczyk, J., Brzeszczak, A., Szymczyk, K., 2016, Managing cold supply chain, In Proceedings of the 5th IEEE International Conference on Advanced Logistics and Transport (ICALT 2016), Politechnika Krakowska, Kraków, Poland
  • 13. Düzgün, M., & Kızılırmak, B., 2021, Risks in cold chain operations in healthcare logistics and applicable technological solutions, Mersin Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 5(1), 84-110, https://doi.org/10.55044/meusbd.997579
  • 14. Educational Development Center, Report on the course of expert, research prepared as part of the project: “Excellent practitioner.” [In Polish: Ośrodek Rozwoju Edukacji, Raport z przebiegu badań eksperckich opracowanie w ramach projektu: „Doskonały praktyk”] Accessed July 26, 2024. Available at: https://zasobyip2.ore.edu.pl/pl/publications/download/193
  • 15. Ghadge, A., Bourlakis, M., Kamble, S., & Seuring, S., 2023, Blockchain implementation in pharmaceutical supply chains: A review and conceptual framework, International Journal of Production Research, 61(19), 6633-6651, https://doi.org/10.1080/00207543.2022.2125595
  • 16. Herjolfsson, G., 2019, What the food supply chain can learn from pharma, Food Safety Magazine, Signature Series
  • 17. Hulea, M., Rosu, O., Radu, M., Aştilean, A., 2018, Pharmaceutical cold chain management: Platform based on a distributed ledger, In Proceedings of the 2018 IEEE International conference on automation, quality and testing, robotics (AQTR): 1-6. Cluj-Napoca, Romania
  • 18. Jaberidoost, M., Nikfar, S., Abdollahiasl, A., & Dinarvand, R., 2013, Pharmaceutical supply chain risks: a systematic review, DARU Journal of Pharmaceutical Sciences, 21, 1-7, https://doi.org/10.1186/2008-2231-21-69
  • 19. James, S. J., & James, C., 2010, The food cold-chain and climate change, Food Research International, 43(7), 1944-1956, https://doi.org/10.1016/j.foodres.2010.02.001
  • 20. Jansen, J., Supply Chain Finance Perspectives. In Supply Chain: Perspectives and Applications, February 21, 2024, https://doi.org/10.5772/intechopen.114030
  • 21. Joshi, R., Banwet, D. K., Shankar, R., & Gandhi, J., 2012, Performance improvement of cold chain in an emerging economy, Production Planning & Control, 23(10-11), 817-836, https://doi.org/10.1080/09537287.2011.642187.
  • 22. Khalid, R. U., Jajja, M. S. S., & Ahsan, M. B., 2024, Supply chain sustainability and risk management in food cold chains–a literature review, Modern Supply Chain Research and Applications, https://doi.org/10.1108/mscra-07-2023-0030
  • 23. Köseli, İ., Soysal, M., Çimen, M., & Sel, Ç., 2023, Optimizing food logistics through a stochastic inventory routing problem under energy, waste and workforce concerns, Journal of Cleaner Production, 389, 136094, https://doi.org/10.1016/j.jclepro.2023.136094
  • 24. Li, J., Liu, Y., & Yang, G., 2024, Two‐stage distributionally robust optimization model for a pharmaceutical cold supply chain network design problem, International Transactions in Operational Research, 31(5), 3459-3493, https://doi.org/10.1111/itor.13267
  • 25. Qian, J., Yu, Q., Jiang, L., Yang, H., & Wu, W., 2022, Food cold chain management improvement: A conjoint analysis on COVID-19 and food cold chain systems, Food Control, 137, 108940, https://doi.org/10.1016/j.foodcont.2022.108940
  • 26. Salin, V., & Nayga Jr, R. M., 2003, A cold chain network for food exports to developing countries, International Journal of Physical Distribution & Logistics Management, 33(10), 918-933, https://doi.org/10.1108/09600030310508717
  • 27. Shashi, M. (2022). Digitalization of pharmaceutical cold chain systems using IoT digital enabler. International Journal of Engineering and Advanced Technology, 11(5). https://doi.org/10.35940/ijeat.e3622.0611522
  • 28. Srivastava, S., Bhadauria, A., Gupta, S., & Dhaneshwar, S., 2022, Temperature excursion management in cold supply chain of pharmaceutical products, ECS Transactions, 107(1), 2673, https://doi.org/10.1149/10701.2673ecst
  • 29. Stemmler, L., 2002, The role of finance in supply chain management. In S. Seuring & M. Goldbach (Eds.), Cost Management in Supply Chains (pp. 165–176). Physica, Heidelberg.https://doi.org/10.1007/978-3-662-11377-6_10
  • 30. Vousinas, G. L., 2019, Supply chain finance: Definition, modern aspects and research challenges ahead, in: Tate, W., Bals, L., Ellram, L (Eds.), Supply Chain Finance: Risk Management, Resilience and Supplier Management, Kogan Page: 63-95
Uwagi
Opracowanie rekordu ze środków MNiSW, umowa nr POPUL/SP/0154/2024/02 w ramach programu "Społeczna odpowiedzialność nauki II" - moduł: Popularyzacja nauki (2025).
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-a43fb15d-69da-43a5-9650-7c720a77b9f4
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