Purpose, originality and value: The main objective of this thesis is to develop a framework aimed to investigate which variables are relevant in the decision-making process that leads suppliers to accept or reject a Reverse Factoring offer. In particular, the influence of qualitative and quantitative variables on the final supplier’s decision is investigated. Furthermore, it is analysed which factors drive customers to propose SCF to their suppliers and how buyer’s objectives affect the financial attractiveness of the solution for the supplier. This research helps to fill a significant gap: the lack of academic literature on the SCF studied from the supplier point of view. Design, methodology and approach: The research process started from a deep analysis of the existing academic literature treating topics of our interest, this was useful to have a detailed knowledge of the subject and a general vision of the existing literature. From the literature, it was possible to develop a preliminary research framework used as a tool to answer to our research questions. Variables and sub-variables included in the preliminary model have been identified in the literature and defined. Subsequently, secondary data were analysed and case studies were conducted through semi-structured interviews. In total, 14 case studies were studied. In conclusion, through the data triangulation, it was possible to define different archetypes and to define a new final framework which, together, allowed to provide an answer to our research questions. Results: The result of this thesis is multiple. On the one hand, it was possible to classify the objectives leading customers to offer a SCF solution to their suppliers. In particular, three strategies have been identified: Supply chain-oriented strategy, Buyer-oriented strategy and Combined strategy. A second output of this thesis is the identification of the qualitative and quantitative variables involved in the decision-making process that leads the supplier to accept or reject an RF offer. Subsequently, through the cases analysis, the impact of customers’ different objectives on the financial attractiveness of RF was investigated. Furthermore, it was studied the impact of different groups of variables on the final decision: through the identification of 8 archetypes it was described how qualitative variables moderate the relationship between financial attractiveness of RF and supplier’s adoption decision. Practical and managerial implications: This research provides managers of buyer-companies offering RF with a better view of all the variables affecting the supplier’s decision-making process. Moreover, the output makes it possible to understand whether quantitative or qualitative factors, such as limited rationality, opportunistic behaviour and Other internal characteristics of the supplier, are more relevant in the decision-making process. In addition, the research supports suppliers in taking the decision: on the one hand, it provides an idea of the objectives that push the customer to propose SCF; on the other hand, it spreads a greater awareness of factors impacting on the decision to accept or reject the RF offer received. Limits and future researches This research has inevitable limitations. The main limits are the small number of case studies analysed, the low diversifications of the sample and the inclusion in the cases of a single SCF solution. Future researches should include a greater number of examined cases and extend the investigation to further SCF programs.
Obiettivo: L’obiettivo principale di questa tesi è quello di sviluppare un modello per investigare quali variabili entrano in gioco nel processo decisionale che porta i fornitori ad accettare o rifiutare un’offerta di Reverse Factoring. In particolare, viene investigata l’influenza delle variabili qualitative e quantitative sulla decisione finale del fornitore. Inoltre, vengono analizzati quali fattori spingono i clienti a proporre delle soluzioni di SCF ai propri fornitori e come questi obiettivi impattano sull’attrattività finanziaria della soluzione per il fornitore. Questa ricerca contribuisce a colmare un rilevante lacuna: la mancanza di letteratura accademica sul SCF studiato dal punto di vista del fornitore. Design, metodologia e approccio: Il processo di ricerca è partito da uno studio approfondito della letteratura accademica esistente che tocca i temi di nostro interesse, questa ci è stata utile per avere una profonda conoscenza del tema trattato e una visione generale del materiale esistente fino ad oggi. Dalla letteratura è stato possibile sviluppare un modello preliminare utilizzato come strumento per rispondere alle nostre domande di ricerca. Inoltre, sono state identificate e definite le variabili e sotto-variabili presenti nel modello preliminare. In seguito, sono stati analizzati dati provenienti da fonti secondarie e, parallelamente, sono stati condotti casi studio tramite interviste semi-strutturate. In totale, 14 casi studio sono stati analizzati. In conclusione, attraverso la triangolazione dei dati, è stato possibile definire diversi archetipi e migliorare il modello finale che, insieme, ci hanno permesso di fornire una risposta alle domande di ricerca. Risultati: Il risultato di questa tesi è multiplo. Da una parte, è stato possibile classificare gli obiettivi che portano un cliente ad offrire una soluzione di SCF ai propri fornitori. In particolare, sono state identificate tre strategie: Supply chain-oriented strategy, Buyer-oriented strategy e Combined strategy. Un secondo output di questa tesi è l'identificazione delle variabili, qualitative e quantitative, coinvolte nel processo decisionale che porta il fornitore ad accettare o rifiutare un'offerta di RF. Successivamente, attraverso l'analisi dei casi, è stato indagato l'impatto dei diversi obiettivi del cliente sull'attrattività finanziaria della soluzione di RF per il fornitore. Inoltre, è stata studiato l'impatto di diversi gruppi di variabili sulla decisione finale: attraverso l’identificazione di 8 archetipi è stato descritto come le variabili qualitative hanno moderato la relazione tra attrattività finanziaria e decisione finale del fornitore riguardo l'adozione del RF. Implicazioni pratiche e manageriali Questa ricerca fornisce ai manager delle aziende che offrono una soluzione di RF una migliore visione di tutte le variabili che entrano in gioco nel processo decisionale dei fornitori. L’output permette di capire se nel processo decisionale dei fornitori, hanno più importanza fattori quantitativi o fattori qualitativi, come razionalità limitata, comportamenti opportunistici e fattori legati alle caratteristiche del fornitore. Inoltre, supporta i fornitori nel processo decisionale: da una parte, fornisce un’idea degli obiettivi che spingono il cliente a proporre una soluzione di SCF; dall’altra, diffonde una maggiore consapevolezza dei fattori che impattano sulla decisione di accettare o rifiutare l’offerta di RF ricevuta. Limiti e ricerche future: Questa ricerca presenta inevitabili limitazioni. I limiti principali sono il numero limitato e poco diversificato di casi studio analizzati e l’inclusione di una sola soluzione di SCF. Ricerche future dovrebbero comprendere un numero maggiore di casi esaminati e estendere l’indagine ad ulteriori programmi di SCF.
Supply chain finance : a framework for the supplier's decision-making process in reverse factoring adoption
COLOMBO, GIULIA;IOMINI, AMANDA
2017/2018
Abstract
Purpose, originality and value: The main objective of this thesis is to develop a framework aimed to investigate which variables are relevant in the decision-making process that leads suppliers to accept or reject a Reverse Factoring offer. In particular, the influence of qualitative and quantitative variables on the final supplier’s decision is investigated. Furthermore, it is analysed which factors drive customers to propose SCF to their suppliers and how buyer’s objectives affect the financial attractiveness of the solution for the supplier. This research helps to fill a significant gap: the lack of academic literature on the SCF studied from the supplier point of view. Design, methodology and approach: The research process started from a deep analysis of the existing academic literature treating topics of our interest, this was useful to have a detailed knowledge of the subject and a general vision of the existing literature. From the literature, it was possible to develop a preliminary research framework used as a tool to answer to our research questions. Variables and sub-variables included in the preliminary model have been identified in the literature and defined. Subsequently, secondary data were analysed and case studies were conducted through semi-structured interviews. In total, 14 case studies were studied. In conclusion, through the data triangulation, it was possible to define different archetypes and to define a new final framework which, together, allowed to provide an answer to our research questions. Results: The result of this thesis is multiple. On the one hand, it was possible to classify the objectives leading customers to offer a SCF solution to their suppliers. In particular, three strategies have been identified: Supply chain-oriented strategy, Buyer-oriented strategy and Combined strategy. A second output of this thesis is the identification of the qualitative and quantitative variables involved in the decision-making process that leads the supplier to accept or reject an RF offer. Subsequently, through the cases analysis, the impact of customers’ different objectives on the financial attractiveness of RF was investigated. Furthermore, it was studied the impact of different groups of variables on the final decision: through the identification of 8 archetypes it was described how qualitative variables moderate the relationship between financial attractiveness of RF and supplier’s adoption decision. Practical and managerial implications: This research provides managers of buyer-companies offering RF with a better view of all the variables affecting the supplier’s decision-making process. Moreover, the output makes it possible to understand whether quantitative or qualitative factors, such as limited rationality, opportunistic behaviour and Other internal characteristics of the supplier, are more relevant in the decision-making process. In addition, the research supports suppliers in taking the decision: on the one hand, it provides an idea of the objectives that push the customer to propose SCF; on the other hand, it spreads a greater awareness of factors impacting on the decision to accept or reject the RF offer received. Limits and future researches This research has inevitable limitations. The main limits are the small number of case studies analysed, the low diversifications of the sample and the inclusion in the cases of a single SCF solution. Future researches should include a greater number of examined cases and extend the investigation to further SCF programs.| File | Dimensione | Formato | |
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2019_04 Colombo Iomini.pdf
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https://hdl.handle.net/10589/145831