3 tips to maintain flexibility in supply chain management

November 21, 2022

Today’s globalized business environment demands flexibility – especially in the area of supply chain management. Learn three tips that will help you stay adaptable and resilient no matter what comes your way.

recent survey indicated that 94% of Fortune 1000 companies experienced supply chain disruption in 2020 as a result of COVID-19. Statistics like this emphasize just how important it is for organizations to have finance partners that can easily adapt to changing requirements. 

End-to-end supply chain finance solutions, when managed effectively, provide significant benefits to all parties involved. These arrangements can reduce risk, support a cash management strategy, simplify payment operations and more. Use these three tips as a guide to help ensure you’re trusting the right people and solutions to support your specific needs. 

 

Tip 1: Consider a “one-stop shop,” but avoid a “one-size-fits-all” approach.

Supply chain financing partners can help buyers and sellers meet the shared goals of optimizing working capital while managing risk. No two transactions are alike, so having partners that can meet bespoke requirements is key to staying nimble and avoiding headaches. To ease the burden of managing several parties in a single transaction, consider a single partner that can fill multiples roles, including:

  • Account bank
  • Trustee
  • Paying agent
  • Custodian
     

Consolidating partners can streamline the process, but you should also make sure your partner has enough flexibility to tailor their services meet to your needs. You should never be forced to fit within a pre-packaged approach. Whether you’re having preliminary discussions, going through the RFP process or closing the contract, make sure you have a deep understanding of how your supply chain finance team will manage processes and reach key milestones. Items to consider include: 

  • Account opening timelines 
  • Transaction schedules
  • Infrastructure and technology 
  • Currency requirements 

 

Tip 2: Find a partner that ensures easy onboarding.

It’s important to find a service provider that’s easy to work with from day one. That’s why it’s crucial to find a partner that has an efficient, simplified process to help keep your deals moving forward. They should be equipped to do whatever it takes, even if that means meeting same-day account opening or disbursement requirements.

Today’s know your customer (KYC) rules often create a laborious task within an onboarding checklist. Sophisticated onboarding systems and experienced teams can help create a seamless integration so you don’t have to worry about pain points, including:

  • Slow onboarding, KYC and account setup: Our team is fast, efficient and local (all onboarding is done in-house in London).
  • Inconsistent documentation: We provide an organised, on-time, transparent documentation review that’s continuously managed throughout the process.
  • Poor client service: Our staff is based in London and Dublin, so you can count on us to make decisions quickly and respond rapidly throughout the life of the deal.

 

Tip 3: Don’t discount trustworthiness.

You deserve to have a partner you can trust. While it’s important to be quick and cost efficient, you should also look for strength and stability. These qualities in an organization can help assure you that your business needs won’t be compromised. Get to know an organization at the foundational level, as well as how they function day to day. Also, make sure to review the following background items to assess reliability when looking at potential supply chain financing partners: 

  • Credit ratings 
  • Industry awards and accreditation 
  • Financial strength

 

At U.S. Bank, we understand the importance of adaptability in a changing business environment and offer tailored solutions to help you achieve your unique business goals. To learn more about how to create bespoke transactions to support your supply chain financing needs, contact Cameron Munden at cameron.munden@usbank.com or +44 (0) 20 7330 2315.

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Disclosures

U.S. Bank Global Corporate Trust is a trading name of U.S. Bank Global Corporate Trust Limited, U.S. Bank Trustees Limited and Elavon Financial Services DAC (each a U.S. Bancorp group company). U.S. Bank Global Corporate Trust Limited is a limited company registered in England and Wales having the registration number 05521133 and a registered address of 125 Old Broad Street, Fifth Floor, London, EC2N 1AR. U.S. Bank Global Corporate Trust Limited, Dublin Branch is registered in Ireland with the Companies Registration Office under Reg. No. 909340 with its registered office at Block F1, Cherrywood Business Park, Cherrywood, Dublin 18, Ireland D18 W2X7. U.S. Bank Trustees Limited is a limited company registered in England and Wales having the registration number 02379632 and a registered address of 125 Old Broad Street, Fifth Floor, London, EC2N 1AR. Elavon Financial Services DAC  (a U.S. Bancorp Company), trading as U.S. Bank Global Corporate Trust, is regulated by the Central Bank of Ireland.  Registered in Ireland with the Companies Registration Office, Reg. No. 418442. The liability of the member is limited. Registered Office: Block F1, Cherrywood Business Park, Cherrywood, Dublin 18, Ireland D18 W2X7. Directors: A list of names and personal details of every director of the company is available for inspection to the public at the company’s registered office for a nominal fee. In the UK, Elavon Financial Services DAC trades as U.S. Bank Global Corporate Trust through its UK Branch from its establishment at 125 Old Broad Street, Fifth Floor, London, EC2N 1AR (registered with the Registrar of Companies for England and Wales under Registration No. BR020005). Authorised and regulated by the Central Bank of Ireland. Authorised by the Prudential Regulation Authority and with deemed variation of permission. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.

All banking services are provided through Elavon Financial Services DAC. U.S. Bank Global Corporate Trust Limited and U.S. Bank Trustees Limited are Trust Corporations and not banking institutions and are not authorised to carry on banking business in the United Kingdom, Ireland or any other jurisdiction.

U.S. Bank National Association is not responsible for and does not guarantee the products, services, performance or obligations of its affiliates.

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