Supply Chain Vector [Electronic resources] : Methods for Linking the Execution of Global Business Models With Financial Performance نسخه متنی

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Supply Chain Vector [Electronic resources] : Methods for Linking the Execution of Global Business Models With Financial Performance - نسخه متنی

Daniel L. Gardner

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Third-Party Logistics and Asset Management

The discussion of how a 3PL provider can reduce a customer's cost of goods sold is more straightforward than the rationale behind using a 3PL firm for improvements in asset utilization. For this reason, the analysis is best presented in two parts. First, a plausible argument can be made as to how a 3PL firm can help to actually decrease a client's investment in raw materials, work in process and finished goods. Second, and perhaps more obvious, is the ability of a 3PL firm to reduce the need for clients to tie up cash in warehouses, trucks and other distribution-related assets.

Each area offers special benefits to the customer, and the merits of any 3PL relationship are based on the ability to drive down expenses and positively influence asset investment. Prior to determining the role of a 3PL firm in improving asset utilization, however, a more fundamental question must be asked: Where in the relationship between buyer and seller does title to the goods change hands? Whether an importer, exporter or purchaser of raw materials or finished goods, clarification of this contractual clause is paramount to designing effective supply chains and is a driver of how well a 3PL firm can really influence asset utilization.

Transfer of title holds a high position in the SCM hierarchy due to the fact that as ownership transfers, the assets are assumed on the balance sheet of the buyer. From both a cash flow and return on investment perspective, inventories that hit the balance sheet sooner than they need to have an adverse effect on multiple financial ratios; this scenario will be analyzed in the case study presented later in this book. When taken in conjunction with logistics operations, modes of transport and 3PL provider performance, transfer of title becomes even more important to supply chain managers.

Consider, for example, the purchase of raw materials from a supplier in the Philippines for shipment to a production facility in Campinas, Brazil. The mode of transport is ocean freight, and the transfer of title takes place at the point of loading the container (the supplier's facility in Manila). In this instance, transportation lead time, which includes customs clearance at destination and delivery to the Campinas facility, can be upwards of 45 days. From an asset perspective, this means that goods are on the buyer's books for 45 days before the buyer even has the opportunity to put them into a production process and get the finished goods out for sale. Obviously, this puts the buyer at a financial disadvantage long before the shipment ever leaves the Philippines.

For supply chain purposes, the point is that transfer of title is negotiable between buyer and seller and should be carried out based on leverage with the supplier, mode of transport and cumulative lead times. In the preceding example, title transfer could take place as of the date of the bill of lading, date of first port of arrival in Brazil, or delivery date to the plant, each of which would improve the buyer's balance sheet and cash flow statement. Once the point of title transfer is established, the 3PL firm can be engaged to work on reducing transportation lead times to the operational and financial benefit of the client.

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