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Buyer-initiated Supply Chain Finance - An Empirical Analysis for the Syntegon Group

  • The project business in the packaging machine industry is highly volatile. Although the industry is steadily growing, firms face increasing financial constraints due to external, difficult to control, factors. This thesis examines the underlying concepts and processes of a Supply Chain Finance implementation, using the Syntegon Group as an empirical example. Due to the extended payment terms of customers and the currently undergoing refinancing measures, the analysis about potential liquidity increasing measures becomes extremely relevant for Syntegon. The research questions covered focus on cash liquidity increases, working capital improvement and alternatives to Supply Chain Finance solutions. This research aims to provide an informed recommendation about the implementation of Supply Chain Finance. The research is divided into two major parts. The first part discusses the underlying theoretical frameworks to understand the concept of working capital and supply chain management. These concepts are of great importance for the understanding of Supply Chain Finance and its relevance in today’s globalized world. The second part focuses on a detailed empirical analysis of the Syntegon Group. Hereby, the qualitative research involves expert interviews with various departments of the Syntegon Group. The answers of the interviewees are evaluated based on the different categories. This allows for a direct comparison of the interviewee’s answers. The quantitative analysis consists of the key figure analyses. These allow an informed statement about the current financial situation of the group. By calculating potential payment term extensions and the consequential cash flow opportunities, an estimation about the benefit of the implementation of Supply Chain Finance can be made. Lastly, the cost-benefit analysis of implementing such a solution versus receiving the money as a bank loan is determined. The results of the calculation and analyses have shown that payment term extensions offer large cash flow opportunities for the Syntegon Group. Receiving a bank loan in the same amount as the unlocked working capital would result in a lower benefit. Although further research beyond this thesis is needed, the clear benefits of implementing a Supply Chain Finance solution to increase liquidity are demonstrated.

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Author:Julia Kolodziej
Advisor:Michael Lederer
Document Type:Bachelor Thesis
Year of Completion:2021
Granting Institution:Hochschule Furtwangen
Release Date:2022/05/24
Tag:Packaging machine industry; Supply chain finance
Degree Program:IBM - International Business Management
Functional area:Finance & Accounting
Licence (German):License LogoUrheberrechtlich geschützt