Many banks and credit unions are often unaware of how intricate and delicate their cash supply chain is compared to most retailers. While both supply chains act similarly, financial institutions have other challenges in optimizing and managing their cash supply chain and inventory.
LogicpathTM created the e-book, Supply Chain Management 101 for Financial Institutions, to help banks and credit unions of any size understand and apply basic supply chain and inventory management principles to optimize their cash supply chain more effectively.
Our e-book is broken down into three easily digestible sections:
With the increase of technology, banks and credit unions are accumulating data more quickly than ever before. Due to easy access and the usability of Excel and cloud software, more community financial institutions are empowered with data. However, learning how to adopt a data informed mindset is an important part in the process needed to understand and implement strategic business decisions based on data.
Supply chain management (SCM), or inventory management, is the process and activity of sourcing materials that an enterprise needs to create a product or service and deliver to its customers. SCM applications are used by almost every other industry today and banks and credit unions are behind the times regarding supply chain management. Retail products and currency move in a very similar way through the supply chain.
Cash demand and inventory forecasting are necessary tools for strengthening any financial instituiton. Cash demand and inventory forecasting is the process of making a data informed estimation about the future level of cash demand and usage over a defined period, usually based around your cash order frequency. Accurate cash demand forecasting is critical to smart business management, as it allows you to plan for demand and effectively manage cash flow in and out of your institution and accurately report on overall cash inventory.
C3 Financial simplifies the cash supply chain by integrating all cash end points seamlessly - ensuring your needs for cash are met at the lowest cost, everywhere you need them.