HSBC announced that it is going to launch an online supply chain solution that aims at the clothiers in Sri Lanka.
According to financewhile.com, it has emerged that the platform in question is going to allow the apparel exporters in the country to make payments earlier to their suppliers. Considering the entire chain by way of which the business works, early payments almost always results in a smoother operation for all parties. Suppliers who are paid earlier are also eager to make their supplies on time, and hence, the whole thing becomes far more efficient. Additionally, the platform from HSBC is also expected to reduce errors as well as costs for all the apparel exporters significantly.
According to experts from the Global Trade & Receivables Finance for Asia Pacific region at HSBC, by injecting liquidity into the supply chain, they can extend supplier network and enhance strategic supplier relationships.
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