From platformization to ecosystem: How do third-party supply chain finance platforms develop an ecosystem? An inter-organizational network perspective

Recently, the collaborative paper “From platformisation to ecosystem, how do third-party supply chain finance platforms develop an ecosystem: An inter-organisational network perspective” by Professor Lujie Chen from the Department of Intelligent Operations and Marketing at International Business School Suzhou (XJTLU) at Xi’an Jiaotong-Liverpool University (XJTLU) has been published in the International Journal of Production Economics, an ABCD-A rated journal.

This study examines how third-party supply chain finance (SCF) platforms evolve from standalone service providers to integral parts of broader SCF ecosystems. The research focuses on the capabilities needed for this transformation, specifically in information processing, financial network structuring, stakeholder relationship management, and SCF process management. By analyzing four prominent SCF platforms in China, the study identifies key stages of ecosystem formation and the essential role platforms play in connecting various stakeholders, such as financial institutions, focal companies, and SMEs.

Key findings show that SCF platforms undergo three stages: (1) service platformization, (2) SCF platformization, and (3) ecosystem development. In the first stage, platforms expand their reach through basic supply chain services; in the second, they integrate financial resources to support SCF operations; and in the final stage, they become ecosystem orchestrators, connecting various stakeholders and resources. This progression allows platforms to create value by fostering a network of partners.

The study identifies four capabilities that SCF platforms need for success: information processing (acquiring and sharing data to assess risks), financial network structuring (building relationships with multiple financial institutions), stakeholder relationship management (developing trust among banks, SMEs, and focal companies), and SCF process management (integrating operational and financial processes).

For SCF platforms, the key to success lies in expanding their reach (ability to connect with diverse stakeholders), richness (value generated through resource integration), and receptivity (effective use of resources). These network characteristics are critical for platform growth and resilience.

Practically, platforms should prioritize building a robust stakeholder network, focus on digital infrastructure, and collaborate with financial institutions to improve liquidity. Furthermore, integrating non-financial partners like insurers and logistics firms can enhance the value of the SCF ecosystem, ultimately fostering long-term supply chain resilience.

About the journal

The International Journal of Production Economics (IJPE) is a globally authoritative journal in the field of operations management, dedicated to research on production economics, supply chain management, and industrial systems engineering. As a dual-indexed SCI/SSCI journal (2022 Impact Factor: 12.0), it is renowned for its rigorous empirical studies and theoretical innovations, covering cutting-edge topics such as smart manufacturing, sustainable operations, and logistics optimization. The journal places particular emphasis on the integration of methodological advancements with practical industrial applications. In the latest Chinese Academy of Sciences (CAS) journal ranking, IJPE is classified as a *Top-tier journal in Engineering and Technology (Category 1 Zone)*, solidifying its role as a vital platform bridging international research in industrial management.

About the author

Lujie Chen is a full Professor of Management and Doctoral Supervisor at International Business School Suzhou at Xian Jiaotong-Liverpool University, where she also serves as the Director of the Research Centre for Excellence (Data Analytics & Modelling). Prof. Chen is Elsevier-Stanford University World's Top 2% Scientists 2024 (the only one in IBSS). She is a Fellow of the Higher Education Academy in the UK and an expert in the fields of supply chain management and business analytics. Professor Chen have published over 60 high-quality and impactful papers in top-tier journals such as the Journal of Operations Management (UTD 24), Harvard Business Review (FT50), International Journal of Operations and Production Management (ABS 4), British Journal of Management (ABS 4), and European Journal of Operational Research (ABS 4) , among others. She has served as a guest editor for special issues of several respected journals such as International Journal of Operations and Production Management, Industrial Marketing Management, International Journal of Production Economics, and Journal of Business Research. She is currently serving as an Associate Editor for the International Journal of Operations and Production Management (ABS 4).