Supply Chain Finance (SCF) has emerged as a crucial mechanism for mitigating financial challenges and optimizing cash flow within the supply chain ecosystem. This research report explores the evolving landscape of SCF, particularly focusing on Small, and Medium Enterprises (SMEs) in developing nations. The financial crises of 2007-08 and the recent pandemic have exposed the vulnerabilities in both physical and financial supply chain flows, underscoring the need for effective financial solutions beyond traditional bank loans and corporate borrowings. Large corporations have increasingly adopted SCF to enhance liquidity, foster positive supplier relationships, and secure competitive advantages. Despite these advancements, SMEs&mdashconstituting a significant portion of the global economy and contributing substantially to national GDPs&mdashcontinue to face severe financial constraints due to stringent credit conditions and power imbalances with larger buyers. Therefore, the present study aims at evaluating the reasons for slow adoption of SCF solutions by the SMEs and propose a model for the achievement of financial and operational efficiency. The present study will use various multi-criteria decision-making tools like: Fuzzy Delphi, Intuitionistic Fuzzy- Analytical Hierarchy Process (AHP), Sensitivity analysis etc. A hypothetical model will be proposed using total interpretive structural modeling (TISM), which will be further validated by structural equation modeling (SEM) approach. The study output will assist SMEs, professionals, policymakers, financial institutions, and supply chain practitioners, Academicians working in the field of Supply chain finance and SMEs, and to evaluate how various factors help and hinder the adoption of SCF.

Key words &ndash SCF, SMEs, Suppliers, Financial challenge, value chain, manufacturing