Global Production and Supply Chain Management

Global Production and Supply Chain Management

Organizations in the current complex global world require numerous supply chain management strategies that are diversified and well-integrated to compete favorably in the competitive world market. Providing a crucial link between manufacturers, producers, suppliers, distributors, and customers is fundamental in enhancing market flow in the global economies. Organizations need to emerge and confront dynamism and current market threats evolving around suppliers’ and consumers’ logistics. The current global market has seen fewer manufacturers, reduced numbers of suppliers, and new demand-driven market forecasting; therefore, organizations need to speed up manufacturing rates and patterns through a supply chain system that is flexible and effective (Banham, 2010). In the current economy, manufacturers can predict the specific product customers prefer and produce the proper volume to supply this demand only with a supply chain managed efficiently. Without an appropriate supply chain, production would diminish, inventory and stock would become stagnant, and customers would not be satisfied. Besides, global and domestic suppliers will face recession and will not meet their deliveries in an environment with an impaired supply chain system. Therefore, since supply is becoming more international and complex, there is a need to manage loopholes to financial exposure.

References

Banham, R. (2010). Managing the Strategic Supply Chain — Managing Risk — The Wall Street Journal. Wsj.com. Retrieved 20 March 2021, from https://www.wsj.com/ad/article/managingrisk-managing.

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Global Production and Supply Chain Management

To enhance learning and to encourage fluency in current events, students are expected to read about current events in business and to contribute international news articles and summaries.

Global Production and Supply Chain Management

• The summary of the article should not go beyond one paragraph (about 5 sentences)
• The article summary must be in your own words. The summary and the cited link (in APA format)

Articles are to be selected from the business press. Suggested sources include The Economist, the Wall Street Journal, The Financial Times, The New York Times, Newsweek, Fortune, Business Week, and Forbes etc.