Globalization impact on Supply Chain

Final Thoughts Supply chain globalization is vital for me and my career. There are few final reasons I want to give as to why you should care and or look out for it in the future. Right now is especially an important time for customers to be on top of their supply chain, especially across the world. During these unprecedented times due to Covid-19 everything is out of wack. With business's being shut down or people working from home it's a lot harder to communicate day to day. Therefore effecting the supply chain and causing it to be unstable. Those who have a quality supply chain will successfully make it through. Communication and shipping will continue to grow year after year for the foreseeable future. Improved cargo, planes, & the automation of drones are just the beginning. Soon it will be second nature to receive packages you order on the same day. This is why it's important to keep paying attention to the supply chain and making sure you have the prope

Works Cited “Supply Chain Trends.”  Globalization , www.sdcexec.com/sourcing-procurement/news/10358095/six-key-trends-changing-the-supply-chain-management-today. “Globalization.”  Supply Chain Trends , www.industryweek.com/supply-chain/logistics/article/21962290/globalization-brings-new- risks-into-the-supply-chain. Majta. “Supply Chain.”  Managing Risks , www.forbes.com/sites/ciocentral/2012/10/04/managing-the-risks-of-a-globalized-supply-chain/#46d272bf39d8. “SC Digest.”  Expert Golbalization , scdigest.com/experts/Amberroad_19-03-14.php?cid=15267. “Covid-19.”  Supply Chain , www.theatlantic.com/ideas/archive/2020/03/supply-chains-and-coronavirus/608329/. Blanchard, Dave. “Supply Chain.”  Global Effects , www.industryweek.com/supply-chain/article/21958031/how-to-manage-a-global-supply-chain. Shih. “Rethink Supply Chain.”  Globalization , sloanreview.mit.edu/article/is-it-time-to-rethink-globalized-supply-chains/.

Feedback to disadvantage's I think it's important to start out that not all disadvantage's can be fixed or debunked. No system is perfect and there will always be issues. However dwindling these problems down to smaller ones can be done. When it comes to political, economic, and environmental instability most people don't realize the real reason these things happen. The majority of the time it's on the Supply Chain not being structured properly. Or having a built in plan in place for when things like this occur. Being able to stay on your feet and pivot when different things like this happen is part of SC responsibility. When you struggle with communication others speaking different languages it shouldn't be a problem in today's day and age. If you don't have a translator there are a ton of apps that can help you understand what others are saying. Also when hiring company's like to look for people who are diverse in other languages for dealing

Disadvantages  With advantages always comes disadvantages and when it comes to the supply chain and globalization there in no outlier. I have three or four that I want to talk about in this post. A large disagreement people like to talk about is political, economic, and environmental instability. "These issues can cause difficulties sourcing the products, materials, and supplies you need when businesses have to close down or are unable to transport goods. This can lead to you not having enough inventory to fulfill customers demand and can hurt both your sales and customers satisfaction."(Donohoe) Problems could also arise where particular customers may have ordered a product but haven't received it yet. An may never receive it at all if it comes to a close or full shutdown. The next one is particular language and communication barriers. Could be difficult to set up meetings and talk to the other side directly. Issues of being misheard could occur as well. This migh

5 Advantages The first advantage in my opinion is the ability to reach customers old and new not only in the US but around the world. What globalization does is simplify different communication tactics to reach business owners, vendors, and customers. When everything is flowing properly it is easy to create relationships and stay connected with customers around the world. Second advantage involves the ability to expand different sourcing opportunities. Globalization makes it possible for business's to get diverse and hard working people, along with materials and products around the world. Products are extremely important because we couldn't always reach out or ship things that today might take two days. Amazon prime and the ability for possible drones in the future make it that much more exciting to me. Next is the availability you have to give your customers a larger variety of goods and services. If globalization is going to increase your sourcing opportunities like i

Understanding Globalization  In the year 2000 the International Monetary Fund (IMF) deemed the definition of globalization as the process of trade and transactions, capital and investment movements, migration and movement of people, and the reach of knowledge. This might sound like a bunch of gibberish to some. It did to me when I first started to learn about it. However to clear up any confusion, globalization is really the process by which people and goods move across borders. There are 5 key components to globalization: International Trade Foreign direct investment Capital market flows Migration Diffusion of technology Everything in this list plays a key factor and without one functioning properly any number of issues could occur. For more information on the basic of globalization you can visit  Globalization Intro  Globalization's impact on Supply Chain "No area of business is more affected by the trend to a global business than the supply chain." (SD