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Global Supply Chain Security
The goal of a global supply chain security strategy goes past safeguarding goods in transit. It also includes minimizing disruption to the supply chain, which can arise as a result of various problems, like operational hiccups, natural disasters, or even governmental instability in parts of the world (see Ukraine currently). Because of this, good strategy requires the establishment of resilient systems that are capable of recovering from such unexpected disruptions. At the same time, compliance with international and local laws is a major component of a secure supply chain strategy, since non-compliance can result in significant disruption to operations if goods are detained at borders. Plus, this strategy has to ensure visibility and control, i.e., there are solid systems for tracking and tracing goods in transit and for monitoring operations across the entire supply chain. Ultimately, a comprehensive risk management plan should be the essence of strategy. This means giving due regard to potential risks and threats, assessing their likely impact, and developing mitigation strategies to manage them. This paper explores these issues in relation to global supply chain security.
Global supply chain security strategy should ideally be an integral part of the supply chain design from the very beginning. Because of the interconnected nature of global supply chains, security considerations must be integrated into every aspect, from sourcing and production to...…malware, or data theft, aim at disrupting operations or stealing valuable information. Geopolitical threats, such as political instability, war, or trade disputes in regions vital to the supply chain can pose significant risks. Lastly, natural and environmental hazards, such as natural disasters, environmental changes, or pandemics, can pose significant risks to supply chains.
In conclusion, the goal of a global supply chain security strategy is not only to protect the integrity of the supply chain but also to ensure the smooth flow of goods and materials and effectively manage risks. Thus, it is important to have a strategy the leans on a deep understanding of potential vulnerabilities and to make it essential to securing…
References
Althaf, S., & Babbitt, C. W. (2021). Disruption risks to material supply chains in the electronicssector. Resources, Conservation and Recycling, 167, 105248.
Mtewa, A. G., Chikowe, I., Kumar, S., Ngwira, K. J., & Lampiao, F. (2020). Goodmanufacturing practices and safety issues in functional food industries. Functional Foods and Nutraceuticals: Bioactive Components, Formulations and Innovations, 613-628.
Supply Chain There are several different attributes of supply chain management. Among them, some stand out as being more important than other. Key aspects of supply chain management include technology, communication/coordination, inventory control and bargaining power (EAUC, 2014). Bargaining power is important because it dictates the terms and conditions of the supply chain. If the buyer has more bargaining than the seller, then the terms will reflect more on the needs of
(Reza, 2009) This information is building off of the findings from Uthayakumar. This is illustrating how the two tier system can help to streamline operations. However, as time goes by these ideas will become obsolete. The reason why is because they are focusing on particular aspect of supply chain management (i.e. during emergencies and backlogs). Where is it is failing, is through understanding how this strategy could be used when
Supply chain management (SCM) is a method for alleviating the way one company finds the raw materials and other components that it requires to produce a product or service and provide it to its customers. The five basic components of Supply Chain Management are planning, source, making, delivering and return. If supply chain standards are applied then the supply chain management could benefit from it a great deal and it
Supply Chain Management at DIMCO The supply chain relates to the entire cycle and process through which raw materials are purchased, processed and developed in to goods and services which can be traded in the market. The management of such a process would involve creating improvements in the supply chain itself to make it more profitable and efficient for the company (Davis, 1993). Therefore the supply chain encompasses not only raw
Supply Chain Ann Supply Chain Management Annotated Bibliography Chopra, S., & Meindl, P. (2010). Supply chain management: Strategy, planning and operation (4th ed.).Upper Saddle River, NJ: Prentice Hall The text by Chopra & Meindl (2010) is an excellent starting point for this discussion, primarily because it serves as a rather exhaustive introductory reading on the subject. Providing academic explanation of the basic premise of supply chain management and an extensive investigation of the
Supply chain management in FMCG sector Fast Moving Consumer Goods (FMCG) Managing supply of FMCGs Demand and Supply Distribution Channel Traditional channel of FMCGs distribution National Vs Global Presence Products and Services Supply chain opportunities Usage of Supply Chain Management Business development Business performance Cost reduction Revenue Increase Inventory management Overall Business Performance Competitive advantage Future trends Issues in global supply chain management: FMCG sector Multi-channel Supply Chain Management Individual Tagging The FMCG sector is represented as manufacturers and distributors of packaged products. They are also coupled with mega retail brands