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Global applications of Supply Chain Management
Global supply chains pose challenges regarding both quantity and value. Supply and value chain trends include:
- Globalization
- Increased cross-border sourcing
- Collaboration for parts of value chain with low-cost providers
- Shared service centers for logistical and administrative functions
- Increasingly global operations, which require increasingly global coordination and planning to achieve global optimums
- Complex problems involve also midsized companies to an increasing degree
The above trends offers many benefits for manufacturers because they make it possible for larger lot sizes, lower taxes, and better work environments, etc for their products.
There are several other challenges presented by a global supply chain. This is primarily because with a supply chain of a larger scope, the lead time is usually longer and there may be other problems such as multiple currencies, different laws, different trading protocols, etc.