Describe your personal views on global supply chain management and how you plan to be a part of the field.
In today’s global economy companies can no longer compete if they don’t establish collaborative relationships that expand beyond their own organization. In my opinion, Global Supply Chain Management has become increasingly important as companies look for growth opportunities in other countries as a way of increasing their global presence. It is my understanding that in order for countries to do global trade, they need to have attractive fiscal and monetary policy in order to attract foreign direct investment. Most developing countries have recovered from the economic crisis and are growing at the fastest pace they can sustain without increasing inflation. Foreign governments have a big responsibility if they want to create business opportunities for multinational companies. It is their duty to give a lot of thought to how they would respond to global tightening. That’s why I think that by improving the long-term trade outlook and coming up with acceptable reform agendas can certainly go a long way when the emerging economies are trying to boost investor and market confidence.
Companies such as Boeing, Pepsi, and Oracle are a few companies who are utilizing a vertical integration approach when trying to manage materials, manufacturing, and distribution. One way to view this opinion is whenever a company deals with a supplier that helps provide the next phase of the supply chain, both benefit from each other’s success. I think that businesses look for external suppliers because they are able to provide high quality goods at a minimum cost. Also, it helps shift the inventory risk from the company providing the end product to the consumer. Another key point to note is that maximizing company performance does not necessarily mean that one needs to focus on a