personal “ internet field trip ” …… post B u s i n e s s F i n a n c e
Internet Field Trip (complete) conduct (take) a personal “internet field trip” …… post your findings as it relates to Global Supply Chain Management and the Supply Chain Manager. (Find any recent web article (no older than two/three years from today) and relate your findings on how the Supply Chain Manager is making a difference in today’s global markets). Recommend you use the key word(s) “Supply Chain Management “or “Supply Management” in your search
here are the 2 students for reply (100 word count)
Good Morning Class and Professor,
Thank you for visiting my forum post this week, it is greatly appreciated. This week for my online field trip I found two great articles that helped me decipher how a supply chain manager would go about managing the current global supply chain. My research gave me a different perspective than I had before, the global market was heavily impacted by the COVID 19 pandemic and the stress the pandemic put on the domestic supply chains and economies. While the global supply chain is still always important to any entity looking to expand internationally, the pandemic allowed organizations to pinpoint the weaknesses in their domestic supply chains. High tariffs and rigid import/export policies have hindered the global supply chain for years but when the pandemic hit organizations were forced to meet their communities needs strictly within our own borders. According to Harvard Business Review, in order for any entity to stay competitive in todays global and domestic market, process innovations are the way to go. This includes automation capabilities, processing technologies, additive manufacturing, and continuous flow manufacturing. If an organization is willing to hone its technological and automated processes it is likely to rise in the global market. Gartner outlines needs such as creating resiliency plans, planning process investments, creating visibility in critical supply chains, and more to effectively manage a global supply chain for any organization. Scenario planning, open collaboration internally and externally, prioritizing specific supply chain segments, and preparing for supply chain volatility are key components of managing a successful global supply chain as well.
Shih, W. (2020) Global Supply Chains in a Post-Pandemic World. Supply Chain Management Harvard Business Review. Retrieved from https://hbr.org/2020/09/global-supply-chains-in-a-post-pandemic-world
Gartner. (2021) Trends in Global Supply Chain Management. Supply Chain Insights. Retrieved from student 2:
I found an interesting article at the Harvard Business Review website titled, “Global Supply Chains in a Post-Pandemic World” (Shih, 2020) this article stood out to me as we have all recently been made aware of the effects the pandemic has had on our supply chains. The article goes over some of the, “supply shock that started in China in Feburary and the demand shock that followed as the global economy shut down” (Shih, 2020) which helped industry leaders find areas to improve their supply chains elasticity. The article largely points to the need for companies to do a better job “uncovering and addressing hidden risks” post pandemic. This would include companies identifying areas in which they are vulnerable to shut downs or bottlenecks and addressing how to shore up those weaknesses. The pandemic exposed areas in which some companies had never dreamed of issues occurring such as global lock downs. The article also calls for companies to begin, “Diversifying their supply bases” (Shih, 2020) in which companies will work with several suppliers and have back up plans in place in the event their first choice goes under. This was taught to me as risk mitigation or business continuity in my class last term Risk Management: Supply Chain. The last thing the article goes over is carrying extra stock in the event that shortages occur again. This last line item I am concerned with as it is counter to a lean inventory business model and therefore may create bottlenecks as well ie money sitting on the shelf not moving, time and data will tell though.
Shih, Willy. “Global Supply Chains in a Post-Pandemic World.” Harvard Business Review, 23 Nov. 2021, https://hbr.org/2020/09/global-supply-chains-in-a-post-pandemic-world.