Globalization
The global village has partly been driven by the continued push for better shareholder returns and higher business efficiencies. This proliferated a colossal move to exploit low-cost geographies. It has also created an outsourcing industry that has mushroomed beyond anyone’s imagination. Outsourced and offshore operations have in turn created extended supply chains, which inherently entail increased complexity and risks.
The ability to manage supply chains effectively in this more globalized playing field will increasingly become a critical source of competitive advantage.