The biggest challenge being faced by businesses today involves trying to respond appropriately to consumer demands when the frame and basis of competition is constantly on the move. As the “Iron Curtain” is lifting, businesses around the world are experiencing competition on global scale. As the supply for products increases while the demand is shaky, the need for supply chains and logistics increases. With new innovative technologies arising daily, companies need to store and ship their goods as efficiently and cost effective as possible. While globalization offers new opportunities, it also poses new challenges within the world of business.
Breaking the Iron Curtain, Globalization
Exports from Asia to North America and Europe are no longer the driving force behind logistics. As consumer demands become more volatile and unpredictable, the need to meet these demands is resulting a shift in world trade. Often times, a product is manufactured in one country, developed in another, and shipped off to several more. This drive to meet consumer demands calls for a more efficient and practical way to distribute goods to several sources. The trade barriers between countries are being eradicated due to globalization and it has become the standard. Logistics providers need to enable this trend, therefore there will be an increased demand for supply chains and logistics.
Multi-Channel Sourcing and Complexity
Hundreds of end-consumers are flocking to multi-channel sourcing. This allows the company to have a diverse customer base, and likely customers from more than one country. Supply chains and logistics need to constantly adapt to a changing market. Due to the ever-changing market, supply chains and logistics are become more complex. With different categories of products requiring a different type of supply chain, logistics must adapt to meet the demands of and increasing and unstable market.
The future of supply chains and logistics has a solid foundation as long as logistics keeps adapting the expanding and globalizing market and consumer base.
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