This week we reviewed global logistics, risk management, and the product and supply chains. Identify and describe the global market forces, risks, development chain, supply chain, and strategies from one of the following perspectives.
Supplier
Manufacturer
Retailer
Customer
Decision Maker
Sample Solution
- Global market forces: As a supplier, you need to be aware of the global market forces that could impact your business. These forces include things like economic growth, political stability, and trade policies. For example, if there is a recession in a major market, it could lead to a decrease in demand for your products.
- Risks: As a supplier, you also need to be aware of the risks that could impact your business. These risks include things like natural disasters, supply chain disruptions, and product recalls. For example, if there is a natural disaster in a region where you source your materials, it could lead to a shortage of materials and a delay in production.
- Development chain: The development chain is the process of taking a product from conception to the customer. As a supplier, you play an important role in the development chain. You need to work with manufacturers to ensure that your products meet the quality standards of the customer. You also need to work with retailers to ensure that your products are available in the right markets.
- Supply chain: The supply chain is the network of organizations that are involved in the production and delivery of a product. As a supplier, you are part of the supply chain. You need to work with other organizations in the supply chain to ensure that products are produced and delivered efficiently and cost-effectively.
- Strategies: As a supplier, you need to develop strategies to manage the global market forces, risks, and development chain. These strategies could include things like diversifying your markets, building relationships with key customers, and investing in new technologies.
Here are some additional considerations for suppliers:
- Compliance: As a supplier, you need to comply with the laws and regulations of the markets you operate in. This includes things like safety standards, environmental regulations, and labor laws.
- Sustainability: Suppliers are increasingly under pressure to operate in a sustainable way. This means reducing your environmental impact and ensuring that your products are produced in a fair and ethical way.
- Innovation: As a supplier, you need to be constantly innovating to stay ahead of the competition. This means developing new products, improving your production processes, and finding new ways to reach customers.