The Influence of Globalization on Supply Chain Strategies
Globalization has profoundly influenced supply chain strategies by expanding sourcing options, requiring efficient transportation and logistics networks, emphasizing risk management, and driving the adoption of technology. Businesses are adopting agile and flexible strategies to balance cost efficiency with responsiveness. Cultural differences, language barriers, and regulatory complexities are challenges that companies must navigate in global markets. Adapting to the influence of globalization is crucial for long-term success in today’s interconnected world.