Introduction
GSCM involves coordinating and managing all activities across the entire supply chain, from the raw materials stage to the delivery of the finished product to the customer. It is a more collaborative approach that seeks to optimize the performance of the entire supply chain rather than just individual parts. Globalization has increased the focus on supply chain management (GSCM). Companies must have a clear understanding of their supply chain and be able to manage it effectively. The globalization of business has led to a more complex and interconnected world, which has had a significant impact on supply chains. The globalization of business has led to companies needing a more coordinated and efficient approach to managing their supply chains. The traditional supply chain management model is no longer adequate in today’s business environment. Global supply chain management (GSCM) has emerged as a more holistic and integrated approach to managing the entire supply chain from end to end. In this context, many strategies for GSCM have emerged from different fields, such as logistics, operations, marketing, management, economics, sociology, personnel, information systems, and international relations. Therefore, in this assignment the focus is on identifying emerging developments and delineating their significance in the practice of GSCM.
Logistics
Logistics is the process of planning, implementing, and controlling the efficient, adequate flow of goods, services, and information from the point of origin to the end of consumption. Globalization of business operations and increased international trade have resulted in the need for more efficient and effective supply chains. Many companies are now using logistics to manage their supply chains more effectively (Nilsson., 2019). Companies are working more closely to share information and resources based on this context. Increasing use of collaborative platforms to manage the supply chain by use of cloud-based applications and social media platforms to share information and coordinate activities across the supply chain. Therefore, the efficiency in the GSCM is improved by the collaboration and integration between companies in the supply chain.
Supply chain management (SCM) is a crucial enabler of the globalization of business operations and is essential for companies that operate in multiple countries. SCM manages the flow of goods and services from the point of origin to the end of consumption. The benefits of using SCM include improved efficiency, increased flexibility, and reduced costs. In addition, SCM provides several advantages for logistics development, including the ability to coordinate activities across multiple supply chain partners, the ability to optimize resources across the supply chain, and the ability to respond quickly to changes in demand. For global supply chain management to be successful, logistics must be considered. With a well-functioning logistics system, it is easier to manage a supply chain on a global scale.
Marketing
The global supply chain management field has seen significant development recently, with a growing emphasis on marketing and development (Manzoor et al., 2021). According to Manzoor et al. (2021), some fundamental methods and perspectives have emerged from this field, highlighting the importance of global supply chain marketing and development. For instance, one key is market analysis to identify opportunities and optimize supply chains. The marketing analysis approach involves data and analytics to ensure the customer understands their needs and preferences and the dynamics of global markets. The information from the analysis is used to develop marketing strategies and plans targeting specific markets and customer segments. Another critical perspective is the importance of global supply chain coordination. The importance of GSCM involves aligning supply chain activities across different geographical regions to meet customer demand efficiently. The coordination can be achieved through various tools and technologies, such as supply chain management software.
Considering the role of global supply chain marketing and development in the context of corporate social responsibility (CSR) is essential. CSR is an important consideration for any company operating in a global environment, and supply chain marketing and development can play a role in helping to achieve CSR objectives. (CSR) ensures that the company’s supply chain is operating in a way that is consistent with the company’s CSR policy. This includes ensuring that suppliers are treated fairly, workers have safe and healthy working conditions, and minimizing environmental impacts. However, the GSCM marketing and development team should also work to ensure that the company’s supply chain is transparent and that information about the company’s supply chain practices is readily available to stakeholders. Also, marketing management is responsible for creating demand for a company’s products or services since, without demand, there would be no need for global supply chain management. Marketing management is also responsible for developing and managing relationships with customers. These relationships are essential to the success of global supply chain management, as they ensure that customers are receiving the products or services they need when they need them.
Economics
The globalization of business has led to the development of global supply chain management. Globalization has significantly impacted economics, as it has allowed for the efficient allocation of resources and the coordination of production across borders. Global supply chain management has also impacted how firms operate, as they have had to adapt to a more complex and competitive environment. It is widely accepted that the globalization of business has led to the development of more complex supply chains. In response to this trend, several studies have been conducted from an economic perspective to better understand this phenomenon’s drivers and implications. One of the key findings from this research is that the globalization of supply chains has led to many vital changes in how firms operate. In particular, firms have had to become more efficient in their use of resources. They have had to develop new capabilities in order to be able to compete in global markets (Pettit et al.,2019). Global supply chain management is a process that includes the flow of resources, information, and finances as they move in a circle from supplier to manufacturer to wholesaler to retailer to consumer. Economics is a social science that studies the production, distribution, and consumption of goods and services. It is essential to developing global supply chain management because it helps to understand how resources are used and how they impact the economy.
Operations
The first perspective is the global supply chain management operations as a value chain. The operations of the global supply chain management can be seen as a value chain, where each link in the chain contributes to the overall value of the final product or service (Tönnissen & Teuteberg.,2020). The value chain perspective highlights the importance of global supply chain management operations in creating value for the customer. The second perspective is the global supply chain management operations as a network. The operations of the global supply chain management can be seen as a network of activities where each link in the network contributes to the system’s overall efficiency. The network perspective highlights the importance of global supply chain management operations in coordinating the activities of the various links in the supply chain. The third perspective is the global supply chain management operations as a system. Global supply chain management operations can be seen as a system of activities where the various elements interact to produce the desired output. The system perspective highlights the importance of global supply chain management operations in coordinating the activities of the various elements of the system. Operations play a significant role in the development of global supply chain management. They ensure that materials and products flow smoothly and efficiently through the supply chain, from suppliers to customers. In addition, operations help to coordinate and integrate the activities of different supply chain partners, such as manufacturers, suppliers, distributors, and retailers.
Sociology
Some methods and perspectives have emerged due to sociology development in global supply chain management, for instance, social network analysis, actor-network theory, and sociological institutionalism. These approaches have helped investors understand how global supply chains function. The systems have provided insights into the various actors involved in global supply chains and the relationships between them(Silva & Figueiredo,2020). Sociology has helped to create an understanding of the different cultures that exist within different countries and how they can impact the way businesses operate. For example, sociology has provided an account of how people interact with each other and how these interactions can impact the efficiency of supply chains. The sociology of global supply chain management has been critical in understanding the development and operation of these networks. Thus, the development of global supply chain management has been greatly influenced by sociology.
Technology and personnel
There is a trend toward increasing transparency in global supply chains. Companies are sharing more information about their supply chains with their stakeholders, including customers, suppliers, and employees. The trend is driven by several factors, including the need for companies to be more responsive to customer demands for transparency and the desire of companies to improve their supply chain management. Based on emerging technologies several new technologies are emerging that are changing the way global supply chains are managed. These technologies include advances in transportation and logistics, information technology, and communication technologies. These technologies make it possible for companies to track their supply chains more effectively, communicate with their suppliers more quickly, and transport goods more efficiently. This makes it easier for companies to connect with their suppliers and customers and manage the flow of goods and services.
Several factors influence the development of global supply chains due to personnel. First, reducing costs is essential for companies in order to remain competitive. This pressure comes from shareholders, customers, and other stakeholders who demand that companies be more efficient in their use of resources. In response to this pressure, companies are looking for ways to optimize their supply chains and use emerging technologies to reduce costs. In addition, the nature of competition in global supply chains is changing. In the past, the competition was primarily based on price.
Conversely, companies increasingly compete based on quality, service, and other factors. The change is forcing companies to rethink their supply chain strategies and focus more on creating a competitive advantage. Finally, there is an increasing focus on sustainability in global supply chains. This trend is driven by several factors, including the need to reduce the environmental impact of supply chains, the desire to improve social and economic conditions in developing countries, and the need to address the issue of climate change. However, companies are working to improve the sustainability of their supply chains by adopting practices such as using renewable energy, reducing waste, and improving working conditions.
Information System
A few global supply chain management development strategies are emerging from information systems. (Pettit et al., 2019). One method that is emerging is the use of big data and analytics to improve supply chain management. The use of big data and analytics are used to track data points throughout the supply chain, such as production data, inventory data, and shipping data. Thus, the tracked data is then analyzed to help identify trends and issues in GSCM. Another perspective is using block chain technology to improve supply chain management. Block chain technology is mainly used to create a decentralized record of all transactions throughout the supply chain. The decentralized ledger is then used to help track the movement of goods and to verify the authenticity of transactions.
On the other hand, an information system (IS) is a critical component of a GSCM system. Information system helps businesses to collect, store, and process data related to their supply chain. It also provides businesses with the tools and technologies to manage their supply chain effectively. Moreover, a GSCM system’s IS component helps companies plan their supply chain. Businesses can use an IS to develop and manage their supply chain strategy. Again businesses can use Information Systems to identify their suppliers and customers and to plan their production and distribution process. Finally, IS aids businesses in controlling their supply chain. Companies use information systems to monitor and control their supply chain. They can use it to track their KPIs and to make changes to their supply chain strategy.
International Relation
The methods and perspectives that are emerging from international. Their focus is on the role of international institutions in promoting and regulating Global Supply Chain Management. The globalization of corporates has led to the development of global supply chains (Malesky & Mosley., 2018). International relations play a significant role in the management of these supply chains. The international community has developed many institutions and agreements that facilitate the smooth flow of goods and services worldwide. These include the World Trade Organization (WTO), which sets the rules for international trade, and the International Chamber of Commerce (ICC), which provides a forum for businesses to resolve disputes.
Still, based on international relations, many regional and bilateral agreements have been concluded that provide preferential treatment for specific trade flows. For example, the North American Free Trade Agreement (NAFTA) between the United States, Canada, and Mexico has developed a highly integrated North American supply chain. Nevertheless, the international relations field also includes some organizations concerned with developing global supply chains. The United Nations Conference on Trade and Development (UNCTAD) is one of the most important. UNCTAD has been involved in developing several initiatives to promote the smooth functioning of global supply chains. The significance of international relations in developing global supply chains is clear. International cooperation is essential for efficiently managing supply chains that span the globe.
Conclusion
In conclusion, global supply chain management is a critical aspect of the globalization of business operations. It is essential for companies that operate in multiple countries to manage their supply chains effectively. Supply chain management helps optimize resources and respond quickly to changes in demand. Marketing and development play a vital role in the success of global supply chain management, as they help create demand and develop customer relationships. Economics and sociology have also been influential in developing global supply chain management, as they have provided insights into how global supply chains are organized. They have helped to create an understanding of the different cultures that exist within other countries (Nilsson.,2019). Information systems play a significant role in developing global supply chain management. It allows companies to manage and coordinate their supply chain activities and track and monitor their supply chain’s performance. Besides, information systems can help improve supply chain management’s efficiency and effectiveness by providing real-time information and data analysis. Global supply chain management personnel coordinate and execute supply chain activities. They work to ensure that goods and materials are delivered to customers in a timely and efficient manner. Additionally, personnel in GSCM are responsible for developing and maintaining relationships with suppliers, customers, and other stakeholders.
References
Nilsson, F. R. (2019). A complexity perspective on logistics management: Rethinking assumptions for the sustainability era. The International Journal of Logistics Management.
Manzoor, U., Baig, S. A., Hashim, M., Sami, A., Rehman, H. U., & Sajjad, I. (2021). The effect of supply chain agility and lean practices on operational performance: a resource-based view and dynamic capabilities perspective. The TQM Journal.
Silva, M. E., & Figueiredo, M. D. (2020). Practicing sustainability for responsible business in supply chains. Journal of Cleaner Production.
Pettit, T. J., Croxton, K. L., & Fiksel, J. (2019). The evolution of resilience in supply chain management: a retrospective on ensuring supply chain resilience. Journal of Business Logistics.
Malesky, E. J., & Mosley, L. (2018). Chains of love? Global production and the firm‐level diffusion of labor standards. American Journal of Political Science.
Tönnissen, S., & Teuteberg, F. (2020). Analyzing the impact of blockchain-technology for operations and supply chain management: An explanatory model drawn from multiple case studies. International Journal of Information Management, 52, 101953.
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