Global Supply Chain Management
Thoughts about managing a global supply chain
Management of the global supply chain using internet agreements and tracking technology is the right step in fully digitizing the supply chain structure and making it more flexible for the global environment. The most visible use of internet has been emergence of electronic commerce as a new form of retail channel. But its impact will be more profound in the area of global supply chain management if the ideas are used. These ideas for managing global supply chain, offer new supply chain models that were unthinkable a few years back.
If the approach is implemented what are the potential benefits
Implementation of Blockchain technology and internet agreement, have the capability of managing extensive information and streamlining business data across various networks resulting in improved reliability and effectiveness. They will offer international businesses the opportunity to automate supply chain processes and ultimately minimize the use of paper work. In addition to that they will help businesses to build trust with their partners because internet agreements and tracking technologies will ensure that every process and compliance needed for the trade is adhered to and proper verification doe
If the approach is implemented what are the potential challenges?
At the moment, several applications are used to support global supply chain; addition of other automated internet agreements can increase the lengthy of implementation cycle which can delay trade operations.
Will major international trade deals still exist in the future? Why or why not?
Yes, but this can only happen if countries embrace the use of internet agreements which allows states to maintain their democracy and pursue trade under their own rules. What has been driving the current international trade are the harmonized global trade rules and agreements. However, this trend is changing and a new approach is needed to sustain the global trade in the future and the answer lies in using internet