Globalization - the Key Challenge of Modern Supply Chains

The aim of the paper is to present challenges generated by globalization in modern supply chains. First, authors point to the fact that, today, companies cannot successfully fulfill the requirements of customers and increase global competitiveness without establishing close relationships with key su...

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Bibliographic Details
Published in:Ekonomika (Niš, Serbia) Serbia), 2017, Vol.63 (1), p.31-40
Main Authors: Milovanovic, Goran, Milovanovic, Slavoljub, Radisavljevic, Goran
Format: Article
Language:English
Subjects:
Alliances
Business Economy / Management
Cooperation
Costs
Developing countries
Economic growth
Economies of scale
Globalization
Hedging
Infrastructure
LDCs
Logistics
Multinational corporations
Product life cycle
Studies
Suppliers
Supply chain management
Supply chains
Supranational / Global Economy
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Summary:The aim of the paper is to present challenges generated by globalization in modern supply chains. First, authors point to the fact that, today, companies cannot successfully fulfill the requirements of customers and increase global competitiveness without establishing close relationships with key suppliers and without better coordination of internal and external flows of materials. Then, the focus shifts to the importance of harmonizing relations with suppliers and distributors to increase the company’s supply chain resilience to global environmental impacts. The final part presents responsibility of production managers, procurement managers, and other professionals to implement strategies that would enable the development of flexible and cost-efficient supply chains, more resistant to environmental changes.
ISSN:0350-137X
2334-9190
DOI:10.5937/ekonomika1701031M