29 Nov Importance of supply chains on the global economy
Supply chains thrive in a stable and prosperous customer market, capital market, and political environment. Uncertainty in these, forces more short – term rather than long term capital supply and demand planning, investment, production, distribution, expansion and risk taking. Long term investment for long term prosperity becomes less important to most, simply trying to cope and survive. Also the value of a company’s inventory, accounts payable, and accounts receivable may rise or fall as currency and uncertainty continues. Lastly, credit for major investment in factories, machine tools, and goods and services becomes more expensive and rare.
Operations and supply chain management professionals play key roles in uncertain times like these. They are more efficient with assets, add greater worth to value chains, and forecast and respond with greater accuracy to changes in supply and demand. Doing this adds value back into the global economy, creates more prosperity, and eventually helps pay back existing debt.
So go out and hire a Supply Chain Professional – TODAY!