From the course: International Business and Finance

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International operations and supply chain management

International operations and supply chain management

From the course: International Business and Finance

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International operations and supply chain management

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- [Narrator] For companies operating across borders, a well-managed supply chain is the backbone of success. Global supply chains link suppliers, manufacturers, distributors, and customers across multiple countries. They offer advantages like cost savings, access to international markets and resource optimization. But, they also introduce complexity. Factors such as geographical distance, time zones, cultural difference, and regulatory challenges must be carefully managed. Key challenges in managing global supply chains include supply disruptions, extended lead times, regulatory compliance issues and political and economic risks. Starting with supply disruptions, we need to be aware of and prepare for potential natural disasters, political unrest, or even pandemics. These can all halt production or delay shipments. For instance, during COVID-19, we found that many firms were simply ill-prepared for managing and dealing with the disruptions related to COVID, and that resulted in…

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