Geopolitics Makes Domestic Sourcing More Attractive
When a company needs parts and materials, a purchasing or sourcing function will find an appropriate source, negotiate cost and terms, and administer the transactions to complete the procurement. In recent years, a lot of that purchasing activity has gone to the Far East – China, Taiwan, Korea, Vietnam, Malaysia, etc.
A ‘Lean’ Supply Chain Presents Risks and Rewards
Ash from a volcanic eruption in Iceland blankets Europe and closes major airports. In no time, the Boston flower market runs out of tulips, and factories in California shut down for lack of parts. Most people are aware of the supply chain (SC) only when a disruption of this sort brings it into the headlines, but SC professionals deal every day with suppliers, transportation providers, customs brokers, warehouses and schedules that keep the worlds of manufacturing and distribution running smoothly.
