GLOBALIZATION - THE KEY CHALLENGE OF MODERN SUPPLY CHAINS

What is it about?

Abstract 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. Key words: Supply chain, globalization,sStrategy to increase the number of suppliers, strategy to increase inventory levels, operational hedging, financial hedging. JEL Classification: F69, M160.

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