Answer to Question #193856 in Management for Peth

Question

Why is global production and supply chain management decisions are of central importance to many global companies?

Answer 1

 Importance of Global Production and Supply chain management

           The global man agent of supply chain enable companies and business organizations to have uniform operation processes internationally hence enabling them to rapidly and swiftly react to unforeseen business situations in the market hence avoiding potential losses. The global production and supply chain management decision making also promotes international cooperation among trading partners hence improving transport strategies through reduced costs. The global supply chain management and production also enable the global companies to eliminate wastes and minimize costs. The concept is therefore generally beneficial to global companies.