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'Globalization: It's a not-so-small world' - Coggle Diagram
'Globalization: It's a not-so-small world'
Flashpoints of 'Globalization' 📸
Lower labour costs
Short-term 🕛👎
Failure to calculate
total supply chain costs of offshoring🧮
Total landed cost 🪙
Inventory holding cost 🪙
Cost of product obsolescence 🪙
setting up your global supply chain, the ultimate best
practice is to go the countries and look for yourself 🌍
Nearshoring - bringing the key supply chain tasks back closer to
home—is the fastest-growing globalization trend.
Technology ⚙️
Increased speed and pace of commerce
Companies of all sizes now think in terms of global
supply chains.
Personal computers 💻
"Flattening" the world 🌍
Container shipping 🛳️
Enormous cargo ships
6,000 or more 20-foot-long containers (known as twenty-foot equivalent units, or TEUs)
Low cost factories for US companies :
Asia
Latin America
Offshoring (lower logistics costs)
Has become a veritable no-brainer for entire
industry sectors
apparel
electronics manufacturers
China
Focal point for offshoring initiatives
US
Sourcing for local countries
Expectation for shipments is high
Workflow software 🌐
Search engines 🔍
Playing by Somebody Else’s Rules
“Striking the Proper Balance”)
deciding exactly where to locate a production or warehousing facility
Here are some key points to focus on when making site selection decisions
overseas:
Is it part of your company’s business strategy to own foreign real estate?
Will your ability to serve certain global markets be enhanced by owning
your own facilities overseas?
How flexible is your market strategy?
How flexible is your market strategy? If the market develops more slowly than anticipated, how easily can you add to or scale back from your distribution resources?
How quickly can you enter and serve the market?
Can you afford to quickly enter and serve the market? ❗