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Globalization- The Key Challenge of Modern Supply Chains

Author

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  • Milovanovic, Goran
  • Milovanovic, Slavoljub
  • Radisavljevic, Goran

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.

Suggested Citation

  • Milovanovic, Goran & Milovanovic, Slavoljub & Radisavljevic, Goran, 2017. "Globalization- The Key Challenge of Modern Supply Chains," Ekonomika, Journal for Economic Theory and Practice and Social Issues, Society of Economists Ekonomika, Nis, Serbia, vol. 63(1), March.
    • Handle: RePEc:ags:sereko:290197
    DOI: 10.22004/ag.econ.290197
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    Cited by:

    1. Abe Harraf & Jay M. Lightfoot & Adam Cole, 2022. "Public-Private Partnerships: Policy Prescription during the Era of Pandemics," Eurasian Journal of Business and Management, Eurasian Publications, vol. 10(4), pages 204-211.
    2. Yasmim Maia Pederneiras & Johann Meckenstock & Ana Isabel Cerqueira Carvalho & Ana Paula Barbosa‐Póvoa, 2022. "The wicked problem of sustainable development in supply chains," Business Strategy and the Environment, Wiley Blackwell, vol. 31(1), pages 46-58, January.

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    Keywords

    Demand and Price Analysis; Marketing;

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