What key changes were needed to transition to a global supply base?

In order to transition to a global supply base, several key changes were needed. Firstly, organizations had to reevaluate their sourcing strategies and shift from local or regional suppliers to global suppliers. This required extensive research and due diligence to identify reliable suppliers in different parts of the world. Additionally, companies had to adjust their communication and collaboration practices to overcome language and cultural barriers. Efficient communication channels and technologies became crucial for maintaining effective relationships with suppliers and ensuring smooth operations. Moreover, organizations had to invest in supply chain management systems to track and manage inventory across various locations, as well as establish robust risk management strategies to mitigate any potential disruptions caused by political, economic, or environmental factors. Overall, the transition to a global supply base demanded a holistic approach encompassing strategic sourcing, effective communication, technology integration, and risk management.

This mind map was published on 27 November 2023 and has been viewed 127 times.