Demographic shifts that vary by geographic region will transform supply networks in the coming years, says Fariborz Ghadar of the Penn State Smeal College of Business, and supply chain professionals should keep these shifts in mind as they plan for the future.
The natural disasters in Japan wreaked havoc among supply chains worldwide. As the world’s third-largest economy, Japan’s suppliers are vital and their partners are feeling the effects. Smeal’s Christopher Craighead assesses the situation by detailing three characteristics that make this disaster severe. He suggests mechanisms companies can put in place to lessen the impact of future disasters.
Smeal's Christopher Craighead weighs in on how the BP oil spill and other natural disasters impact business across the globe. He admits that major interruptions occur every year but their impact is hard to determine until the event completely unfolds. He also stresses that companies, especially those who do business globally, should plan to deal with disruptions, even if that means rethinking the design of their supply chains.
After examining issues surrounding sourcing from low-cost countries (LCCs), a group of researchers from Smeal determine the areas of greatest concern to logistics managers. Their results help firms understand which issues should be top priorities to improve logistics performance when dealing with suppliers in LCCs.
For any company, being short on the supply of critical goods can be costly and disruptive. Smeal's Chris Craighead suggests that managers consider the risks involved with each supplier during the supplier selection process to avoid costly disruptions and potentially save millions of dollars.