ArticleOpen Access http://dx.doi.org/10.26855/jhass.2024.05.018
Exploring the Effectiveness of Supply Chain Management Strategies in Mitigating the Risks Associated with Globalization
Renyuan Bi
Belarusian State University, Minsk, Belarus.
*Corresponding author: Renyuan Bi
Published: June 12,2024
Abstract
With the deepening of globalization, the position of supply chain management in enterprise operations is becoming increasingly prominent. This paper focuses on the effectiveness of supply chain management strategies in mitigating the risks associated with globalization. Firstly, it analyzes the connotation, characteristics, and value of supply chain management under the background of globalization. Then, it explores in depth common supply chain management strategies, including demand forecasting and planning, inventory management, risk management, and partnership management. On this basis, we focus on the effectiveness of supply chain management strategies in mitigating the risks associated with globalization, including market risk, political risk, natural disaster risk, and technological risk. Finally, suggestions are put forward to improve the supply chain management strategy to further mitigate the risks associated with globalization. The research shows that a reasonable supply chain management strategy can effectively reduce the risks brought by globalization and improve the competitiveness of enterprises. In the context of global economic instability, strengthening supply chain management will help enterprises gain an advantageous position in the fierce market competition. This paper aims to explore the effectiveness of supply chain management strategies in mitigating the risks associated with globalization, in order to provide some useful references and suggestions for enterprises.
Keywords
Supply chain management, Globalization, Risk management, Enterprise competitiveness
References
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How to cite this paper
Exploring the Effectiveness of Supply Chain Management Strategies in Mitigating the Risks Associated with Globalization
How to cite this paper: Renyuan Bi. (2024) Exploring the Effectiveness of Supply Chain Management Strategies in Mitigating the Risks Associated with Globalization. Journal of Humanities, Arts and Social Science, 8(5), 1172-1177.
DOI: http://dx.doi.org/10.26855/jhass.2024.05.018