Trade policies set by governments and other relevant bodies globally significantly impact the supply chain. They affect the movement of goods and services across borders while influencing the economic performance of businesses and different industries. Therefore, the development of policies needs to be done with the potential impacts in mind. With global trade being a critical component of the global economy that allows countries to access goods and services that they may not be able to produce domestically, the policies need to be developed with this in mind because it drives economic growth and development. However, recent trends in global trade have favoured a narrow range of suppliers, with a heavy reliance on a small number of countries, as the pandemic exposed the weaknesses of the current supply chains. This concentration of suppliers poses significant risks to the global supply chain, and there is a growing need for greater supply diversity. This article assesses the impact of global trade policies on supply chains by first looking into the background of global trade policies.

Supply chain management is an important activity that spans multiple business units, external vendors and internal structures of the organization. With the major trends in business today, like outsourcing, globalization and remote work, there are more supply chain complexities than ever witnessed. Despite this, many companies have not changed how they manage the supply chains, which is a critical part of many businesses. These eight practices can make your supply chain better.

If you are a supplier, manufacturer or retailer, the supply chain is an important component of your business that needs to be taken care of and understood. For most companies, managing supply chains is often a challenge. Most of them miss the opportunities by failing to have a supply chain that adds value because their processes have many errors that cost the company its time and money. Even if your supply chain is doing well, you might still be missing some important opportunities for optimization. The more you can correct these problems and void mistakes, the more your company will get the most from supply chains. Before you can correct the problems in your supply chains, you must first identify them. Here are some common mistakes in the management of supply chains.

Supply chain management is one of the careers that has grown over the years. A supply chain manager is an individual who oversees the ordering and delivery processes of raw materials, products and equipment, as well as other goods that a company needs to do business. A supply chain manager is a person responsible for linking different components of the supply chain, starting from negotiation with the supplier to placing orders, scheduling deliveries and ensuring the employer has all materials needed to meet the demand of the customer. For one to start a career in supply chain management, one should have a bachelor’s degree in business or management. Those with a master’s degree in business administration, especially in supply chain management, finance or engineering, have the upper hand.