Agile supply chain management a prerequisite to inflation in globalized economy

Zaid B. Owais
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Zaid B. Owais: Karoly Ihrig Doctoral School of Management & Business, Faculty of Economics & Business, University of Debrecen, Hungary

SEA - Practical Application of Science, 2023, issue 31, 15-28

Abstract: Globalization is in no doubt influencing companies pricing choices and price determination, as a result influencing the supply chain, increasing changes and issues in global economy, proposing a need for comprehensive analysis in order to better understand inflation dynamics and sort a worldwide commonality by adding variables to the typical inflation models to incorporate globalization with inflation dynamics, as the supply chain grows bigger the more complicated it gets, therefore it becomes less adaptive, a bigger more diverse supply network enhancing product variety is proposed to create more supply agility and improve supply performance, also this agility seems promising in terms of improving collaboration and communication which is already challenge on a domestic scale, not to mention a globalized one, the composite supply chain challenge must be addressed by expanding global supply chain models to encompass both internal production and external supplier, providing enough layers of suppliers interaction in sourcing significant components, in which is a key feature of agile practice, enabling limitless flexibility in terms of product capability, allowing rapid lead times when combined with industry.

Keywords: Supply Chain; Globalization; Agile Management; Economy (search for similar items in EconPapers)
JEL-codes: F60 L11 M11 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:cmj:seapas:y:2023:i:31:p:15-28

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