There are voices today depicting America’s economic straits as “the new normal” – low growth and high unemployment that leaves the country technologically and economically static.
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Information sharing is key, but we have become our own worst enemy.
A procurement department, seeing an opportunity to reach their cost-reduction goals, switches the source of a sub-assembly to another supplier. This seemed perfectly logical; the quality and specs met the requirements. Unbeknownst to procurement, this supplier was noted for delivery outages due to poor infrastructure and transportation systems in its country. So, while the procurement department hit its financial targets by driving cost out of the supply chain, it may have inadvertently also increased the overall company’s exposure to supply chain risk and undue threat to profitability.
The rapid rise of emerging countries such as China, India, Indonesia, Brazil, Mexico, and others means new challenges and new opportunities for the United States. So how will America fare in this latest wave of global competition?