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As Asia rises, CEOs focus on procurement and supply chain

Asia's rise in the world market has more than one CEO paying attention ““ and for good reason. A recent publication from the Asian Development Bank expects that Asia will comprise two-thirds of the world economy by 2030, up from the one-third that Asia currently makes up today. What does this mean for the rest of the world? To put it simply, it changes everything. Competition for suppliers will increase, as will the impact of poor decision making by suppliers on big name companies across the world. This article found on Business Inquirer uses the example of the Japanese tsunami to illustrate how supply chains can have a dramatic effect on the ability of distant (and larger) companies to compensate with the global impact. But it isn't an impossible task ““ as the article goes on to state, there are already solutions in place to help: Finally, as the need for supply chain risk management, sustainability, ethical practices, cost reduction and procurement and supply management strategy occupy a greater part of boardroom discussions, it is good to know that knowledge of best practices, trends, implementation programs and technical skills is available””there is no need to reinvent the wheel. Technology is also in sync with these strategic thrusts, enabling implementation of strategic procurement. One cannot doubt the impact that Asia will have in the future of world business and supply chains ““ and CEOs are smart to put in place safeguards and best practices which will allow procurement and supply chain health for the years to come.

About Matthew Kabik

Matthew Kabik is the former Editor of Computer Aid's Accelerating IT Success. He worked at Computer Aid, Inc. from 2008 to 2014 in the Harrisburg offices, where he was a copywriter, swordsman, social media consultant, and trainer before moving into editorial.

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