Managing Supply Chain in Emerging Markets (EMs)
DOI:
https://doi.org/10.47672/ajscm.1741Keywords:
Managing Supply Chain, Emerging Markets (EMs), Globalization, Geographical Boundaries, Traditional Supply Chains and Market CapitalizationAbstract
Purpose: This article examines the potential benefits and drawbacks of supply chain management in emerging markets (EMs). The purpose of this essay is to provide fresh insights for supply chain managers operating in emerging markets (EMs), emphasizing the need of having a comprehensive understanding of the social, political, and economic dynamics of the area. The goal of the study is to highlight the significance of developing strong relationships with local stakeholders as well as the value of effective communication and trust.
Materials and Methods: This research employs a comprehensive method to investigate the intricacies involved in supply chain management within emerging economies. It includes a thorough analysis of the social, political, and economic variables affecting regional dynamics. The technique involves investigating how technology, in particular data analytics and blockchain technology, may improve the efficiency and transparency of supply chain processes. This study also looks at the effects of training local staff to deal with the difficulties brought on by the quickly changing regional and global dynamics.
Findings: The results show that supply chain managers have to adjust to sudden changes in the infrastructure and legal systems of emerging countries. Acquiring adaptability is essential for handling these uncertainties. It is important to establish robust associations with regional suppliers and distributors, and to underscore the significance of trust and communication in mitigating risks. The study highlights how cutting-edge technologies like block chain and data analytics may enhance the general efficacy and transparency of supply chain operations in EMs.
Implications to Theory, Practice and Policy: The study's findings suggest that supply chain managers in developing nations should design thorough risk management plans that consider political, economic, and operational variables. A flexible supply chain strategy should not be hindered by changes in the law or in the infrastructure. It is recommended that modern technologies, such as block chain and data analytics, be used to improve the efficiency and openness of the supply chain. To ensure that local employees are prepared for the complexity of regional and global dynamics in rapidly growing marketplaces, it's also a good idea to invest in their training.
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