The rising dollar, caused in large part by the termination of the Fed’s long-running bond-buying program, has become a key theme among economists, financiers, entrepreneurs and politicians. While the rising dollar is good news for those planning to travel to countries with currencies depreciating against the U.S. dollar and for U.S. workers sending remittances to family abroad, this might not be good news for the U.S. economy – mainly U.S. exporters and multinationals.
Buyer-seller relations can take on many forms, but it’s when they evolve into partnerships that they allow for the leanest supply chains and the highest profits. Such alliances, called channel partnerships, allow buyers and sellers to work together to find distributors and add the most value to their supply chain.
In today’s globalizing economy, demand for low prices has moved many corporations to seek out the lowest bidder for production. Offshore factories and global supply chains have become commonplace, even expected. But as economies around the world begin to bounce back from the recession and advancing technologies allow businesses to operate smarter, the offshoring trend seems to be losing its grip.
Innovation in the supply chain is helping top companies around the world decrease lead times, minimize risk, cut costs and drive growth. To create this type of supply chain innovation in an era of rapidly changing markets, geographic shifts and expanding capabilities brought on by new technologies, successful businesses are increasingly turning to collaboration with other industry members – and sometimes even with competitors.
Mitigating supply chain risk is a leading concern among global business leaders today and one that needs to be addressed on a larger scale. While 76 percent of business leaders consider operations risk management as important or very important to addressing supply chain risk issues, only 37 percent of non-leading companies make risk management a strategic imperative according to Accenture’s recent Global Operations Megatrends study.