Video Summary
Technologies Reshaping Global Chain Management
The world is undergoing rapid change due to technological advancements. Automation, robotics, and online shopping are the leading technologies revolutionizing marketing and global chain management. They are changing the way we operate and interact with the world. Automation and robotics are key in transforming global chains and creating a new paradigm. This has changed how businesses operate, as well as how selling, ordering, and delivery are conducted.
Operational Transformation
Automation and robotics are transforming the global chain by eliminating the need for manual labor. They are being used to automate tasks that would have been done by humans, such as in markets and warehouses (Wall Street Journal, 2023). It helped automate processes that were mainly done by humans and created products that would have been impossible without them. This means that global chains can be produced faster, cheaper, and in greater quantities than ever.
They are being used to create robots that can perform tasks that humans cannot, such as welding, drilling, and painting. Robotics is also used to create robots that can perform tasks that are impossible for humans, such as picking up objects in space. This means that businesses can create products of higher quality and in shorter times.
Efficiency, Cost Reduction, and Customer Interaction
The global chain is also affected by automation and robotics in other ways. Automation and robotics are making it easier for businesses to interact with customers and track and analyze data. Automation and robotics are helping businesses to increase efficiency, reduce costs, and enhance customer service. They are creating a new paradigm of business operations and transforming how we interact with the world (Wall Street Journal, 2023). Automation enables companies to manufacture goods more efficiently, at lower costs, and in larger quantities. Automation and robotics also allow businesses to interact with customers in new and innovative ways.
Subcontract Delivery in Global Chains
The global chain will continue to evolve, and businesses must adapt or risk being left behind. Global chains will be more efficient with the incorporation of subcontract delivery, as it allows them to leverage the expertise and resources of subcontractors. They provide the necessary materials, labor, and any specialized services that may be required (Wall Street Journal, 2023). This enables global chains to expand their production capacity and lower costs, while concentrating their own resources on managing their own operations.
Subcontract delivery also allows delivery companies to access new markets and technologies. By partnering with a subcontractor, the chain can access new sources of raw materials and labor, as well as gain access to new technologies and knowledge. This allows them to gain a competitive advantage and increase their profits.
It also enables firms to manage their inventories more effectively and enhance customer service. By partnering with subcontractors, they can better manage their supply chain, ensuring all the necessary materials and components are in stock (Wall Street Journal, 2023). This reduces the need for costly inventory management, allowing the chain to focus on customer service.
Personal Opinion
I agree with the speaker because automation has enabled online marketing and delivery to reduce the risks associated with this industry. By partnering with a subcontractor, the chain can spread the risk of delivery failure, ensuring that they are not solely responsible for any issues with delivery. This reduces their overall risk and can lead to increased profits. Therefore, marketing can be beneficial and efficient in terms of cost savings, access to new markets, improved customer service, and better risk management.
Reference
Wall Street Journal. (2023). Why global supply chains may never be the same | A WSJ documentary [Video]. YouTube. Web.