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Running head: GLOBAL MARKET FORCES 1 Global Market Forces Name TLMT 341 American Public University Professor Wallace Burns May 12, 2017
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GLOBAL MARKET FORCES 2 Global Market Forces Today’s supply chain has gone global. A global supply chain is very similar to a domestic supply chain, but the global supply chain encompasses a larger geographic area (Simchi-Levi, Kaminsky, & Simchi-Levi, 2007). A global supply chain crosses international borders, includes people of different cultures, and is subject to local and international laws. The global supply chain has to find ways to work when faced with countries with different politics, laws, customs, expectations, geography, and many more risks. This paper will explore the global market forces, risk management, development and supply chains, and strategies that a supplier may use in a global supply chain. When a supplier begins to expand globally, they will face some of the global market forces. Global market forces are the different factors that will affect a business’s success in a particular market. As a supplier begins to expand into a foreign market, they must compete against established suppliers who have already built trust with other customers (Simchi-Levi, Kaminsky, & Simchi-Levi, 2007). New suppliers will have to find ways to compete against these previously established suppliers. It is a difficult task, but one that can be accomplished. In addition to established suppliers, a new supplier must consider the impact of foreign market exchange fluctuations. The strength of the countries monetary system can greatly affect profits for any new supplier. The supplier will have to monitor the currency fluctuations to maintain a profit margin (Mitchell, 2017). Some global market forces may not even be in the country where a supplier is operating. For example, the civil unrest and potential for war in the Middle East have a major influence on oil prices. As prices rise, costs of operating most businesses will begin
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GLOBAL MARKET FORCES 3 to rise (What Are Market Forces? Definition and Meaning, 2017). The same can be said
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