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The world is at risk and the supply chain is not exempt Supply risk used to be defined as the potential for strikes by transport workers, fires at a key supplier's plant, or missed deliveries. That simple vision no longer applies. For the last 50 years, the global economies have benefited from the stability afforded by Pax Group of Seven - the longest period of uninterrupted economic advance.Previously published in: Physical Distribution and Logistics Management, Volume 34, Number 9, 2004
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Today's marketplace is characterised by turbulence and uncertainty. Market turbulence has tended to increase for a number of reasons. Demand in almost every industrial sector seems to be more volatile than was the case in the past. Product and technology life-cycles have shortened significantly and competitive product introductions make life-cycle demand difficult to predict. At the same time the vulnerability of supply chains to disturbance or disruption has increased. It is not only the effect of external events such as wars, strikes or terrorist attacks, but also the impact of changes in bu
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Inventory control. Purchasing management --- Industrial procurement. --- Purchasing departments --- Management.
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