Amid Intense Competition India Emerging As A Leader In Global Supply Chains: Steven A Altman
FLASH SALE: Subscribe to Swarajya for just ₹999 instead of ₹2999. India has the potential to be a leader in global supply chains, according to US business school professor Steven A Altman. Despite challenges like conflicts, inflation, and recession fears, globalisation is expected to continue advancing. The China Plus One strategy is helping companies diversify and strengthen their business models in the global supply chain.
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FAQ: Amid Intense Competition India Emerging As A Leader In Global Supply Chains: Steven A Altman - Swarajya
Frequently Asked Questions
FAQ: Globalization and India's Role in Supply Chains
1. What are the causes of global supply chain issues?
Answer: Global supply chain issues can be attributed to a variety of factors including unexpected demand fluctuations, trade disputes, pandemics like COVID-19, changes in consumer behavior, and geopolitical tensions. McKinsey's Tom Bartman also discusses in detail how key stakeholders are responding to these challenges in an interview.
2. How is globalization affecting supply chains?
Answer: Globalization has led to interconnected and interdependent supply chains, with goods and materials flowing across borders more freely. Digital globalization, in particular, has ushered in a new era of global flows, impacting how businesses and supply chains operate by enabling digital services and e-commerce on an unprecedented scale.
3. Is globalization of trade coming to an end?
Answer: Despite challenges like COVID-19, war, and inflation, the globalization of trade is not ending. There has been a refinement in supply chains towards emerging markets, with countries like Vietnam emerging as clear winners in this adjustment, as per reports cited in the interview with CNBC.
4. How are emerging markets like India impacting global supply chains?
Answer: Emerging markets, including India, are playing a significant role in global supply chains by offering competitive labor costs, increasing manufacturing capabilities, and sometimes more favorable trade policies. According to expert insights, India may be emerging as a leader in this area due to its robust economic growth and strategic initiatives.
5. What role is artificial intelligence (AI) playing in supply chains?
Answer: AI is becoming an influential factor in supply chains by optimizing logistics, forecasting demand, and enabling more efficient inventory management. Global leaders like Sam Altman are focused on increasing global infrastructure related to AI, including chips, energy, and data centers.
6. How can companies adapt their supply chains in today's globalized world?
Answer: Companies can adapt by diversifying their supply chains, investing in technology to improve transparency and efficiency, and developing strategies to mitigate risks associated with geopolitical issues and trade policies. Continuous learning from global events and expert insights, such as those from McKinsey and HBR, can guide decision-making in this complex environment.
7. What impact does H1B visa policy have on supply chain management?
Answer: The H1B visa policy affects supply chain management by influencing the availability of skilled labor, especially in sectors like IT, which is integral to the digitalization and optimization of supply chains. The number and distribution of approved H1B petitions can reflect the resource allocation by companies toward enhancing their supply chain capabilities.
For information and statements specifically attributed to Steven A. Altman regarding India and its position in the global supply chains, a direct search for his quotes or articles would be necessary, which might be found on platforms like LinkedIn or in business journals where experts often publish their insights.