Dynamic Supply Chains, 3rd Edition

CHAPTER 1

Coping with market volatility: the ‘new normal’

Making the case for a new paradigm in supply chain design

During 2008 the world changed in a precipitous way as the global financial crisis (GFC) hit and the ensuing global recession affected people across the world. The flow of money froze, and so did the corresponding flow of goods and services. What had been obvious for some time became painfully clear – we need to move away from the old static view of business and embrace a more dynamic business model. By reinvigorating moribund supply chains, we can capture the dynamism that people bring to the flow of goods and services inside and outside an enterprise. We can do this by embracing a new definition of supply chains that recognizes ...