By Sandra Garby, Vice President, Product Management and Founder, RCD Technology
It can be difficult to find a unique description of today's global economy. Many common comparisons or descriptors seem over-used, even trite. Going through this exercise, the words made famous by Disney, however simple, seem fitting and relevant. Business today is truly ‘a small world after all.' Considering this infamous melody, the statement "though the mountains divide and the oceans are wide, it's a small world after all" has never been as true as it is today.
As an example of this small world, and the reality of a global economy in practice, think about the supply chain for an IT Original Equipment Manufacturer (OEM). A product that is developed and specified in the United States may be produced at multiple manufacturing facilities all over the world. Each manufacturing site, whether it is located in Singapore, Vietnam or Ireland, is purchasing components from all over the world. The finished product is then shipped to distribution centers or customers directly – again in locations scattered across the globe. This is what a common supply chain looks like in today's world. Though divided by mountains and oceans, in reality it is small, and it requires an inventory tracking system that provides sufficient, clean and real time data.