Challenges and Opportunities Posed by Emerging Issues and Trends in Supply Markets
a) Improved quality of products
Supply collaboration improves efficiency and quality of products and supply work in collaboration with the purchaser. The competition brought due to globalization leads to improved quality of products offered by the suppliers.
b) Increased variety
Trend like global sources is leading to increased variety of products in the supply market
c) Increased costs
Various trends such as sustainability and globalization are coming with some hidden costs leading to increased costs of products. For instance, global sourcing carries risk in the form of hidden cost or trade-offs which include transportation and logistics costs, delivery performance, service quality, production capacity, and other business factors.
d) Loss of control
Trends such as outsourcing lead to loss of control in some aspects such as quality of the products.