THE ROLE OF THE INTERNET IN TRANSFORMING INDUSTRY VALUE SYSTEMS THROUGH GLOBALISATION AND SUPPLY CHAIN INTEGRATION

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Conclusions In conclusion the Internet has played a pivotal role in transforming industry value systems. It has affected some areas in more ways than others. Logistics and operations have been completely transformed in coordination with globalisation while marketing and sales has found new audiences the world over. With technology constantly evolving, supply chain management is changing with it and (with the Internet linking them together) industry value systems are becoming more and more efficient as time goes by. Introduction The Internet has played a major role in transforming industry value systems through globalisation and supply chain integration. Factories all over the world each produce a key component necessary for the production of a particular good/item and thanks to the internet it is now easier than ever to manage these supply chains and get the product from production to shelf as quickly and as cheaply as possible. Globalisation and the Internet Globalisation has had a significant impact on the way companies do business in recent years. It has created an economic environment that has become more connected and competitive. Through the use of internet and technology, distance and time between countries has been reduced significantly thanks to more efficient logistics and transportation and better networking between organisations. It is now easier than ever for companies to purchase products from different parts of the world and manage those supply chains, especially as many of the links in these chains can be automated. Without the Internet, continued communication and coordination amongst these worldwide suppliers would be more difficult. Globalisation doesn’t come without its problems though. It has presented ... ... middle of paper ... ...ehouse stores operating in the USA and select countries around the world. The company is the world’s second largest public corporation. [4] Many factors have contributed towards this success. Walmart operates a Just-In-Time inventory management system. In order to uphold the effectiveness of their Just-In-Time policy in driving down excess stock and costs, Walmart work directly with their suppliers from all over the world to ensure that they meet strict supply chain management requirements. “Lead-time requirements” and “Timely Shipping” are just two of the requirements imposed by Walmart on their suppliers. [5] Walmart has also been using RFID technology (radio-frequency identification) for about a decade and as a result their supply chain management has benefited greatly. [6] They also operate an online store with the option to deliver or reserve for store pick-up.

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