Global Supply Chains (GSCs), also called Global Value Chains (GVCs), are international networks connecting production, distribution, and trade across multiple countries. Each country typically specialises based on comparative advantage, producing certain components or services while importing others. Enabled by globalisation, trade liberalisation, and technology, GSCs allow firms to optimise costs and efficiency. Key Characteristics Fragmentation of Production: Production occurs in multiple countries across different stages. Just-in-Time (JIT) Systems: Minimal inventory is maintained, relying on timely deliveries. Hyper-specialisation: Certain regions dominate specific industries (e.g., electronics in East Asia). Interdependence: Economies and firms are tightly linked, making disruptions in one region impactful…
29 April, 2026
Other Resources