With Prices Rising, Agrochemical Factories Take Measures to Resolve Supply Shortages

摘要

MANY COMPANIES GLOBALIZED their sourcing and production of materials in the 1990s. This accelerated after 2001 once China was included in the World Trade Organization.And, as a result, global trade increased from 39% of GDP in 1990 to 58% in 2019.While this shift, along with lean manufacturing strategies, helped reduce costs, it also opened companies to more supply chain risks — everything from extreme weather occurrences to cyber attacks to labor issues.While some things may be changing in how factories conduct business daily to maintain this productivity, other things may never change, such as a customer's desire for low prices. Increased costs can't always be passed on to the customer when competition remains cut-throat.