Q1) Globalization Has Brought About Dramatically Change

Q1) Globalization has brought about dramatically change in terms on how manufacturers operate as now they are exposed to new customers as well as to greater competition. as a result, relationship with the supplier as well as the raw materials are nowadays managed on globalized scale. This has resulted in the evolution of manufacturing process from simple assembly line to complex systems. thus manufacturers nowadays manage multiple product lines in which the products are assembled from parts produced from different suppliers. Globalization has led to the formation of supply chains which are complex, large and business critical as compared to early periods. Manufacturers now requires management skills in order to manage logistics, that is to†¦show more content†¦This is due to the fact that nowadays along with the low cost consumer also gives importance value in market. The company’s there for experiences a huge amount of competition on the basis of value of produce alo ng with the cost. This is due to the shift from a world of seller power to one of buyer power, now the entire market is controlled by customers who are becoming more and more self-conscious and individualistic. The current scenario depicts that each and every product and services produced should address customer’s individual needs and wishes effectively which has become one of the basic expectation of the modern customer from a business relation. this could have been a problem if each and every customer demand was to be dealt as unique and completely different which is generally not the case. The possibility for personalization of products i.e. selecting a desired configuration from a set of combinations which the manufacturer offers. This changes the logic of manufacturing process as now the product doesn’t have to be ready for prompt delivery and are manufacture on request. Hence some of the previously employed techniques has become relevant as they work well with th e e business. 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