A Land of Opportunity: Globalization’s Impact on Industrial Products Manufacturing
Market globalization has gifted manufacturers with a whole range of new opportunities – the ability to reach and deliver products to consumers across the world has truly changed the game. But how did this happen? The globalization of manufacturing became a reality through a number of forces coming together simultaneously. These include:
- A significant change in geopolitical relations between East and West
- The widespread growth of digital information, physical and financial infrastructure, and computerized manufacturing technologies
- The proliferation of bilateral and multilateral trade agreements
These factors, along with others, have enabled supply chains to be broken down into complex global networks. This allows you, the manufacturer, to carry out the sourcing of materials and components, as well as the design and manufacturing of products from virtually anywhere – all while satisfying customers located almost anywhere.