The History and Evolution of the Global Supply Chain

1. The History and Evolution of the Global Supply Chain Over the last century, there has been significant disruption in the global supply chain. Every aspect of how we source, receive, manufacture, and distribute goods has changed. Global supply chains are more complex and efficient than ever before, thanks to the implementation of new management systems, the reliance on naval vessels, container installation, and computer use. We thought it would be interesting to look back at how these chains functioned and the new important things that spread. Supply Chain Before 1900 - Local and Regional Delivery and Manufacturing Aqua Vitae could be the most likely the first example of production with a "truly global supply network." In this case, the supply chain began with slaves transported from Africa to the Caribbean to grow sugarcane imported from India and ended in distilleries in the United States. Of course, if we consider the early stages of supply chain-related areas such as logistics, we must go much further back. Ancient empires from Peru to Rome influenced the development of logistics as a field in its own right, introducing roads, organised labour, transportation, and armies. Considering the land, human resources, food supplies, and property, all of this necessitated a massive organisational effort. VaderanCo are one of the excellent Xero Experts in Australia who canfulfilall of youraccounting and supply chain management needs. Due to the lack of larger transport options and the high cost of moving goods around the world, all parts of a supply chain were kept mostly local from these ancient times until the 18th century. The quantity of goods that could be transported along any part of the supply chain increased exponentially as shipping capabilities expanded. Industrial changes began to change things. With the advent of railway lines, it was faster, easier, and cheaper to transport goods over long distances, although supply chains are often limited only to countries. In the 19th century, uncommon hand trucks and other tools made it easier to carry goods. International maritime trade was in jeopardy as loose goods were stored on ships, and it required considerable effort to load and unload them. © VNCG Page 1 of 3

2. Supply Chain in the 20th Century – From Truck and Storage Development to Standardization and Delivery using Technology In the late 1920s, the introduction of mass production on assembly lines laid the foundation for supply chain management. First successfully implemented by Ford, the idea of making consistent products efficiently at scale has irrevocably changed commerce and supply chains. Containerization, or container shipping, not only increased the amount of space available for goods, but it also increased the speed at which freight moved while reducing costs. The increased speed comes from more effective storage processes and more efficient shipping terminals. This improvement in transportation processes, including the loading and unloading of goods, also called transhipment, has ushered in a new era of globalized trade. Barcodes were another tipping point in the industry, patented over 20 years ago, but finally entering commercial use in the 1970s. Its adoption was spurred by the National Food Chain Association's standards requiring an identification number and subsequent research showing significant increases in profits with "point scale scanning." Once barcodes become an internationally used standard, they can be used for "global and international supply chain monitoring." Working with barcodes needs to have tremendously efficient software that can manage all the aspects of business operations with ease, meet one of the promising Xero Champions in Australia, VNC. Computerization began to gain popularity in the mid-1960s, and IBM launched the first computer asset management and forecasting system in 1967. Prior to the 1960s, performance records and data were captured, sent, and reported on paper. Data computing has begun to simplify planning, and it has created opportunities in many areas including more accurate forecasting, better warehouse, truck route and better inventory management. The first real-time asset management system was introduced in 1975, making it easier to track orders, inventory and distribution and leading to greater efficiency. At the same time, barcodes make it much easier to scan products, starting from the SKU manual installation and product codes. Supply Chain Today - Global Trading One amongst the largest influences has been the explosion of products produced in Asia, with India, China, Japan, and Korea becoming major suppliers and exporters to world economies. At the identical time, AI and machine learning combine predictive and conditional analysis to produce better prediction, improved order management, and more. Additionally, the Supply chain is transforming into a data-driven, network-driven, and shared system that drives real value and growth for all participants. Yes, there are still challenges to beat. Consumers and businesses are increasingly fascinated by ethical principles of the acquisition and production of products, especially in terms of environmental considerations and workers' rights. At the identical time, supply chain managers need effective risk management to house the unexpected, whether it's customs and taxes, natural disasters, or global transport problems. If you are looking to avail the best Xero Accounting Services in Australia, VaderanCo (VNC) is the best pick for you. © VNCG Page 2 of 3

3. No matter what holds in long run, one thing is definite that if we apply the identical innovations to global supply chains as we've did in the past, then we would continue to improve our business operation and lives around it across the globe. © VNCG Page 3 of 3