Supply chain challenges in 2012

2012 may well be the most challenging year since the great depression of the 30's. The Euro crisis may have to come to a conclusion somehow, and some countries may have to take the bitter medicine in order for the region to re-organise itself for a more focused re-development. It is a critical stage of a renaissance that Europe needs to redefine itself for the future. The longer it takes to resolve, the worse it may become. The American dollar and debts may not be an issue if the money can be borrowed and printed without any control. This may not be feasible in the long term from the banking and financial accounting standpoint. The most subtle solution may be to reduce the prices of goods and services, forcing some kind of deflation, and allowing people to have a chance to move on with life with whatever little income they may have. With many people unemployed and homeless, a new social-economic model may have to be developed that focus less on GDP growth. Something out-of-the-box solution is needed to address the trillions of dollars of debts, and return to basics. The BRICS may have found an innovative solution to the currency crisis with the use of Renminbi or Yuan as an alternative international currency. This global shift taking place may have serious impact on the supply chain with a possible focus on the emergence of Asia as the major supply hub to service the goods needed for the world market. It is definitely something that WTO Doha Round has not anticipated, and will find it sensitive to try forcing through the implementation of WTO 2020 free trade vision for the time being. Has the Mayan calendar ending on the 21st December 2012 affecting the global supply chain? With all the knowledge of MRP II/ERP, demand pull system and agility, we may have to review the global supply chain competitiveness. 2012 may be the most significant year to define the global virtual supply chain management. Time to review the knowledge and practices of SCM for the survival into the future.