The Modern Era Of Globalization

854 Words Jan 23rd, 2015 4 Pages
In the age of Globalization, with a few clicks in a web browser, a custom tailored suit can be delivered straight from Europe for a few hundred dollars. Package up old negatives, ship them to India, and they will be scanned, retouched, enhanced, and delivered via a custom web portal as high resolution images. Access a third site and receive high-end custom cables direct from the factory for pennies on the dollar. On the surface, Globalization has been a boon to the average consumer, but when you look more deeply you find that no sector of the supply chain or even the economy has been unaffected by the changes of Globalization.
Age of Globalization The modern era of Globalization was the culmination of three major changes to the world. First is the ease of production introduced by the industrial era. Production was centralized in factories and allowed for the economics of scale and specialization to take hold. Assembly line efficiency has been enhanced by supply chain and inventory tracking that allows exacting control over inventory. The assembly line today can utilize specialized workstations that allow for multiple products to be produced from the same line, reducing the retooling time. Second, the enacting of various trade agreements has encouraged commerce around the globe. While the North American Free Trade Agreement (NAFTA) opened trade on one side of the globe, the European Economic Community agreement led to the formation of the European Union (EU).…
Open Document