Based on your understanding, analyze and apply the following statements by using examples to enforce your answer.   Statement (1): Managers need to consider how trade barriers affect the strategy of the firm and the implications of government policy on the firm.   Statement (2): Foreign business policy is a framework of interaction; providing gaudiness to set the priorities for countries, in trading and any commercial-related interests.

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Global supply chain management

Global supply chain management is a broad term that covers all aspects of a product's lifespan, from conception through distribution to consumers. The study of planning how goods and services will get from producer to consumer is known as global supply chain management (GSCM). The supply chain, as the name implies, is a group of network functions, organizations, and personnel. It begins with those who produce and supply raw materials or components to manufacturers, continues with logistics services that carry finished goods to warehouses and distribution centers, and ends with wholesalers and retailers purchasing the goods.