Owing to the paucity of timely knowledge of customers’ needs and of the location of inventories and materials flowing throughout complex production systems, businesses, as many of you well remember, required substantial programmed redundancies to function effectively. Doubling up on materials and people was essential as backup to the inevitable misjudgments of the real-time state of play in a company.
With growing globalization and integration with global economies, the spillover impacts can be felt through the following seven channels (or the 7Cs) – Commerce, Capital Flows, Commodity prices, Confidence, Carry Trades, Contamination and Central Banks’ action & communication channels. Commerce channel 19.