Supply Chain Design and Control in Volatile Economy

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In today's unstable global economy, manufacturers serving markets in multiple countries face unprecedented uncertainties. To be competitive, it is crucial for them to build a supply chain that can adapt flexibly to the changing business conditions in a cost efficient way. Such supply chains can be built by taking into consideration of risks from various sources such as fluctuating values of multiple currencies, economic instability in countries where demands arise and/or parts are outsourced, and volatility in both long-term and short-term demands. The economic instability that we are experiencing today can be an opportunity for firms with flexible supply chain networks, while it can be a deadly threat to others. In this research we will develop theoretical frameworks to design and control a global supply chain network that can hedge operational and financial risks, change its structure flexibly to the changing global business conditions, and operate in a cost efficient way.