Globalization of Little Country StorePurdue Global Universit, Lecture notes of Accounting

Download Globalization of Little Country StorePurdue Global Universit and more Lecture notes Accounting in PDF only on Docsity! Running head: Globalization of Little Country Store 1 Globalization of Little Country Store Purdue Global University IT190: Information Technology Concepts Globalization of Little Country Store 2 The expansion of the Little Country Store to more customers coming from other countries is a bold ambition, but in todays marketplace it can be a necessity to broaden your consumer market. This action of conducting business on an international scale is know as globalization. Globalization the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information(Kolb, 2019).Information technology has helped speed-up globalization by promoting increased interactions between different cultures. Movies and books only available in one region of the world can now be shared via the internet to other regions. Now the western people can view movies filmed and distributed in India, and through e- readers books can be distributed worldwide. In addition to merging cultures, technology has changed the structure in which we do business. Technology based inventory systems help cut costs by delivering or receiving parts for “just-in-time” (JIT) assemblies. A JIT assembly is aimed to perfect the timing of ordering materials(Murray, 2020). The end goal is to have enough materials to complete the project at hand, no more, no less. With this perfection, storage costs get reduced, and it forces managers to have an intimate understanding of the supply chain.According to Yuchun Xu (2016), “Technology has helped in creating dynamic scheduling frameworks, such frameworks the company orders required materials in two ways: common materials are ordered in big batch and build up inventory in the plant, whilst other materials are ordered when customer order is received, and inventory of required materials is low in the plant.”(p. 328). Technology has also impacted the global workforce, the incorporation of technology into the workplace has created a demand for expertise in software development and the management