GUIDES & REPORTS
The Silk Road - Examining the world's first global supply chain
The Silk Road, a UNESCO heritage site, was a network of major trade routes, connecting the East with the West and was instrumental to economic, cultural and political development of the world. The 7,000-mile route was the worlds’ first global supply chain, spanning and connecting entire continents. It included China, Mongolia, Indonesia, India, Somalia, Saudi Arabi as well many major European countries.
What’s most remarkable is that the Silk Road can trace its origins to the 2nd Century BCE, thousands of years before supply chains and logistics operations started to operate in the way we know them now. And as such, there’s plenty we can learn from studying the Silk Road and its impact on the world. In this eBook we’ll examine the Silk Road, how it came about, its influence, as well as highlighting its constituent parts, the legacy the trading route left on the wider world and the lessons we can learn from its existence.
What can we learn from the Silk Road?
Modern procurement and sourcing teams might be scratching their heads thinking, “What does a dusty trading route from thousands of years ago have to do with my job?” There is a reason the old adage goes that history often repeats itself, and learning from how the Silk Road became so successful, but also what led to its demise can help reinforce best practices for modern supply chain management, including:
- How supply chain infrastructure is vital to the keep a healthy flow of goods and services that keep your business running.
- Why the geographic footprint of your supply chain can make getting goods and services more efficient or more expensive and increase your supply chain risk.
- The importance of proper supply chain security, which protects you against red flag vendors and suppliers that will do more harm than good for your bottom line and reputation.
- The ever-changing management of logistics and why it’s important to remain agile to keep up with changing distribution patterns and logistics trends.
How can Medius help you build your own silk road?
Medius Sourcing helps you find the perfect fit for your needs. By automating the supplier selection process, you can efficiently compare candidates and choose the best one. Plus, you can run competitive bids to drive down costs and expedite the entire sourcing process.
"We work with over 4,000 suppliers and contractors and Medius significantly enhances our supplier risk management processes, ensuring only those with the appropriate certification can work with us."
Matthew Paul
Group Commercial Manager, Barratt Construction