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Harsh economic times require different, and usually more balanced, approaches to supply chain management. For some companies, the most dramatic move might be applying the same level of attention and exactitude to upstream (supplier) activities as they typically have to downstream (customer) activities.
For some parts of the global economy, falling prices are another daunting reality. A recent article in The New York Times stated that the cost of most manufactured goods — including cars, clothing, electronics, furniture, jewelry, kitchen equipment, and toys — has dropped in the last year.1 "More goods are chasing less money, instead of more money chasing fewer goods," comments Arthur J. Rolnick, research director of the Federal Reserve Bank of Minneapolis.
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