Bestselling author, Robert Kiyosaki, fears "the rich countries of the world will soon be the poor countries of the world." If the world's traditional economic powerhouses are on the verge of bankruptcy, what steps can supply chain professionals take to prepare and prosper?
"The world is in a precarious situation. I’m afraid the rich countries of the world will soon be the poor countries of the world, and when that happens, the world will go bankrupt... In the near future, only the strong will survive and thrive due to less competition. Unfortunately, this will mean more suffering for the weak or naïve."
What you've just read is an excerpt from Robert Kiyosaki's Conspiracy of the Rich bulletin. Kiyosaki is best known for his Rich Dad Poor Dad motivational book series, and more recently for his new book Conspiracy of the Rich: The 8 New Rules of Money. If Kiyosaki's fears come to pass, and the wealthy countries of the world go bankrupt, what will it mean for the world's supply chains and the people who manage them?
While Kiyosaki's books are geared toward personal financial survival, two of his "8 Rules" can be applied to business, and more specifically to supply chain. First, "learn how to control cash flow," and second, "prepare for bad times and you will only know good times." Cash flow, as most of us know, is already an issue, which is why there is so much focus on streamlining the supply chain and cutting costs, and the recession has left many supply chain professionals feeling like they've earned a master's degree in preparing for the hard times at the school of harsh reality and hard knocks.
Let's assume, for the sake of argument, that the traditional economic powerhouses are on the verge of bankruptcy. What steps should supply chain professionals take to prepare and prosper?