Supply Chain Management and Working Conditions in Modern Capitalism

These flashcards cover the key concepts related to supply chain management and working conditions in modern capitalism, emphasizing globalization, corporate responsibility, and the impact of transnational corporations.

Supply Chain Management

Focuses on inter-organizational logistics to find optimal ways for organizations to acquire necessary supplies.

Strategic Purchasing

Choosing suppliers based on a combination of quality inputs, dependable delivery, and price.

Inter-organizational Relationships

Developing long-term relationships with suppliers to facilitate trust and stable logistics.

Globalization

The increasing movement of goods, services, and capital across national borders.

Transnational Corporations (TNCs)

Firms that control assets abroad, impacting global supply chains.

Modern Slavery

Severe exploitation of other people for personal or commercial gain, including human trafficking and forced labor.

Debt Bondage

The most widespread form of slavery, where individuals work to pay off borrowed money, losing control over employment conditions.

Global Codes of Conduct

Guidelines from international organizations to promote corporate social responsibility.

Accord on Fire and Building Safety

A legally binding agreement to improve safety standards in the garment industry in Bangladesh.

Reporting Standards

Standards established to ensure transparency and accountability in corporate practices regarding labor and working conditions.