Explain the key components of supply chains, their challenges, and how technological advancements and globalization are shaping their evolution.

Supply chains describe the sequence of activities involved in producing and delivering goods and services, from sourcing inputs to reaching final customers. They link firms across stages of production, logistics, and distribution, often spanning multiple countries. In recent years, supply chains have faced sustained pressure from disruption risk, concentration in key nodes, and growing policy intervention. At the same time, technological change and globalization continue to reshape how supply chains are organized, managed, and adjusted over time