The globalization of the economy has increased the importance of supply chain management for large firms. As a result, many companies have appointed a high-ranking executive to deal specifically with issues related to logistics. Originally tasked with all things IT, these chief information officers — or CIOs, a term that originated in the 1980s and become commonplace in the mid-1990s — now also are charged with modernizing supply chains, trimming operational costs, streamlining inventory cycles, and overseeing strategic reforms in the way their firms develop new products or services. In short, they’re largely responsible for moving their companies forward into the multinational age.
