Publications

ABSTRACTIn the current era of globalisation, firms were confronted with the complex challenge of effectively overseeing supplychains in the face of the volatile nature of currency markets. Currency depreciation, a common obstacle in globalcommerce, had a substantial effect on procurement expenses, pricing tactics, and total profitability. Efficientlyreducing supply chain expenses in reaction to currency depreciation was essential for preserving competitivenessand guaranteeing long-term viability. This study provided a thorough examination of techniques specificallydesigned to tackle this problem. Currency devaluation was the decline in the value of a country's currency comparedto others, caused by reasons such as economic instability or geopolitical conflicts. The recent occurrences, such asthe devaluation of the Chinese yuan and the changes in the British pound after Brexit, highlight the widespreadinfluence on supply chain expenses. To address these difficulties, organisations needed to implement comprehensivestrategies to reduce costs in their supply chains. This study explored several ways to reduce supply chain costs inreaction to currency depreciation, drawing on ideas from industry professionals, academic research, and real-worldcase studies. The tactics include supplier diversity, contract renegotiation, hedging, value engineering, inventorymanagement, logistics optimisation, technology adoption, cooperation, and constant monitoring. The importance ofthis subject goes beyond just saving money in the short term; it had wider ramifications for the ability of acorporation to withstand challenges, compete in the market, and make strategic decisions. Organisations mayimprove their ability to adapt, reduce potential dangers, and take advantage of favourable circumstances in the globalmarket by comprehending currency dynamics and taking proactive actions.Keywords: Currency devaluation, Supply chain costs, Procurement, Pricing strategies, Risk Management.