This paper explores effective cost management strategies in global supply chains, emphasizing the need for businesses to adapt and innovate in response to complex logistics operations, economic fluctuations, and geopolitical risks. It discusses strategic sourcing and procurement, inventory management techniques like Just-In-Time (JIT) systems, logistics and transportation optimization, and the role of technology and automation in enhancing efficiency and reducing costs. The paper identifies gaps in current literature, particularly the need for more research on sustainable practices and risk management strategies. Recommendations include flexibility, resilience, and leveraging technology for practical implementation. Future research directions focus on understanding global supply chain cost management dynamics and integrating sustainability practices. The significance of cost management in global supply chains is highlighted, as it directly impacts a company's profitability and market position. Challenges include fluctuating transportation costs, varying labor rates, currency exchange risks, and the complexity of coordinating operations across multiple jurisdictions. These factors create a volatile environment where traditional cost management practices may fall short, necessitating a reevaluation of strategies. The literature review covers various strategies for optimizing costs in global supply chains, including strategic sourcing, JIT inventory management, logistics and transportation optimization, and the impact of technology and automation. Theoretical frameworks such as Resource-Based View (RBV), Transaction Cost Economics (TCE), and Theory of Constraints (TOC) provide a foundation for understanding these strategies. Key strategies for cost management include strategic sourcing and procurement, inventory management, logistics and transportation, and integrating technology and automation. Strategic sourcing involves selecting reliable suppliers and diversifying the supplier base to mitigate risks. Inventory management focuses on optimizing inventory levels through JIT systems and demand forecasting. Logistics and transportation involve mode selection and carrier negotiations to reduce costs. Technology and automation enhance efficiency through blockchain, IoT, AI, and RPA. Challenges include geopolitical risks, economic fluctuations, and supply chain disruptions. Mitigation strategies involve diversifying suppliers, building supply chain resilience, and using predictive analytics. Future research should explore the integration of sustainability practices and the use of advanced analytics in supply chain resilience.This paper explores effective cost management strategies in global supply chains, emphasizing the need for businesses to adapt and innovate in response to complex logistics operations, economic fluctuations, and geopolitical risks. It discusses strategic sourcing and procurement, inventory management techniques like Just-In-Time (JIT) systems, logistics and transportation optimization, and the role of technology and automation in enhancing efficiency and reducing costs. The paper identifies gaps in current literature, particularly the need for more research on sustainable practices and risk management strategies. Recommendations include flexibility, resilience, and leveraging technology for practical implementation. Future research directions focus on understanding global supply chain cost management dynamics and integrating sustainability practices. The significance of cost management in global supply chains is highlighted, as it directly impacts a company's profitability and market position. Challenges include fluctuating transportation costs, varying labor rates, currency exchange risks, and the complexity of coordinating operations across multiple jurisdictions. These factors create a volatile environment where traditional cost management practices may fall short, necessitating a reevaluation of strategies. The literature review covers various strategies for optimizing costs in global supply chains, including strategic sourcing, JIT inventory management, logistics and transportation optimization, and the impact of technology and automation. Theoretical frameworks such as Resource-Based View (RBV), Transaction Cost Economics (TCE), and Theory of Constraints (TOC) provide a foundation for understanding these strategies. Key strategies for cost management include strategic sourcing and procurement, inventory management, logistics and transportation, and integrating technology and automation. Strategic sourcing involves selecting reliable suppliers and diversifying the supplier base to mitigate risks. Inventory management focuses on optimizing inventory levels through JIT systems and demand forecasting. Logistics and transportation involve mode selection and carrier negotiations to reduce costs. Technology and automation enhance efficiency through blockchain, IoT, AI, and RPA. Challenges include geopolitical risks, economic fluctuations, and supply chain disruptions. Mitigation strategies involve diversifying suppliers, building supply chain resilience, and using predictive analytics. Future research should explore the integration of sustainability practices and the use of advanced analytics in supply chain resilience.