The political decision on when to reopen each state won’t act as a virtual on-switch for the economy, and back-up plans for alternative suppliers will only go so far.
The challenge of the COVID-19 pandemic lies in the unprecedented scope of its impact, both in terms of human lives and what it reveals about the United States’ dependence on foreign goods.
David Simchi-Levi, professor of engineering systems at MIT, talks about what’s next for supply chains, as the U.S. looks to reopen businesses after the coronavirus quarantine.
The concept of sole sourcing is as old as that of strategic sourcing. Call it vendor consolidation, volume concentration, or reduction of part-number proliferation, the endgame is always the same: reduce the number of vendors at the part and enterprise levels, to help drive cost efficiencies.
There is perhaps no more dramatic an example of the destruction plaguing America’s food supply chain than this: Thousands of pigs are rotting on compost heaps as grocers run out of meat.
Ted Stank, faculty director of the Global Supply Chain Institute at the University of Tennessee, offers insight into how supply-chain professionals can reduce the risk of crises such as the coronavirus pandemic.
Mark George, North American lead for supply chain and operations strategy with Accenture, lays out seven steps that companies can take to repurpose their supply chains and demonstrate strong corporate values in the wake of the coronavirus pandemic.