![]() Those developments, combined with the U.S.-China trade war, have triggered a rise in economic nationalism. Temporary trade restrictions and shortages of pharmaceuticals, critical medical supplies, and other products highlighted their weaknesses. The supply shock that started in China in February and the demand shock that followed as the global economy shut down exposed vulnerabilities in the production strategies and supply chains of firms just about everywhere. When the Covid-19 pandemic subsides, the world is going to look markedly different. And revisit your product strategies: Offering consumers more choices isn’t always better. Explore production-process improvements or new technologies-such as automation, continuous-flow manufacturing, and 3D printing-that could lower your costs or increase your flexibility when faced with a shock. Address the vulnerabilities by diversifying your suppliers or stockpiling essential materials. Determine how quickly those that are most vital for you could either recover from a disruption or be replaced by an alternative. Start by mapping the full extent of your supply network to identify both direct and indirect sources. This article provides advice to make your supply chain more resilient without sacrificing competitiveness. For the foreseeable future, they will face pressure to increase domestic production, grow employment in their home countries, reduce their dependence on risky sources, and rethink strategies of lean inventories and just-in-time replenishment, which can be crippling when material shortages arise. I hope this episode leaves you hopeful about the future and curious about what comes next.The U.S.-China trade war and the supply and demand shocks brought on by the Covid-19 crisis are forcing manufacturers everywhere to reassess their supply chains. I suspect that some of the digitization trends we’ve seen-especially in the areas of online learning, telemedicine, and remote work-will become a regular part of our lives. But what the world looks like after that is a lot less clear. Fauci and I are both optimistic that a vaccine will bring an end to the pandemic at some point in the near future. He’s such a quiet and unassuming guy normally, so it’s been wild to watch him become a huge celebrity.ĭr. ![]() Fauci on a number of global health issues over the years, including the quest for an HIV vaccine and cure. ![]() I’ve had the opportunity to work with Dr. ![]() Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, to discuss what to expect in the months to come. Unfortunately, we still have a long way to go before life truly gets back to “normal.” Rashida and I were joined by Dr. I think it’s safe to assume that society will be changed forever, given how disruptive the virus has been to virtually every part of our lives. I know it’s hard to imagine right now while new cases are surging around the world, but there will come a time when the COVID-19 pandemic is behind us. ![]()
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