Supply chain challenges are real, but they’re not new, says global trade expert Dustin Burke. In the face of disruptions ranging from natural disasters to pandemics, how do we make sure supply chains can keep up? Burke offers a combination of solutions — from companies sharing risk to better forecasting disruptions — to help create a more resilient, efficient tomorrow.
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32 Comments
Yes, please, lessons learned instead of repeating the cycle (meaning never learning from/changing behavior).
this is very informative and well put together
When restaurants were shut down, they should have still had them prepare food or at least package them, then the government could have subsidized the cost. But instead we threw all that food away because it wasn't packaged to consumers. Same with cruise ships, they could've processed that food. You saw the lines of middle class waiting at food banks.
It happened everywhere, Australia too. One only per person in the supermarket. It still ran out.
Stop growing the same stuff and make sure there's enough of everything instead of just the rubbish we get the most of.
Insurance might be a bad analogy. How well would insurance companies fare if everyone got into a car crash at the same time?
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The problem is that insurance is about money and money doesn’t have a shelf life, seldom becomes obsolete if talking major currencies and is quickly transferred around the world electronically. Many physical goods have one or more of these issues. Many chemicals can’t be stored for 10+ years. Many products become obsolete. How long do you think you can store microprocessors before they are no longer viable? And the physical materials need to be shipped at some point which takes time and may not be possible if transportation is one of the affected industries. I like the creative thinking, but I just don’t see the insurance analogy being viable for physical materials.
The biggest problem is evidenced by all of the cloth mask wearing people in the audience. This shows the irrational fear that our politicians and public health officials generated which is the root cause of the panic buying and hoarding. If we had managed the pandemic using science and data rather than using propaganda and fear-mongering, we’d have had FAR less issues with supply chain and also we would have made covid endemic much more quickly and with less overall loss of life. So, our supply issues are really political failings at heart.
Count less on foreign goods and focus on made in America products.
Answer: AUTOMATION
Simple answer. Remove idiots and lobbyists from politics. Problem solves itself.
Another crazy thought allow ships to dock rather than anchoring outside of ports for weeks if not months because…science. or even crazier, don't mandate an allready struggling industry.
If you consider the supply chain, the costs go up steeply. Large companies may be able to lay out multiple supply chains to share the risk, smaller companies simply don't have that ability.
You didn't do the outro music 🙁
Stop voting for liberals.
I think the consumers are part of the problem.. Many ppl had to throw away their toiletpapers because they bought too much of.
great video
Oh great, more ways for Wall Street to create artificial shortages to create price gouging renenue profits to increase stock prices at consumers expense
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Thank you for this information
I know of other people wondering why their meds aren't working anymore.I knew they screwed up the api since 2020.And the placebo effect is real for some and they don't even know their taking corn starch with no api.
Very insightful!
this guy is very well spoken. absolute professional
sharing risk – difference between insurance is that companies are competitors not neighbors, if your competitor has a supply chain disruption, that is a positive advantage for your company – which may even be survival
QUESTION – supply chain issues now seem like a "perfect storm" similar to Great Depression – economic and ecological issues occurring at the same time – how much of this is 1 in 100 year supply issues? Don't know, just asking
those who don't study history are DOOMED to repeat them
its always easy to put the blame on the unavailable information. unfortunately thats almost never the reason for supply chains to fail.
Its never about data not being available, but instead about incentives not being adjustetdwell enough to enable analysts to earnestly watch out for possible threats. From 2020 on there were thousands of warning signs and thousands of researchers and experts publishing about this topic. unfortunately many companies didnt take the warning to heart, because the prize of shifting policies was and oftentimes still is too high.
its not a technology issue. its an issue of bad leadership and wrong incentives. again.
Basically, have a back up!
Another attempt by our fake president to inhibit the American supply chain. I hate hearing “supply chain crisis” because America invented the supply chain, nobody does it better. We have a “fake president crisis” and a “mandate crisis”. Our supply chain is impeccable!
I dis agrees with this solution