Willy Shih, professor at Harvard Business School, says that the complex, global, and just-in-time manufacturing processes we’ve developed in recent decades are highly susceptible to breakdowns, especially during a global pandemic. He explains why the shortages we’ve seen in 2020 – in goods from toilet paper to appliances – are indicative of a bigger problem and talks through ways can businesses protect themselves and consumers in the future. Shih is the author of the HBR article “Global Supply Chains in a Post-Pandemic World.” (https://hbr.org/2020/09/global-supply-chains-in-a-post-pandemic-world)
This episode originally aired on HBR IdeaCast on September 8, 2020.
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Series Description:
A weekly podcast featuring the leading thinkers in business and management.
About Harvard Business Review:
Harvard Business Review is the leading destination for smart management thinking. Through its flagship magazine, books, and digital content and tools published on HBR.org, Harvard Business Review aims to provide professionals around the world with rigorous insights and best practices to help lead themselves and their organizations more effectively and to make a positive impact. Learn more at www.hbr.org.
Chapters:
00:00 – Intro
1:34 – How Global Supply Chains Work
3:19 – Risks of Globalizing a Supply Chain
7:29 – Identifying and Fixing Supply Chain Vulnerabilities
10:33 – Identifying High Risk Spots
14:53 – Investing in Solutions During a Recession
21:14 – How Crisis Unfroze Medical Manufacturing
23:53 – Outro
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