A Coronavirus Briefing - The Impact of COVID-19 on Business and Supply Chain

The Impact of COVID-19 on Business and Supply Chain
What happens to a company when the unimaginable occurs? As the coronavirus continues to spread and the number of infections surpasses 100,000 worldwide, the MIT Center for Transportation and Logistics (MIT CTL) has taken a close look at how companies are responding and how they should be responding.
Yossi Sheffi, Professor of Engineering at MIT and Director of the MIT Center for Transportation and Logistics, has argued in The Resilient Enterprise: Overcoming Vulnerability for Competitive Advantage (MIT Press, 2005) that a company’s survival and prosperity depend more on what it does before such a disruption occurs than on the actions it takes as the event unfolds. Ten years later, he published The Power of Resilience: How the Best Companies Manage the Unexpected (MIT Press, 2015). In this webinar, Professor Sheffi will focus on the here and now. He will explore the COVID-19 disruption in the context of past disruptions and explain what companies should be doing now as the epidemic is spreading.
His perspectives have been reported widely by WSJ, Bloomberg, CNBC, and all major media outlets, as well as trade publications. He is consulting with major corporations on understanding the supply chain impacts and the range of responses.
More info at sheffi.mit.edu

[@bevboden8971]

This is brilliant - thank you for sharing. Extremely interesting and provides the much needed academic underpinning for business

[@nicholesguillory6023]

Great content, very timely and informative.

[@rakshavashishta2881]

This is such a great piece of knowledge! Thank you for sharing! I appreciate for putting this up for the world for free!

[@doooovid]

Thanks, I have Sheffi's book on logistics.

[@koreatravel7930]

thanks for sharing

[@KAxo-qt2yh]

In my opinion, what the professor says has its pros and cons, as he evaluates the situation of the pandemic, he embraces different strategies to avoid falling into the whiplash effect, he tells you to put priorities on the table to make the best decision, that you know the lowest link in your chain so that you know in what position you are, and thus maintain a margin in which you can contribute and not decline.

[@GeeHood666]

Thank you.

[@RBkk-or2te]

Very interesting perspectives but the volume is distractingly low and inaudible in places.

[@kemueljrodriguezmontalvo3651]

is there a transcript for this??

[@MITCTL]

You can view the closed captions in KZbin and cut and paste from there.

[@juaneduardorosasnoriega3162]

I think that these new great risks are characterized as extreme systemic risks caused by human actions, rather than purely natural hazards. They are a serious challenge for purchasing teams trying to protect their companies against major disruptions in supply chains. In China, efforts to contain the spread of the virus are affecting both local and international businesses. Many international companies are notifying investors and customers that they must expect a supply chain disruption

[@alfredorosales1266]

In my opinion worldwide, the industries that manufacture textiles, high-tech goods and household items are those that would be most affected by its supply chain, according to data provided by Euromonitor International. The textile industry had a 54% share of world production in China in 2018, that of high-tech products 46% and that of household goods 35%. In some part, there will be a shortage in some commercial chains and most supply chains will be affected, so it is necessary to act with strategic plans and keep the economy of each country stable in case of an emergency. 👌🏼🤓🧠✍🏽