Global Supply Chains in a Post-Pandemic World
The economic turmoil caused by the pandemic has exposed vulnerabilities in supply chains of organizations everywhere. Companies are currently challenged to make their global supply chains more resilient without weakening their competitiveness. How can this be achieved?
How can organizations improve the resilience of their supply chains while staying competitive?
Based on the Harvard Business Review webinar, featuring Willy Shih, Professor at Harvard Business School, this executive brief discusses what critical areas to focus on while preparing global supply chains for the future, including:
- Using this crisis to understand vulnerabilities and reassess supply networks
- Diversifying your supply base to decrease risk
- Continuing to embrace globalization during this time of economic nationalism
- Taking advantage of process innovations
Over the last two years, issues with supply chains have arisen like never before. The primary challenge that companies now face is to improve the resilience of their global supply chains without weakening their competitiveness. The crises of recent years have pushed leading organizations to build greater flexibility into their supply chain design process through process innovations and implementing new technologies such as robotics and animation.
Willy Shih, the Robert and Jane Cizik Professor of Management Practice in Business Innovation at Harvard Business School, shares his insights into the vulnerability of global supply chains, as revealed in recent times. He discusses tradeoffs and opportunities for firms seeking to make their supply chains more robust in order to withstand future disruptions.
Prior to coming to HBS in 2007, Shih spent 28 years in industry at IBM, Digital Equipment, Silicon Graphics, Eastman Kodak, and Thomson SA. He worked in product development and manufacturing in a wide range of areas. Shih has two S.B. degrees from the Massachusetts Institute of Technology, and a Ph.D. from the University of California at Berkeley. He is a Life Member of the IEEE.