“To be realistic, the outsourcing and the globalization of trade cannot be easily reversed because of the advantages that it has.”
‘To be realistic, the outsourcing and the globalization of trade cannot be easily reversed because of the advantages that it has,’ says a Stanford professor.7:15 AM on Dec 22, 2021 CST
Confronted by a pandemic, we suddenly couldn’t find what we needed: Hospitals ran short of N95s and ventilators, auto manufacturers didn’t have crucial components and store shelves suddenly emptied of everything from sneakers to sofas. Kostas Bimpikis, an associate professor of operations, information and technology at the Stanford Graduate School of Business, talked about how to keep our supply chains reliable — even when the world is upended. His remarks have been edited for length and clarity.It revealed two things. The first is how interconnected supply chains are. A disruption in Italy, Taiwan or Korea may be felt all over the world. The second thing it revealed was how fragile the supply chain is.
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