In Episode 132 of Hidden Forces, Demetri Kofinas speaks with Tom Derry, CEO of the Institute for Supply Management and publisher of the market-moving ISM Manufacturing Index about the impact of COVID-19 on global supply chains.
In recent years, global supply chains have been in the process of a fundamental shift, in part to strengthen their immune systems to mitigate the risk of multiple threats — unprecedented trade turbulence, as well as economic uncertainty, geopolitical events and rising labor costs. COVID-19 (novel coronavirus) has provided a severe new test to these global supply chains.
Since its genesis in the manufacturing hub of Wuhan, China, in December, the outbreak has resulted in more than one million documented cases and nearly sixty thousand deaths worldwide, quarantined workers, temporarily shuttered factories, canceled high-profile events, shaken markets and handcuffed supply management organizations at many companies. The gravity of the situation was exemplified in a survey by Institute for Supply Management, which found that nearly three-fourths (72%) of U.S. companies have experienced supply chain disruptions due to coronavirus-related transportation restrictions, and 81% of organizations expect their procurement operations to be impacted by COVID-19. For some of those companies, the infection goes beyond the supply chain, as 16% of survey respondents report lowering annual revenue targets by an average of 5.6%. More than half (53%) of the 628 respondents in ISM’s recent survey said their companies are having trouble getting supply chain information from China.
The full episode is a deep-dive into how the intricate world of just-in-time manufacturing, outsourcing, and globalization has been impacted by the world-wide disruptions we’ve seen in early 2020. In the overtime, Demetri and Tom discuss the impact of COVID-19 on the telecommunications industry and MSO’s, the automotive space, commercial air travel, as well as the market for shipping crude oil. Tom also explains how companies have been re-positioning themselves coming out of this contraction, including the long-term impacts of rerouting supply chains and rethinking the scale and efficiency of distribution and sourcing.
You can access the episode overtime, as well as the transcript and rundown to this week’s episode through the Hidden Forces Supercast Page. All subscribers gain access to our overtime feed, which can be easily added to your favorite podcast application.
Thomas W. Derry is Chief Executive Officer of the Institute for Supply Management with more than 30 years of experience in leadership and general management roles for public and private companies, and in the not-for profit sector. As CEO of ISM, Tom has a unique vantage point to observe major macroeconomic trends and the development of global supply chains through his daily contact with Fortune 500 chief procurement officers and chief supply chain officers, with government agencies and NGOs in the United States and abroad, and with leading academics. Tom has been interviewed on CNBC, Bloomberg Television, quoted in the Wall Street Journal, the New York Times, and dozens of other business publications. Tom has represented ISM in meetings with the White House Council of Economic Advisers, the National Security Council, the Federal Reserve System Board of Governors, and the U.S. Small Business Administration. Derry is a 1986 graduate of Georgetown University’s Walsh School of Foreign Service (B.S., Foreign Service).
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed tamen intellego quid velit. Primum Theophrasti, Strato, physicum se voluit; Graecis hoc modicum est: Leonidas, Epaminondas, tres aliqui aut quattuor; Iam id ipsum absurdum, maximum malum neglegi. Duo Reges: constructio interrete. In qua quid est boni praeter summam voluptatem, et eam sempiternam?
Primum cur ista res digna odio est, nisi quod est turpis? Si verbum sequimur, primum longius verbum praepositum quam bonum. Aut, Pylades cum sis, dices te esse Orestem, ut moriare pro amico? Nam de isto magna dissensio est. Multoque hoc melius nos veriusque quam Stoici. Qui ita affectus, beatum esse numquam probabis; At miser, si in flagitiosa et vitiosa vita afflueret voluptatibus. Sin eam, quam Hieronymus, ne fecisset idem, ut voluptatem illam Aristippi in prima commendatione poneret.
Utinam quidem dicerent alium alio beatiorem! Iam ruinas videres. In his igitur partibus duabus nihil erat, quod Zeno commutare gestiret. Istam voluptatem perpetuam quis potest praestare sapienti? Universa enim illorum ratione cum tota vestra confligendum puto. Nam memini etiam quae nolo, oblivisci non possum quae volo. Ubi ut eam caperet aut quando?
Dempta enim aeternitate nihilo beatior Iuppiter quam Epicurus; Heri, inquam, ludis commissis ex urbe profectus veni ad vesperum. Non risu potius quam oratione eiciendum? Primum quid tu dicis breve? Paria sunt igitur. Duarum enim vitarum nobis erunt instituta capienda.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Polemoni et iam ante Aristoteli ea prima visa sunt, quae paulo ante dixi. Cur igitur, inquam, res tam dissimiles eodem nomine appellas? Duo Reges: constructio interrete. Quid autem habent admirationis, cum prope accesseris? Hoc positum in Phaedro a Platone probavit Epicurus sensitque in omni disputatione id fieri oportere.
Quare ad ea primum, si videtur; Neminem videbis ita laudatum, ut artifex callidus comparandarum voluptatum diceretur. Ergo opifex plus sibi proponet ad formarum quam civis excellens ad factorum pulchritudinem? Et quidem iure fortasse, sed tamen non gravissimum est testimonium multitudinis. Sed tamen omne, quod de re bona dilucide dicitur, mihi praeclare dici videtur. Egone quaeris, inquit, quid sentiam?
Invidiosum nomen est, infame, suspectum. Nam his libris eum malo quam reliquo ornatu villae delectari. Idemne potest esse dies saepius, qui semel fuit? Quid enim est a Chrysippo praetermissum in Stoicis? Ergo id est convenienter naturae vivere, a natura discedere. Quid ait Aristoteles reliquique Platonis alumni?
Familiares nostros, credo, Sironem dicis et Philodemum, cum optimos viros, tum homines doctissimos. Primum in nostrane potestate est, quid meminerimus? Aperiendum est igitur, quid sit voluptas; Non ego tecum iam ita iocabor, ut isdem his de rebus, cum L.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quasi ego id curem, quid ille aiat aut neget. Atqui haec patefactio quasi rerum opertarum, cum quid quidque sit aperitur, definitio est. Non laboro, inquit, de nomine.
Egone non intellego, quid sit don Graece, Latine voluptas? Hic ambiguo ludimur. Ergo ita: non posse honeste vivi, nisi honeste vivatur? Illa videamus, quae a te de amicitia dicta sunt. Oculorum, inquit Plato, est in nobis sensus acerrimus, quibus sapientiam non cernimus.
Is ita vivebat, ut nulla tam exquisita posset inveniri voluptas, qua non abundaret. Neminem videbis ita laudatum, ut artifex callidus comparandarum voluptatum diceretur. Non enim, si omnia non sequebatur, idcirco non erat ortus illinc. Et harum quidem rerum facilis est et expedita distinctio.
Quae qui non vident, nihil umquam magnum ac cognitione dignum amaverunt. Ergo id est convenienter naturae vivere, a natura discedere. Ubi ut eam caperet aut quando? Duo Reges: constructio interrete. Tecum optime, deinde etiam cum mediocri amico. Qui-vere falsone, quaerere mittimus-dicitur oculis se privasse; Equidem e Cn. Nec enim, omnes avaritias si aeque avaritias esse dixerimus, sequetur ut etiam aequas esse dicamus. Fortasse id optimum, sed ubi illud: Plus semper voluptatis? An me, inquis, tam amentem putas, ut apud imperitos isto modo loquar?
related episodes
Episode 124
Peter Zeihan
Peter Zeihan | Disunited Nations: The Scramble for Power in an Ungoverned World
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Atque ego: Scis me, inquam, istud idem sentire, Piso, sed a te opportune facta mentio est. Quis enim potest ea, quae probabilia videantur ei, non probare? Nam, ut sint illa vendibiliora, haec uberiora certe sunt. Apparet statim, quae sint officia, quae actiones. Duo Reges: constructio interrete. Quod totum contra est.
Ad quorum et cognitionem et usum iam corroborati natura ipsa praeeunte deducimur. Vos autem cum perspicuis dubia debeatis illustrare, dubiis perspicua conamini tollere. Quid in isto egregio tuo officio et tanta fide-sic enim existimo-ad corpus refers? Huic mori optimum esse propter desperationem sapientiae, illi propter spem vivere. An, partus ancillae sitne in fructu habendus, disseretur inter principes civitatis, P. Itaque hic ipse iam pridem est reiectus; An haec ab eo non dicuntur? Tuo vero id quidem, inquam, arbitratu.
Ne in odium veniam, si amicum destitero tueri. Confecta res esset. Quid, quod homines infima fortuna, nulla spe rerum gerendarum, opifices denique delectantur historia? Ergo id est convenienter naturae vivere, a natura discedere. Cum ageremus, inquit, vitae beatum et eundem supremum diem, scribebamus haec. Se dicere inter honestum et turpe nimium quantum, nescio quid inmensum, inter ceteras res nihil omnino interesse. Graecum enim hunc versum nostis omnes-: Suavis laborum est praeteritorum memoria. Hoc loco tenere se Triarius non potuit.
Quare conare, quaeso. Quae similitudo in genere etiam humano apparet. Quod eo liquidius faciet, si perspexerit rerum inter eas verborumne sit controversia.
