{"id":4446,"date":"2022-03-28T11:06:15","date_gmt":"2022-03-28T11:06:15","guid":{"rendered":"https:\/\/www.iese.edu\/standout\/?p=4446"},"modified":"2024-04-22T06:15:31","modified_gmt":"2024-04-22T06:15:31","slug":"supply-chain-manage-crisis","status":"publish","type":"post","link":"https:\/\/www.iese.edu\/standout\/supply-chain-manage-crisis\/","title":{"rendered":"Managing supply chains and operations during crises"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row css=&#8221;.vc_custom_1559140963143{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column css=&#8221;.vc_custom_1559216895048{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css_animation=&#8221;bottom-to-top&#8221;]Toilet paper rarely makes headlines. But perhaps no other commercial product save hand sanitizer has become as emblematic of the global anxieties caused by the coronavirus pandemic as toilet paper \u2013 or the lack thereof.<\/p>\n<p>Unlike hand sanitizer, however, most experts agree that the rush to hoard toilet paper stems from an illogical anxiety, one planted in the notion that the supply chain will suddenly break: that manufacturers will abruptly stop producing toilet paper and that supermarkets will be unable to stock their shelves.[\/vc_column_text]<div class=\"clearboth\"><\/div><style>#thegem-divider-6a0592bfa59b1 {margin-top: 50px !important;}<\/style><div id=\"thegem-divider-6a0592bfa59b1\" class=\"gem-divider  \" style=\"\" ><\/div>[vc_column_text css_animation=&#8221;bottom-to-top&#8221;]<\/p>\n<h2><strong>5 stages of the operations and supply chain management crisis lifecycle<\/strong><\/h2>\n<p>From the early days of the outbreak,\u00a0<strong>COVID-19 exposed vulnerabilities in global supply chains and operations management<\/strong>. Here, professor Jaume Ribera breaks down the\u00a0<strong>life cycle of operations management and supply-chain crises into five stages<\/strong>, and gives\u00a0<strong>recommendations on how companies can make themselves less vulnerable to shocks<\/strong>.[\/vc_column_text]<div class=\"clearboth\"><\/div><style>#thegem-divider-6a0592bfa59f5 {margin-top: 50px !important;}<\/style><div id=\"thegem-divider-6a0592bfa59f5\" class=\"gem-divider  \" style=\"\" ><\/div>[vc_column_text css_animation=&#8221;bottom-to-top&#8221;]<\/p>\n<h3><span class=\"subrat\">1.<\/span> Prevention<\/h3>\n<p>Ribera says that if companies haven\u2019t already done their supply-chain homework, they should start doing it now. Subsequent actions will build on this first step.<\/p>\n<ul>\n<li>Map your existing supply chain (including your customers and your supplier\u2019s supplier, and where they\u2019re located, their current capacity and their inventory).<\/li>\n<li>Understand\u00a0<em>real<\/em>\u00a0demand as distinct from distortions from panic buying.<\/li>\n<li>Anticipate where disruptions are most likely to occur.<\/li>\n<li>Look for alternatives.<\/li>\n<li>Carry out supply-chain stress tests. Governments around the world have learned the importance of this the hard way.<\/li>\n<\/ul>\n<h3><span class=\"subrat\">2.<\/span> Detection<\/h3>\n<p>Next, monitor your supply chain based on what you discovered from your mapping exercise.<\/p>\n<ul>\n<li>Distinguish between signals and noise: Pay attention to the bullwhip effect, where unstable buyer behavior causes wild fluctuations further up the chain.<\/li>\n<li>Use knowledge frameworks such as this known-unknown matrix:<\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_single_image image=&#8221;4465&#8243; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;]<div class=\"clearboth\"><\/div><style>#thegem-divider-6a0592bfa5a1a {margin-top: 50px !important;}<\/style><div id=\"thegem-divider-6a0592bfa5a1a\" class=\"gem-divider  \" style=\"\" ><\/div>[vc_column_text css_animation=&#8221;none&#8221;]<\/p>\n<h3><span class=\"subrat\">3.<\/span>\u00a0Survival<\/h3>\n<p>At this stage, you need to do anything that you haven\u2019t done yet.<\/p>\n<ul>\n<li>Identify emerging action plans regarding your people and resources.<\/li>\n<li>Make the best use of scarce resources.<\/li>\n<li>Review your governance practices: Weigh the pros and cons of keeping centralized command and control versus making information transparent to other people.<\/li>\n<\/ul>\n<h3><span class=\"subrat\">4.<\/span> Recovery<\/h3>\n<p>Here\u2019s where you adjust your operations to the new normal: For example, based on your newfound experience of online or remote working, you may find this way of working becomes more widespread in your organization.<\/p>\n<ul>\n<li>Decide on a concrete recovery plan. It won\u2019t just be picking up where you left off.<\/li>\n<li>Revise the previous stages in light of your findings.<\/li>\n<li>Question previous decisions. Do you make or do you buy in what you need? Does more local sourcing and more local capacity make better sense for your current situation?<\/li>\n<\/ul>\n<h3><span class=\"subrat\">5.<\/span>\u00a0Compete again<\/h3>\n<p>They say a crisis is an opportunity, and in this case, the opportunity would be to innovate your operations and supply chains.<\/p>\n<ul>\n<li>Build learnings into future impact planning: This is especially important if a another wave of coronavirus infections should occur.<\/li>\n<li>Decide how you will compete in the new normal.<\/li>\n<\/ul>\n<p>While it may be too late for some companies, Ribera urges everyone to use their time wisely to review these five steps. However long this crisis lasts, it\u2019s important to be ready for the new reality.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Want to learn more?<\/strong>\u00a0Watch this\u00a0<a href=\"https:\/\/youtu.be\/Fm24q_fFCsk\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>open-access online session with Prof. Ribera<\/strong><\/a>, where he discusses operations management and supply chains during turbulent times. Or immerse yourself in <strong><a href=\"https:\/\/executiveeducation.iese.edu\/\">IESE&#8217;s executive programs<\/a><\/strong> that ensure managers acquire all the skills and knowledge they need to detect supply chain vulnerabilities and manage operations effectively in the postcovid era.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row css=&#8221;.vc_custom_1559140963143{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column css=&#8221;.vc_custom_1559216895048{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css_animation=&#8221;bottom-to-top&#8221;]Toilet&#8230;<\/p>\n","protected":false},"author":4,"featured_media":4470,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107],"tags":[],"class_list":{"0":"post-4446","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-general"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Managing supply chains and operations during crises<\/title>\n<meta name=\"description\" content=\"IESE&#039;s Jaume Ribera breaks down the life cycle of supply-chain crises.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.iese.edu\/standout\/supply-chain-manage-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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