TED: How to fix broken supply chains | Dustin Burke

The video discusses the complexities and challenges of supply chains, using historical and recent examples like the toilet paper shortage of 1973 and COVID-19. It highlights the need for resilience through risk sharing, transparency, and technology. The speaker emphasizes the importance of innovative strategies to withstand future crises, advocating for shared risk models, improved transparency, and automated recommendations to enhance supply chain resilience.

What was the cause of the 1973 toilet paper shortage?

• New uses for toilet paper

• Panic buying triggered by a joke

• A manufacturing defect

• A pandemic

What is a common strategy to make supply chains more resilient?

• Increasing competition

• Building buffers like stockpiles

• Reducing product variety

• Eliminating all risks

What is a key challenge in maintaining supply chain resilience?

• Lack of consumer demand

• Excessive transparency

• Competing priorities and steep competition

• Overstocking of inventory

How can supply chains share risk effectively?

• By eliminating all competition

• By pooling resources like raw materials

• By reducing transparency

• By increasing product prices

How can supply chains benefit from sharing risk?

• By reducing the number of suppliers

• By pooling resources for use in crises

• By increasing product prices

• By eliminating all risks

Why is radical transparency important in supply chains?

• To increase product prices

• To eliminate all risks

• To understand the entire supply web

• To reduce the number of suppliers

What is a consequence of not having supply chain transparency?

• Unexpected competition for resources

• Increased product variety

• Elimination of all risks

• Reduced consumer demand

What role does technology play in supply chain management?

• It reduces the number of suppliers

• It eliminates the need for human managers

• It helps predict and mitigate issues

• It increases the complexity of supply chains

How can AI and machine learning assist in supply chain management?

• By eliminating all risks

• By reducing product variety

• By analyzing data to predict problems

• By increasing the number of suppliers

What is a potential benefit of using technology in supply chains?

• Higher product prices

• Better decision-making through data analysis

• Increased complexity

• Reduced consumer demand