Securing supply chains in an era of turmoil

Even before COVID-19, supply chains were under constant threat from global disruptive events. Demand volatility caused by climate change, trade wars, pandemics, political unrest, etc. stir chaos in the market, as we saw with the waves of panic buying that swept the world along with the coronavirus. Supermarket shelves stripped of toilet paper and other essentials are only the most recent manifestation of the "bullwhip effect", or the amplified impact of relatively small demand changes as they travel through the supply chain. Left to itself, the bullwhip effect can do "horrendous" damage to companies, says V. "Paddy" Padmanabhan, the Unilever Chaired Professor of Marketing at INSEAD. His seminal research about the bullwhip effect has been credited with saving companies billions of dollars every year. Prof. Padmanabhan joins us to discuss how his time-tested insights apply to today's turbulent, uncertain global business climate.