99% Invisible How the World Ran Out of Everything
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Oct 29, 2024 
Peter Goodman, an economics reporter for the New York Times and author of "How the World Ran Out of Everything," delves into the pandemic's impact on global supply chains. He reveals how just-in-time inventory systems and the invention of the shipping container revolutionized logistics but also made them fragile. Goodman shares the struggles of a U.S. toy maker facing supply disruptions and explores China's rise as a manufacturing giant. He emphasizes the need for regulatory changes to improve labor standards amidst this chaos.
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Impact of Shipping Containers
- Shipping containers, invented by Malcolm McLean, revolutionized cargo transport.
- They enabled seamless movement of goods but also led to job displacement for dockworkers.
Just in Time System
- The "Just in Time" system, pioneered by Toyota, aimed to minimize inventory and maximize efficiency.
- This system was later adopted by other companies, often prioritizing shareholder interests above all else.
Extreme Just in Time
- The "Just in Time" philosophy became extreme, prioritizing share prices and cost-cutting.
- This led to offshoring and reliance on global supply chains, ultimately increasing vulnerability.
