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Masters in Business
How the World Ran on Empty with Peter Goodman
Nov 8, 2024
In a captivating discussion, Peter Goodman, an award-winning investigative reporter and economics correspondent for The New York Times, reveals insights from his book on global supply chains. He critiques the 'Lean Taliban' approach to efficiency, shedding light on its detrimental effects. Goodman addresses the unfulfilled promises of globalization and the rising trend of 'greedflation,' emphasizing its impact on workers. With rich anecdotes from his global reporting, he highlights the urgent need for resilience in our interconnected world.
01:17:35
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Quick takeaways
- The COVID-19 pandemic exposed significant vulnerabilities in global supply chains, particularly the inadequacy of essential goods like medical supplies.
- The podcast critiques the impact of business consultancies promoting lean manufacturing, which prioritized efficiency over resilience, leading to critical shortages.
Deep dives
The Impact of Global Supply Chains
The discussion emphasizes how global supply chains were severely tested during the COVID-19 pandemic, highlighting vulnerabilities that emerged as essential goods were in short supply. The podcast delves into the reasons behind the inability to procure basic medical supplies, such as ventilators and face masks, illustrating a lack of preparedness in the face of a crisis. It examines the trend of outsourcing production, which ultimately undermined resilience in supply chains, revealing how a JIT (Just In Time) model failed to account for emergencies. Additionally, the conversation raises concerns regarding the excessive reliance on foreign suppliers, particularly in critical sectors like healthcare and manufacturing.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode