Hau Lee envisions a system that benefits buyers, consumers, workers, and the environment
Most people never give a thought to the world’s surprisingly fragile trade networks until they break.
Image: Amr Abdallah Dalsh/ Reuters
Supply chains are having a moment. In March, one of the world’s largest container ships got wedged in the Suez Canal, blocking 10% of global trade for a few days and launching a flotilla of memes. Currently, home builders are waiting for more lumber, while a shortage of computer chips has slowed down the auto industry. Steel, coffee, ketchup, and toilet paper are also in short supply. Earlier this month, the Biden administration launched a Supply Chain Disruptions Task Force to address “supply/demand mismatches” as the post-pandemic economy restarts.
Of course, even when they’re not making headlines, supply chains are always there. Yet most people never give a thought to these invisible and surprisingly fragile networks of trade that make modern life possible — until they break.
This piece originally appeared in Stanford Business Insights from Stanford Graduate School of Business. To receive business ideas and insights from Stanford GSB click here: (To sign up: https://www.gsb.stanford.edu/insights/about/emails)