The Impact of COVID-19 on Global Supply Chains with ISM CEO | Tom Derry

In Episode 132 of Hidden Forces , Demetri Kofinas speaks with Tom Derry, CEO of the Institute for Supply Management and publisher of the market-moving ISM Manufacturing Index about the impact of COVID-19 on global supply chains. This is a deep-dive into how the intricate world of just-in-time manufacturing, outsourcing, and globalization has been impacted by the world-wide disruptions caused by the novel coronavirus. In recent years, global supply chains have been in the process of a fundamental shift, in part to strengthen their immune systems to mitigate the risk of multiple threats — unprecedented trade turbulence, as well as economic uncertainty, geopolitical events and rising labor costs. COVID-19 (novel coronavirus) has provided a severe new test to these global supply chains. Since its genesis in the manufacturing hub of Wuhan, China, in December, the outbreak has resulted in more than one million documented cases and nearly sixty thousand deaths worldwide, quarantined workers, temporarily shuttered factories, canceled high-profile events, shaken markets and handcuffed supply management organizations at many companies. The gravity of the situation was exemplified in a survey…