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Supply chains have contingency planning—they do all sorts of risk-mitigation techniques—but typically when there’s a disruption, it’s local or regionalized. Think earthquakes, tsunamis, cyberattacks. These were majorly disruptive events.

But the difference now is that this event is global: it’s happening at all places at all times, and it’s impacting both supply and demand.

In this April 14, 2020 interview with Nicole DeHoratius, adjunct professor of operations management at Chicago Booth, see how supply chain management professionals are rethinking how they look at the trade-offs between costs and responsiveness: