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Post COVID-19 -The Re-industrialization of America
Art Koch’s Profit Chain® Series
Post COVID-19: The Re-industrialization of America
Volume 3 | Number 7 | July 2020
Black Swan Event
We have learned important lessons from the ongoing COVID-19 black swan event. Here is a quick recap of the most significant lessons learned:
- We have witnessed the resilience of our supply chains, yet at the same time, we have seen just how fragile they have become.
- With the common enemy of COVID-19 (Winston Churchill effect), we have seen how quickly organizations have surgically cut through red tape to keep products flowing to customers.
- The need for shorter lead-times, and to manufacture locally or regionally to meet customer demand.
- Via the herd mentality, corporations rushed in to take advantage of low-cost labor, beneficial currency rates, and government incentives.
- And, we now have a better appreciation of the Total Cost of Ownership.