Supply Chain Basics
This term describes the system that moves goods from raw materials to consumers.
What is a supply chain?
In 2020, factory closures in this country first disrupted the global supply chain
What is China?
This U.S. law was invoked to prioritise the manufacturing of essential goods during the pandemic.
What is the Defense Production Act?
Ford faced a shortage of these tiny but critical electronic components.
What are semiconductors / microchips?
COVID-19 exposed the fragility of this interconnected system of moving goods.
What is the global supply chain?
This inventory strategy keeps costs low by receiving goods only as they’re needed.
What is just-in-time?
Panic buying during the pandemic caused shortages of this common bathroom product.
What is toilet paper?
Companies began to move away from just-in-time to this model that stores extra inventory
What is just-in-case?
In 2021, Ford temporarily shut down plants in this U.S. state due to supply issues.
What is Michigan (and Illinois)?
Post-pandemic supply chains are expected to become more this — producing closer to home.
What is regionalised?
These types of partners are often involved in U.S. supply chains along with domestic producers
What are international partners?
These two West Coast ports experienced major backlogs during the crisis.
What are Los Angeles and Long Beach?
Reshoring and nearshoring aim to bring production closer to this location
What is the United States?
Ford partnered with this U.S.-based chip manufacturer to secure long-term supply
What is GlobalFoundries?
Companies learned they must balance efficiency with this key attribute.
What is resilience?
What is supply chain management technology / logistics software?
This technology allows companies to track inventory levels, forecast demand, and manage logistics.
This sector faced the greatest stress due to shortages of PPE and ventilators.
What is the medical / healthcare sector?
This type of technology, along with robotics, was increasingly used to predict shortages and track shipments.
What is artificial intelligence (AI)?
Ford stored unfinished vehicles in these locations while waiting for missing parts.
What are parking lots near factories?
Future crises may include pandemics, wars, cyberattacks, or these environmental threats.
What are climate events?
This major weakness of the just-in-time model became clear during COVID-19 disruptions.
What is a lack of flexibility / buffer?
E-commerce companies like this one struggled to meet shifting demand during the pandemic
What is Amazon?
Governments began to build these stockpiles to prepare for future crises.
What are strategic stockpiles of medical and emergency supplies?
Ford’s experience shows the importance of this kind of management, which focuses on risk and resilience.
What is supply chain risk management / resilience planning?
This trade-off is central to building a stronger supply chain: cost vs. _______.
What is security (or stability)?