Brookings senior fellow, Joshua P. Meltzer, and Ronald Reagan Presidential Foundation and Institute policy director, Rachel Hoff, discuss ways to improve global supply chains during an event at Brookings
In the past, outsourcing production to other countries used to be a simple matter. America provided value through design capabilities and reliance upon domestically-produced components. Many businesses relied upon inexpensive labor from abroad to assemble products, and global distributors would deliver materials “just-in-time” for American firms.
But now there are tremendous disruptions in global supply chains with problems ranging from shifts in consumer demand and offshoring reliability to transportation jams, anti-competitive practices, and geopolitical complications. As noted in a 2022 Council of Economic Advisers report, supply chains these days “are efficient but brittle – vulnerable to breaking down in the face of a pandemic, a war or a natural disaster. Because of outsourcing, offshoring and insufficient investment in resilience, many supply chains have become complex and fragile.” A new report by Darrell West examines six ways to improve global supply chains.
On July 14, as part of the eleventh annual John Hazen White Forum on Public Policy, experts will examine supply chain problems and ways to mitigate them. This forum convenes leaders from academia, business, and government to discuss and identify solutions to the United States’ most pressing challenges.
Photo credit: Sharon Farmer
Brookings senior fellow, Joshua P. Meltzer, and Ronald Reagan Presidential Foundation and Institute policy director, Rachel Hoff, discuss ways to improve global supply chains during an event at Brookings
In the past, outsourcing production to other countries used to be a simple matter. America provided value through design capabilities and reliance upon domestically-produced components. Many businesses relied upon inexpensive labor from abroad to assemble products, and global distributors would deliver materials “just-in-time” for American firms.
But now there are tremendous disruptions in global supply chains with problems ranging from shifts in consumer demand and offshoring reliability to transportation jams, anti-competitive practices, and geopolitical complications. As noted in a 2022 Council of Economic Advisers report, supply chains these days “are efficient but brittle – vulnerable to breaking down in the face of a pandemic, a war or a natural disaster. Because of outsourcing, offshoring and insufficient investment in resilience, many supply chains have become complex and fragile.” A new report by Darrell West examines six ways to improve global supply chains.
On July 14, as part of the eleventh annual John Hazen White Forum on Public Policy, experts will examine supply chain problems and ways to mitigate them. This forum convenes leaders from academia, business, and government to discuss and identify solutions to the United States’ most pressing challenges.
Photo credit: Sharon Farmer