In the future, a global pandemic such as the magnitude of COVID-19 will not only be a foreseeable event, but also will likely change how companies model and mitigate future risks to their supply chains, says an expert on supply chain management at Washington University’s Olin Business School.
Each fall, doctors stress the importance of getting a flu shot, but on-time delivery of the vaccine can often be tricky, with shortages during times of peak demand. Research co-authored by Olin’s Fuqiang Zhang proposes a new tweak to the vaccine supply chain that could reduce patient wait time.
The financial crisis and recession have changed the global economy and the way business works. Figuring out the “new normal” economy is challenging managers everywhere to develop new strategies and initiatives. Olin Business School is offering three new programs to sharpen professionals’ skills as they navigate the uncharted waters of the “new normal” economy.
The Olin Business School at Washington University in St. Louis will launch a Master of Science in Supply Chain Management specialized program in September 2009. The 12-month, 36-credit-hour program will be multi-disciplinary with a cutting-edge curriculum and active collaboration with industry leaders and the supply chain issues they encounter.
Kouvelis A new study from the Boeing Center for Technology, Information and Manufacturing (BCTIM) at the Olin Business School, calls on shipping companies to increase their use of full-container loads with specific delivery dates to reduce costs and counter the effects of the recession on global trade. Panos Kouvelis, BCTIM director and distinguished professor of operations and manufacturing management at Washington University in St. Louis – Olin Business School, co-authored the study with Jian Li. In their paper, “Managing the New Uncertainty,” they recommend the changes in the shipping supply chain as the “logical next step” for ocean freight services.
OlsenToday, when you walk into a car dealer and order a new automobile, you pay the same price and get the same wait for delivery as every other customer. But in the future, as Tava Olsen sees it, instead you’ll select your price and delivery date from a dynamic menu of lead-times and prices, where you can pay more for quick delivery or get a better price for waiting. While such options benefit the customer, they also pay bottom-line benefits for the retailer and manufacturer, says Olsen, associate professor of operations and manufacturing at Washington University’s Olin School of Business. To help companies reap those benefits, she’s engaged in groundbreaking theoretical research funded by a National Science Foundation (NSF) grant to tell them just how to do it.