Hospital care costs are out of control. Price caps can help.
By Andy Ryan and Roslyn Murray of Brown University
How can business leaders respond rapidly and effectively to produce supplies to fight the coronavirus pandemic?
Disciplines:
BusinessSri Talluri is a Hoagland-Metzler Endowed Professor and Professor of Supply Chain Management at Michigan State University's Broad College of Business. He has more than 20 years of research and teaching experience in the areas of supply chain management, operations management, operations research/management science, and statistics. He was designated as a Fellow of the Decision Sciences Institute (DSI) in 2019, was the Fulbright Distinguished Chair in Business and Economics for the year 2016-2017, and currently holds the position of Honorary Professorial Fellow at the University of Melbourne, Australia. Dr. Talluri serves as the Department Editor for Decision Sciences Journal and the IEEE Transactions on Engineering Management, and Editorial Review Board Member for Production and Operations Management Journal and the International Journal of Production Research. He earned a B. S. degree in mechanical engineering in India, and an M.S. degree in industrial and manufacturing systems engineering and Ph.D. in production and operations management from the University of Texas at Arlington.
Disciplines:
BusinessTobias Schoenherr is an internationally renowned and award-winning scholar and teacher focusing on the area of sourcing, with a particular interest in buyer-supplier relationships. He is the Hoagland-Metzler Endowed Professor in Purchasing and Supply Chain Management at Michigan State University's Broad College of Business. His overall research excellence has been recognized by numerous awards and fellowships, including MSU's Teacher-Scholar Award (2013), Broad College's John D. and Dortha J. Withrow Endowed Emerging Scholar Award (2010), and the 2017 Jack Meredith Best Paper Award for the best paper published in the Journal of Operations Management during the last five years. Dr. Schoenherr is the Co-Editor-In-Chief for the International Journal of Operations and Production Management, and an Associate Editor for the Journal of Operations Management, Decision Sciences, and the Journal of Purchasing and Supply Management, and serves on the Editorial Review Boards of several other journals. He holds a Ph.D. in Operations Management and Decision Sciences from Indiana University, Bloomington, from where he also obtained his B.Sc. and M.B. He also holds a Diplom-Betriebswirt (FH) from the European School of Business, Reutlingen University, Germany, and is an APICS Certified Supply Chain Professional (CSCP).
Disciplines:
BusinessVedat Verter is the John McConnell Endowed Chair of Business Administration at Michigan State University's Broad College of Business. He also serves as Chairperson of the Supply Chain Management Department. He previously spent 24 years with the Desautels Faculty of Management at McGill University. Dr. Verter specializes in the application of operations research for tackling challenges in the public sector. His areas of research are service chain design, hazardous materials logistics, sustainable operations, and healthcare operations management. His work in these four areas culminated into 70+ research articles in refereed journals and invited presentations around the globe. He was Founding Director of the NSERC CREATE Program in Healthcare Operations and Information Management, a seven-university PhD/PDF training program across Canada. Dr. Verter is Editor-in-Chief of Socio-Economic Planning Sciences, an international journal focusing on public sector decision making. He is also among the Senior Editors of Production and Operations Management.
By Tobias Schoenherr, Srinivas Talluri & Vedat Verter, Michigan State University
The business community has leapt into action to help fight the novel coronavirus pandemic. Automakers like Ford, GM and Tesla are retooling their factories to produce ventilators. 3M and GE Healthcare are working to boost production of masks, face shields and other protective equipment for healthcare workers. Even small-scale “makers” and volunteers armed with nothing more than sewing machines and 3-D printers are pitching in.
While these efforts are heroic, business leaders can’t simply snap their fingers and transform their production lines and supply chains overnight. It could take months, for example, for automakers to fully ramp up production of ventilators—well after the (first) coronavirus peak hits the U.S.
What can business leaders do to respond as rapidly and effectively as possible? . . .
Read the full article at Chief Executive
This article was produced by Footnote in partnership with the Broad College of Business at Michigan State University.
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