The Power of Resilience
A catastrophic earthquake is followed by a tsunami that inundates the coastline, and around the globe manufacturing comes to a standstill. State-of-the-art passenger jets are grounded because of a malfunctioning part. A strike halts shipments through a major port. A new digital device decimates the sales of other brands and sends established firms to the brink of bankruptcy. The interconnectedness of the global economy today means that unexpected events in one corner of the globe can ripple through the world’s supply chain and affect customers everywhere. In this book, Yossi Sheffi shows why modern vulnerabilities call for innovative processes and tools for creating and embedding corporate resilience and risk management. Sheffi offers fascinating case studies that illustrate how companies have prepared for, coped with, and come out stronger following disruption—from the actions of Intel after the 2011 Japanese tsunami to the disruption in the “money supply chain” caused by the 2008 financial crisis.
Sheffi, author of the widely read The Resilient Enterprise, focuses here on deep tier risks as well as corporate responsibility, cybersecurity, long-term disruptions, business continuity planning, emergency operations centers, detection, and systemic disruptions. Supply chain risk management, Sheffi shows, is a balancing act between taking on the risks involved in new products, new markets, and new processes—all crucial for growth—and the resilience created by advanced risk management.
About the Author
Yossi Sheffi is Elisha Gray II Professor of Engineering Systems at MIT and Director of the MIT Center for Transportation and Logistics. He has worked with leading manufacturers and logistics service providers around the world on operations and strategy issues and is an active entrepreneur, having founded or cofounded five successful companies. He is the author of The Resilient Enterprise: Overcoming Vulnerability for Competitive Advantage and Logistics Clusters: Delivering Value and Driving Growth, both published by the MIT Press.
“[S]tands head and shoulders above this year’s crop of the best business books on strategy . . .”—strategy+business
“Yossi Sheffi displays a wealth of knowledge about large global enterprise in The Power of Resilience that is unprecedented. Senior executives will gain unique insights and manage much more effectively having read it.”
—Frederick W. Smith, Chairman and CEO, FedEx Corporation
“Yossi Sheffi is one of the most inventive and comprehensive thinkers in the supply chain and resiliency spaces. His latest book is a must-read for organizations hoping to leverage the strategic competitive advantages that resiliency and preparedness provide.”
—Chris Sultemeier, Executive Vice President, Logistics, Walmart
“Supply chains—logistics, transportation, and shipping—have been around throughout history, but never before has the supply chain been such an integral part of business. Yossi Sheffi does a great job of explaining why that transformation has taken place and the implications for doing business in the twenty-first century with the speed of challenges and risks facing our supply chains today.”
—Matthew K. Rose, Executive Chairman, BNSF Railway Company
“The Power of Resilience is a brilliant book that should be read by all business leaders in order to capably manage risks and create growth in the new global economy.”
—Hau L. Lee, Thoma Professor of Operations, Information, and Technology, Graduate School of Business, Stanford University
“Resilience building is as critical as risk management for organizations operating in a dynamic global economy. This book is timely and important because it enables business leaders to grasp, conceptually and contextually, the power of resilience.”
—Klaus Schwab, Founder and Executive Chairman, World Economic Forum
Named one of strategy+business's 'Best Business Books of 2016' in the Strategy category.