YouSaid · the spoken record

Jennifer Bisceglie

lines on the record: 21
first: 2022-04-02
most recent: 2022-04-02
sittings or episodes: 1
sources: podcast

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“A crisis, and we're very sad for the people that are being impacted. But from a supply chain standpoint, it's just one more example of why you need to be continuously mapping and monitoring your supply chain, because these interruptions will continue to occur if it's not the Ukraine and Russia, it's some other part of the world, it's a cyber breach, or just a business failing, and you really need to understand.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“I think that what has improved over the last couple years is folks really thought supply chain was just, am I getting my clothes, my shoes, my food to the right place at the right time? Now we're really understanding that the supply chain is core to the brand and the reputation of every company around the world, which is why the CEO and the board are having discussions around the health of their supply chain at least twice a month, which has never happened to us before. Right now, you can literally buy a pair of sneakers based on the health of the supply chain. If you go to Nike's website, it actually shows you the provenance of sneakers. You can partner with different health food companies based on the provenance of their supply chain back into the rainforest. Consumers are making these decisions. And so I think brand reputation, the companies that are going to be strongest, that's really tied to the supply chain in a way that hadn't been there before.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“So I would tell you throughout the platform, it's dynamic. So part of what we've been able to do is build a very strong methodology that says when we actually change a score, we changed it because it's material. And so we've actually made sure we don't over alert because the crisis with Ukraine was so severe pretty much everyone score changed somewhere in their extended supply chain. It just mattered whether it was proximity-wise tier one, tier two, or tier three. So you saw a shift. You saw a different visual cue. You saw a red dot pop up, but the intent was not to have 15 changes as much as one or two to point you exactly where you were exposed.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I think we don't want to be known as a scoring platform because I think the world is just too dynamic for a simple scoring platform. In our platform right now, Bob, we're monitoring over 350 million business entities globally. So if I can distill everything that's happening in the world across 350 million entities, across 220 some different risk areas into six categories into one score and then visually queue you with a red light that says you need to pay attention to right here. I think I've done my job.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“So, personal story is I get really overwhelmed with a lot of information quickly. And I think the world we live in right now, we are inundated with information. And so a picture's worth a thousand words and we just took it back to basics. Our job is to distill and to direct. And that's what we do with our visualizations.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“So, the answer is yes. So we have a score for six different categories, everything from financial risks to cyber to ESG to restricted countries, operational risk. And then we actually create an overarching eye score. We have all of the information below it, but I as a professional need to have one answer that says, yes, I need to take action or no, I don't need to take action, and that's the Intero score of the I score. And so we're able to give you your supply chain health at any moment's notice because we are continuously monitoring when we provide a company the i score, it's not just for them in an isolated world, it's for the next two tiers out because we've already taken into consideration using artificial intelligence that cascading effect because no company can do this by themselves.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“I'm hoping we're not creating kind of a fear situation here. I think it's a wake-up call. I think that there's the opportunity for unique innovation. I think there's the opportunity just to do business in a better way. You know, when I started supply chain was kind of warehouses and trucks, and that's what everybody thought it was. We've realized that literally the strength or the weakness of your supply chain is your brand, your reputation, and you're just your ability to meet orders and satisfy what your shareholders are looking for. The other thing that we've seen really become part of the mainstream conversation is ethical sourcing and sustainability. We are seeing large procurement and supply chain organizations actually absorb the corporate ESG mantra because the consumers are making a decision on how are you sourcing. Are you giving back to the earth? Are you making the world a better place for years to come? And so you're seeing a mashup.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“Well, if you think about the pandemic, some people call that a black swan event. And it was the slow path across the world. So we actually on our platform visualized the pandemic and everything went from red starting in Wuhan and kind of white on the rest of the world. And then everything went pink. And suddenly everything was red. The situation with Russia and Ukraine, it's very severe. The pandemic was more of a ripple effect, whereas Ukraine and Russia, it's a cutting off of the economy. And people do weird things when severe things happen. Like you have large aerospace defense company buying up all the titanium available in the world. And then everybody else reliant on that same source of supply don't know what to do. There's what they call a bull whip, which is you have companies that are buying up everything available and what does that do to the rest of the...”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“You are. I think it's a positive that we are taking innovation. We're taking the cost of doing business and we're taking the proximity of doing business and shifting. We were so mired in these just-in-time supply chains for so very long and we just assumed, and when I say we, global economy, we just assumed they would continue to operate. And so this has been a really big wake-up call where every country, every company of every size has now been educated that the status quo is not good enough anymore.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“So great question, and it is. I actually think this is a positive. Back in the 90s, we built supply chains to be very short, very just in time and very fragile. And so the opportunity now that we've all felt the shocks repeatedly is how do I build operational resilience and agility? When is an extended global supply chain not a good thing? That's a really good conversation to have. And that's really coming down to alternative sources. It's giving other parts of the world the opportunity to get into the developed economy. And so if you think about what's happening with Ukraine and Russia, it's giving China the opportunity to diversify and to get stronger, but it's also getting other economies like India to say, hey, we can do this too.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“We took a phone call from a very, very large agricultural company that had many people and factories over in Wuhan. And their supply chain, and I'm only talking two years ago, Bob, their supply chain was on an Excel spreadsheet. And I think that's what we need to stop.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“The realization is that everyone is exposed. Just accept it. You know, acceptance is the first step. There is no industry that's safe. So what do you do? It sounds very basic, but you have to understand the extended supply chain and who you're connected to. And then you have to continuously monitor. You know, Bob, when I started in this industry, it was a survey once a year and that was okay. You wanted to be a supplier with me. I'd give you a wad of paper. And then we check in once a year and just say, hey, has anything changed? You're now realizing that you can't wait just once a year to do surveys. This is not a manual process and people can't stay ahead of it. You have to map. You have to continuously monitor. And you also have to have an operational resilience plan thought of ahead of time. When we get hit, not if we get hit, when we get hit, this is how we're going to operate is really what the executive suite needs to invest in. When the pandemic hit...”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“Definitely. And we've seen a 300% increase of attacks from a cybersecurity standpoint coming up through the supply chain. So if you take this all the way back to the early 2000s when Maersk got hit, the large shipping company, and it got sent back to slate and chalk in effort to create logistics patterns around the world, Target in 2014, same thing. That was through a small tax accounting package that came through a point of sale system through an HVAC system. So you see this attack of the supply chain coming through the connections that you're not paying attention to. Some of them are on purpose and some of them are just bad cyber hygiene. And because technology has connected us, unless we get ahead of it, map it, have transparency into the extent of supply chain and put the proper mitigations and protections in place, they'll keep happening to us.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“They are technology and the advance of technology is what's connecting us to companies and countries around the world. You know, Russia and Ukraine have exports that other parts of the world are relying on, and technology being one of them. Technology has connected us to these parts of the world in ways that we didn't realize and that we were relying on.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“Would guarantee that you are in the last 24 months, the last two years, we have seen this conversation rise out of the procurement and the supply chain world to the CEO. I mean, honestly,”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“Of the aerospace defense industry and oil and gas, which oil and gas is getting their moment in the sun because of all the sanctions going on because of the crisis. And just in those top three tiers of proximity that you just outlined, so my direct supplier, their suppliers, and then their supplier suppliers, we found if we just looked at the top 20 companies, top 10 aerospace defense, top 10 oil and gas, over one million interrelated connections between those 20 companies. They are all doing business with each other and they are all sourcing to each other. So when one thing happens to one of those 20 companies, the ripple effect, that's really what the crisis is bringing up.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“Sure, in its simplest terms, Bob, it's proximity. So your tier one supplier is the company that you know you're doing business with because you have a contract with them and they're invoicing you. So simply tier one is the one that you're directly connected to. Tier two is who they are connected to. And tier three is who the tier two are connected to reliant on contracted with. I think the thing to remember is because we are so hyper-connected, we need to be thinking broader than just a simple linear supply chain. If you're building an airplane, it's not just good enough to understand who builds the wings and the pieces of the plane. You have to realize that all those companies have other customers and other suppliers that can create a cascading effect to you based on where they're sourcing materials and services from. And that's really what we're seeing play out. Case in point, we did a study just recently on the connected.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“It was a shock to the system. You have titanium and palladium and neon gas and companies flying people around the world trying to figure out how to get access to these raw materials so that they can continue operations. And it's a real big problem.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“By the attack on Ukraine and the sanctions on Russia, we are literally cutting parts of our economy, our developed economy off, which is really sending shocks through businesses around the world. We found that at least 300,000 global companies are being impacted by the attack. And it's across industries, whether it's oil and gas, which we hear so much about, or agriculture.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“I'm a 25 plus year logistician. And what I mean by that is I was there back in the 90s when the US and every other country started offshoring manufacturing. Fast forward to the last 24 months, whether it's the pandemic or a ship getting sideways in a canal or the unfortunate crisis going on right now in Ukraine, now we know that sometimes an extended supply chain is not a good thing.”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT
“It was a shock to the system. The attack on Ukraine and the sanctions on Russia, we are literally cutting parts of our economy off at least three hundred thousand global companies are being impacted. Never before has this conversation been at the CEO and the board level as it is today. Everyone is exposed. Just accept it There is no industry that's safe, so what do you do? You have to map, you have to continuously monitor. And you also have to have an operational resilience plan thought of ahead of time”
2022-04-02 · Masters of Scale · Rapid Response: Inside "the most radical supply chain shift since World War II," w/Interos CEO Jennifer Bisceglie · IDENTIFIED FROM THE TRANSCRIPT