TradeBriefs Editorial

From the Editor's Desk

Is It Time to Rethink Globalized Supply Chains?

The COVID-19 contagion has had a major impact on Chinese manufacturers, and because of the central role many Chinese companies play in the supply chains of other companies, the impact is being felt around the world. The disruption is particularly acute in the electronics and auto industries, but it is also affecting pharmaceuticals, metals, and a wide range of consumer and industrial products, including surgical gowns and masks.

How did we end up with such complex interdependency in our supply chains - and what should managers be thinking about once we get through this?

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TradeBriefs Editorial

From the Editor's Desk

Stuck in a cramped space? This astronaut has some advice.

Chris Cassidy is going into quarantine - but for a NASA astronaut preparing to launch to the International Space Station, that's just part of the routine. Pandemic or not, NASA astronauts are always isolated for two weeks before launch to ensure they don't carry any unwanted bugs to the space station, a process NASA calls "health stabilization." The space agency also said that it is considering testing Cassidy and his crew members for COVID-19 before they fly, just to be sure.

On April 9, Cassidy, a U.S. Navy captain and former SEAL, will join cosmonauts Anatoli Ivanishin and Ivan Vagner aboard a Russian Soyuz rocket to launch to the ISS. The trio will live and work on board the space station for six months as part of Expedition 63, which Cassidy will command. The voyage will mark Cassidy's third trip into space, having logged a total of 182 days in orbit during a 2009 space shuttle flight and a 2013 stay aboard the ISS.

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TradeBriefs Editorial

From the Editor's Desk

Forget the 80-20 Rule. Follow the 1-50 Rule Instead

If you take the 20 percent of your actions that generate 80 percent of your results and apply the 80-20 rule to it a second time, then 20 percent of that 20 percent produces 80 percent of 80 percent of your results. That means 4 percent of your effort (the 20 percent of 20 percent) generates 64 percent of your results (80 percent of 80 percent).

Hang in here with me for one more math moment and apply the 80-20 rule one final time. That means that just 1 percent of your effort (20 percent of 20 percent of 20 percent) generates 50 percent of your results!

That's right--a tiny fraction of your highest-value work produces half of all your results.

No, this is not an exact science. Nor does this just work automatically. But Pareto's Principle illustrates a valuable point: All time is not valued equally.

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