4 Broadcaster Press March 17, 2020 www.broadcasteronline.com Supply Chain Expert: Watch Applying for For Counterfeit Goods And Start a New Job Managing Risks Around Coronavirus By Daris Howard RAPID CITY, SD — The run on toilet paper, hand sanitizer and face masks at retail outlets around the nation is one example of the kind of supply chain disruption businesses need to prepare for as the coronavirus outbreak evolves. The public fear around the coronavirus is coupled with the closing of factories and ports at major manufacturing centers around the world. The resulting supply chain disruptions have sent a shock wave through markets. All of this is leading to significant uncertainty for investors, managers and owners. Daniel Stanton, author of the book Supply Chain Management For Dummies, is an entrepreneur in residence at South Dakota School of Mines & Technology. He says it’s never too late to start managing risks. “Right now, every manufacturer, distributor, retailer and logistics company should have a rapid response team in place that is monitoring the news and keeping track of their supply chain. These folks need to connect the dots quickly to identify how the coronavirus is evolving and respond in ways that minimize the impact to your supply chain,” he says. Stanton says business owners and managers should strive to get one step ahead of the evolving situation. “I think too many leaders are taking a ‘wait and see’ approach, instead of responding proactively. Yes, there are a lot of unanswered questions. But there are also a lot of things that we’re pretty sure about, such as how the disease is being spread. We also know it is going to get worse before it gets better,” says Stanton. “The good news is that most companies have a lot more inventory in their supply chains than they realize, and this acts as a shock absorber when there’s a short disruption. But the longer that the coronavirus outbreak goes, the more likely we are to start seeing shortages of all kinds of products. Small companies in particular are going to run into financial difficulties if their cashflow is disrupted for a long time. Stanton is the company president and cofounder of SecureMarking, Inc. His business provides a powerful new tool for manufacturers, distributors and their customers to combat the growing threat of counterfeit, black market and grey market products in global supply chains. The technology behind SecureMarking Inc. was developed at South Dakota Mines. Stanton says the supply chain disruption opens the door for more counterfeit goods. This doesn’t just mean brand name items. It could also threaten important safety components inside the electronic goods we use every day. “Any time that there are shortages of legitimate products in the marketplace, it creates an opportunity for counterfeiters,” says Stanton. “Companies become desperate to fill orders and may “relax” their procurement rules and quality standards. That creates the risk of contaminating the entire supply chain with fake and low-quality materials, which can do even more damage than the original disruption.” For average consumers, this also means uncertainty. Stanton says the public often takes supply chains for granted. “People don’t realize where the things we buy come from, and how many people are involved in the process,” says Stanton. “When there’s a disruption that prevents people from coming to work, sooner or later that gets felt by their customers — the folks downstream in the supply chain. But it also gets felt by their suppliers — the folks upstream in the supply chain. Because if your customer isn’t making and selling their own products, then they aren’t going to buy materials from you, either.” Stanton, PMP, CSCP, SCPro, MCSE, MCP, MBA, M Eng, is a global executive with expertise in supply chain management and project leadership. He has worked with Caterpillar, the U.S. Navy, APICS (now ASCM), MHI and several smaller firms. He is an alumnus of South Dakota Mines and has also been a professor at Bradley University, Jack Welch Management Institute and National American University. Stanton is recognized as a LinkedIn Learning Insider, a "Pro to Know" for Supply & Demand Chain Executive Magazine and a Supply Chain Futurist for IBM Sterling Supply Chain. 6 3 ????3???3???36???????  3 ???3?37??????34?3?3???35??????????3?????3???????? TRUCKLOAD SAVINGS! NO CLUB TO JOIN - NO FEES TO PAY - JUST THE LOWEST PRICES! HURRY IN FOR BEST SELECTION WHILE SUPPLIES LAST! Prices Good March 15 – March 21, 2020. 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A few days later the secretary called and asked me to come in for an interview. I arrived early and was directed to a lounge where I could wait with the other applicants. Jobs were somewhat scarce, and my heart sank as I saw the large number of people who had applied. As a group, we were ushered into a large conference room where all of the school’s teachers and administrators were waiting. After we were seated, the school’s director addressed us. “Just so you understand, we are not looking for a math teacher because we necessarily feel our students need to learn math, but because the state recently informed us that they are going to require all of our students to have at least a basic proficiency in it or they will cut our funding. To be honest, there are some here who feel that a math class is a big waste of valuable teaching time.” “You can say that again,” one of the teachers said. “David,” the director replied, turning to the teacher who had spoken, “since you obviously have a strong opinion on the subject, why don’t you go ahead and express it?” “I teach auto body,” David said. “Can any of you give me one good use of mathematics for a student who works on cars? No, you can’t, and let me tell you why. There isn’t one. My students should be spending their time learning how to detail and perfect the way a car looks, not wasting their time doing useless math.” “Now wait just a minute!” another man said. “Yes, I teach engineering, and indeed we use a lot of math, but I use it in simple things, too, even in something like balancing my checkbook.” David rolled his eyes. “I’ve heard it all before. Blah, blah, blah, you can’t live without it. Well, let me tell you, I’m no math genius, and I do just fine.” Many other opinions were expressed, with some of the discussion becoming quite heated. I learned that the spectrum ran from those like David, who felt his students didn’t need it at all, to Bill, the engineering teacher, who wanted his students to have all the math they could. I also learned that they wanted this discussion out in the open so those of us applying for the job would understand the sentiments of those in the school and not be surprised. “Well, we have to do it,” the school director said. “So, what room can we use?” “How about my classroom,” David said with what I felt was a bit of a smirk. “It is the biggest and nicest classroom in the school.” “Thank you, David,” the director replied. “Knowing how you feel on the subject, it’s nice of you to offer.” David grinned. “It’s my pleasure. Besides, if my students are doing math, I won’t be using it.” When that meeting ended, the director and a smaller group of teachers, including David and Bill, interviewed each applicant individually. That was when I learned that the administration only wanted to pay for one class, even though they expected the math diversity to range from simple addition for some to logarithms and complex numbers for others. The next morning, the secretary called and said I had the job if I wanted it. I felt proud to think that I was chosen from among all of the applicants. I prepared all morning and went later that day to teach my first class. That was when I found out why David had volunteered his classroom. He moved a car from across the shop to right by where I was teaching, and while his students were with me, he sanded the car, ground on it, and did whatever else he could to make noise. Bill dropped by to see how it was going. Yelling over the din, I told him I felt honored they had chosen me. He laughed and patted me on the back. “Don’t get too big of a head over it. After the discussion yesterday, every single one of the other applicants withdrew their applications.” And as I tried to teach over the sanding and pounding, I wondered if they, perhaps, were smarter than I was. (To be continued) Great rates. Personalized service. No hoops. Klement's Original Summer Sausage ® each • 24 oz. 573-8398 549 18-Pack Sale each Pringles Snack Stack ® • ssorted flavors A - 13.1 oz. 574-2133 Some grocery products not available at some locations. Visit SHOP 1,000s OF GROCERY ITEMS IN-STORE OR AT HHHHHHHHHHHHHHHHHHHHHHHH /Grocery 399 Mix 10-Pack Chex Sale each ® Multipack 177 E Main St | 605.248.2233 CorTrustBank.com • raditional or Cheddar - 1.75 oz. T single serve bags 574-6176 /StoreLocator for availability. Raise Your Expectations 137 N Main St | Artesian | 605.527.2217 101 W Main St | (605) 624-4461 CorTrustBank.com ID 405612 CorTrustBank.com