The disaster underscored domestic manufacturing’s position in providing critical health, security, and national-security products in addition to the sector’s need to take a position, modernize, and revitalize the manufacturing course of . Boards and administration responded to the pandemic by working more durable and collaborating more on crisis management. McKinsey additionally appeared on the US dairy industry’s tumultuous first pandemic 12 months, which included milk dumping in April 2020 even as some store dairy cases sat empty. Our survey of fifty US dairy CEOs in the fourth quarter of 2020, adopted by interviews, revealed a sense of optimism combined with concern over changing client tastes. Best practices this year embrace being proactive about well being and sustainability messaging, expanding the talent pool to include remote staff, and making supply chains extra resilient. McKinsey researchers examined how it was potential to achieve approval for three COVID-19 vaccines in a mere eleven months. The unprecedented speed was as a outcome of regulators transferring faster, corporations and governments accepting excessive funding danger for billions of dollars, around-the-clock lab work, and—because the virus spread with tragic speed—accelerated clinical trials.
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