Intro & Outro: 0:00

Welcome to the Tennessee on Supply Chain Management podcast. Listen in as co-hosts Ted Stank and Tom Goldsby set sail into the world of end-to-end supply chain management, diving deep into today's most relevant business topics. They'll share insights in pressing industry issues and tackle the challenges keeping supply chain professionals up at night. If you're enjoying the ride, download and subscribe to Tennessee on Supply Chain Management on your favorite podcast platform now.

Tom Goldsby: 0:28

Hello and welcome to another edition of Tennessee on Supply Chain Management. I'm Tom Goldsby, your co-host, joined by Dr Ted Stank. Hello, ted, how are you doing? Hey, tom, how are you? You know, doing pretty well. I just got in from Italy last night and so I'm kind of in between time zones, but the jet lag hasn't crashed on me just yet. Yeah, didn't I see you Friday afternoon, or was that Thursday afternoon? The first thing I did was have a little touch base on this podcast, and it went fast. I was on the ground with our friends at the University of Verona for a couple of days and then got to spend my Saturday in beautiful Venice and travel home yesterday. So it's been fast and furious, but a great time, a really good opportunity to get out and about and get a little bit of a global pulse read on the supply chain world. So I'm happy to share some perspectives if you're interested.

Ted Stank: 1:27

Yeah, that'd be great, but before that you have been on a pizza trail, right? Tell me a little bit about your pizza trail.

Tom Goldsby: 1:35

Well, I guess it was just last weekend. My wife Kathy and I had an opportunity to go to New Haven, Connecticut, and it really was a pilgrimage for the tomato pizza. We had the four most popular tomato pizzas there. Don't ask me which one was my favorite, because they each had their merits in their own regard. And then we did go into New York City to try out some New York City street pizza as well, and a Broadway show. And so it's been go, go, go for the Goldsby's.

Ted Stank: 2:03

And so is that what forced you to get on a plane and fly to Italy too, is to just sample pizza in Verona and Venice, or what?

Tom Goldsby: 2:09

It was that pilgrimage. In fact, I did have some pizza while I was there. Verona is known for the risotto Amorosa, and that was delicious. I also had some spaghetti carbonara over there. I ate and drank very well.

Ted Stank: 2:24

All right, well, that sounds really exciting, and offline, you and I have to talk all about this food, but for now, let's get to the business at hand. Let's do it. A lot of crazy stuff going on that we're going to touch base on. Also, let me introduce our guest today, stephanie Pierce. She spent a 14-year career with Pepsi and Frito-Lay and proud to say she is one of our supply chain graduates from University of Tennessee and Stephanie tells me it's in the family. Her sister is also a UT supply chain grad, so very exciting to have Stephanie with us.

Ted Stank: 2:56

We'll bring Stephanie on a little bit, tell you a little bit more about her and get her perspectives on several different things Some things that are happening in her supply chain world and also talk about her career.

Ted Stank: 3:07

She's had an explosive 14-year career, has really moved up through the Pepsi Frito-Lay architecture pretty fast, and we'd really love to get her perspective on managing her career and guidance for others who are managing their careers, as well as for managers who are trying to bring on high potential folks and give them an opportunity to stretch.

Ted Stank: 3:29

Before we get to Stephanie, though, let's talk a little bit about what's going on in the world today, I think on every supply chain manager's mind is tariffs, and so we need to at least touch base on tariffs and where we stand, tom, as we record today, we're coming out of the May 10th and 11th weekend in which US trade representatives went and met with Chinese trade representatives, and have come out of the weekend with a 90-day moratorium on the 145% US tariff and 125% Chinese tariff, and have both agreed to go to a 30% tariff over those 90 days, with potentially a reset in trade negotiations between US and China, in fact, broader reset of the entire economic conversation between the US and China. So that's the headlines we're hit with today as we start, which I think is really good news for supply chain managers. That news followed an announcement last week of a reset of conversations in trade between the United States and the UK as well.

Tom Goldsby: 4:34

You're going to get a better price on your Jaguar now, Ted.

Ted Stank: 4:38

Yeah, I'm in the market for that Jaguar. No, that would be our good friend Terry Esper, not me. Shout out to Terry. Yeah, shout out to Terry.

Tom Goldsby: 4:46

Hey, you know, I think it's interesting, you know, based on what you shared there. Yeah, there seems to be this exuberance out of arriving at only a 30% tariff being applied to Chinese imports and then they reciprocated at is it 10% on US goods that they're importing, reciprocated at is it 10% on US goods that they're importing? And I think that's just an interesting place in which we find ourselves, that we're celebrating only a 30% tariff. And, by the way, ted, something I was wanting to ask you for today's podcast is can you share the formula for that 145% figure, where that came from?

Ted Stank: 5:23

No, it's way too complicated. It would have to be a linear program that I would have to show you and how we arrived at that. You only have one PhD right. I was consulted quite heavily on.

Tom Goldsby: 5:33

I'm sure, I'm sure, so I'm sure that 30% was arrived at in just a scientific fashion.

Ted Stank: 5:38

It was during the Biden administration. It was 25%, right, so we're not talking about a huge difference.

Tom Goldsby: 5:45

5% is 5%, but it's not that's if you interpret it as a raw 30%, it's not an incremental, and we were talking about this over lunch, right? I mean as to whether or not that was an incremental 30%, or if it's a flat, if you will, 30%, but you're right, I mean it's more reasonable. What we can expect is the spigot is going to be turned back on for Chinese goods, because it had been virtually shut down for the period of the last what five weeks, and we've had the blank sailings, and you're certainly seeing it in the West Coast. Port activity is way down, and it's going to drop even further because those blank sailings would ordinarily be making their way to the coast right about now. So I think 30% resumes the operation at a higher price, though, and so we will continue to see folks be very diligent about those inventory levels and figuring out okay, do we absorb that tariff or do we pass it along to our customers?

Ted Stank: 6:43

Yeah, there was a lot of talk about progress being made with India over the last few weeks. I think India has been a bit preoccupied in their conflict with Pakistan over the last week or so. We're in a ceasefire right now between India and Pakistan, although there's reports that both sides are breaking the ceasefire, so we'll have to kind of play that by ear as well. And I bring up India only because everyone was saying previous to this that India was going to be one of the big winners of companies shifting their sourcing from China, and so if India goes into a hot war with Pakistan, hold the bets on that as well, right? So it just goes back to the fact that we were in this incredibly volatile and uncertain time for supply chain managers, which makes things really difficult for us all, because we like stability.

Tom Goldsby: 7:30

Well, as I've been sharing with anyone who would listen. And again, we're predominantly going out to supply chain professionals, and so this message will probably resonate with our listeners. But supply chain professionals are expert problem solvers. However, when the inputs to the problem continuously change, we have a really hard time with that dynamic algebra, and most of our decisions need weeks, months or even years to be implemented, and so I think that's why we're all pretty logical people, but when the logic is hard for us to understand and it's again changing so routinely, when the logic is hard for us to understand and it's again changing so routinely Unfortunately I'm not hearing much about reshored operations out of these latest movements, right, I mean, it seems like any tariffs that would have to be in place would be sustained indefinitely I'm talking years out before we're going to reshore a lot of those operations and instead folks are looking for that China 1 plus 2, 3, what have you number of companies to diversify the portfolio.

Tom Goldsby: 8:30

But, ted, that takes me back to the argument you've been making for over a decade of maybe regionalizing supply chains.

Ted Stank: 8:38

Yeah, we published a book in 2014, based on some work that we did in 2012 and 13, that said the world is moving to regional market and supply chain hubs. Right, where's your big market area? Establish a regional supply chain around that that enables you to parcel out the risk and not put all your eggs in one global supply chain basket. And you know the fallacy is US manufacturing has been growing, certainly in a value standpoint, but also in a job standpoint, over the last several years. I don't see it ever going back to what it was in 1975, right, 1985.

Tom Goldsby: 9:13

Well, I think where we are now is. You do find US manufacturing in what I refer to as high value to touch industries right, those things that are going to be pretty complicated, like automobiles and aerospace, maybe some electronics or areas that have high automation Automation costs about the same here as it does anywhere else in the world, and it does make a lot of sense from a supply chain standpoint to source where you sell, if at all possible. But hey, we've gotten caught with the addiction of low cost country sourcing. It's a tough addiction to break.

Ted Stank: 9:46

I'll tell you what I'm going to be really interested to see before the July moratorium on the first batch of tariffs what happens with Mexico in particular in terms of that tariff negotiation, and supposedly there's a good rapport between the new Mexican president and President Trump, so we'll see if that pans out. So what it appears to me, Tom, is that you and I really don't know any more than anybody else about what's going on with all this tariffs.

Tom Goldsby: 10:10

What we're willing to do, though, is stick our necks out right, Because I know you've been fielding a lot of media requests, and I have too, and you know we're in that position of digesting a lot of information, a lot of opinions. We're fortunate to have such a vast network of supply chain pros that we can tap into and get a sense on what's on their mind. Hey, how's that for a transition to our guests?

Ted Stank: 10:31

What do you think, absolutely. You know, the one trend that I think that we see, the bottom line this discussion, is that most of us were banking on the fact that the April 2nd, liberation Day tariff announcement was really establishing a baseline for negotiations and, you know, and establishing a way to leverage those negotiations in the US favor. And I think what we're seeing over the last couple of weeks is proof of that, at least Perhaps.

Tom Goldsby: 10:58

At least, that's going to be our hope. Right Again, I just got to count you there, ted. Just the possibility that maybe 145% seemed like a good idea, and it was only when the markets reacted and supply chains and businesses reacted and CEOs of three major corporations retailers said yo man, you got to cut this out. So it could be some wisdom. I think you've given Trump a lot of credit for being this master negotiator. It could be that he put his hand on the stove too. Is the other option? Sure, absolutely.

Ted Stank: 11:30

But I'm not going to go there. This isn't a political podcast, all right? Yes, so let's welcome our guest, stephanie Pierce. As I mentioned, stephanie has had a 14-year career with Pepsi and Frito-Lay. She's a 2011 University of Tennessee Supply Chain Management grad. She's had a lot of different roles with Pepsi, including some in long-term planning and team development, and we'd love to get Stephanie's take on a lot of things that we've been talking about here, as well as some of the things that she's seen in managing her career and some of the lessons learned that she's had. Stephanie, welcome.

Stephanie Pierce: 12:03

Thank you for having me today. Really appreciate joining the group.

Ted Stank: 12:06

Great to have you with us, Stephanie. You told me something interesting when we were getting ready on your take on whether we would see a big uptick in buying over the next 90 days from suppliers in China. Could you share that with us again?

Stephanie Pierce: 12:20

Yes, from my perspective, from what we're seeing and what I'm hearing from my peers in the industry, is that the instability and the way we've seen the news reports come out. I think that the initial buy and reaction happened and I think everyone is looking to assume that this pattern of backing down will be the new course and I think you're going to see less folks react to the increased buys, especially as we go into that back to school holiday time frame where folks are just looking to manage the bottom line and not take on the increased costs potentially. So I'm hoping that this is the beginning of a more stable regime and that we can see companies get back to a more stable business environment with making those decisions and what we're bringing in, especially from China.

Ted Stank: 13:16

Absolutely and certainly the markets reacted today supporting that notion right.

Stephanie Pierce: 13:20

Yes, very much so.

Tom Goldsby: 13:22

Well, that's what we're always seeking. Right Is stability. It kind of goes back to that algebra problem. Stephanie, I suspect that you were really good in math and algebra and solving for the unknowns.

Stephanie Pierce: 13:33

I try, as all supply chain professionals do. We try to keep our eye on basic math. I will say the introductory accounting course was not my highlight of my transcript at the University of Tennessee, but I did my best and I'm still here, so I did well enough.

Ted Stank: 13:51

Hey, you know not only that, I'm remiss in saying that, you also are Pepsi representative on our executive advisory board. So we didn't do like a preliminary accounting exam to get on that.

Stephanie Pierce: 14:03

No, and I'm very grateful for that. So yes, I'm very honored to be the Pepsi representative on the advisory board, and you kind of mentioned it as a alum. I grew up in Knoxville and so I'm very closely tied to the city and just the overall university. So really honored to be on the board. And I think, as we continue to invest in what I call the next generation of leaders, it's important for me to stay close and understand. You know what are the courses that are being offered? How are we growing them while they're in your four walls so that by the time they come to our four walls they're really set up for success?

Tom Goldsby: 14:41

Well, stephanie, by my estimation, Pepsi really does it right in terms of engaging with the university and being very appealing to students, providing opportunities for internships that often lead into full-time employment, and perhaps that's how you might have come into the company on a full-time basis yourself. But can you maybe share with the audience a little bit about what it is that Pepsi does to be such an appealing company for our graduates and why you are so successful, dare I say, in getting so many of our best and brightest?

Stephanie Pierce: 15:14

Well appreciate the recognition and I selfishly also agree that I think that we come on campus ready to recruit and have our eyes set really on the long-term success.

Stephanie Pierce: 15:27

So I think that's one way that we show up differently that gives us that competitive edge. We're not just looking at bringing on an intern for the summer of 2025. We're really on campus in the fall thinking how does this person really look in our organization five years from now, 10 years from now? Are they a good culture fit and do they have the background that would make them successful? So one differentiating factor for us is that we really just see interns as being that full-time talent pool. My ultimate goal is to always bring enough interns in who get full-time offers to where I'm not having to come back on campus to recruit those seniors, Because for me, those interns who are able to see and live and breathe the PepsiCo culture for a summer are bought in and were bought into them, which makes it a more successful trade, I would say. And so for us, it's how do we approach recruiting in the fall to bring in those best interns that then translate into full-time talent, which then translates into that full-time, long-term leader here at PepsiCo?

Ted Stank: 16:42

Yeah, you know, those internships really amount to eight or ten week interviews, right, Both for you and for the candidate. They get to know you and your culture. You get to know them in an everyday work environment instead of you know, we can all be our best in a one-hour interview.

Stephanie Pierce: 16:56

Yes.

Ted Stank: 16:57

That makes a lot of sense.

Stephanie Pierce: 16:59

I always impress on the students, whether I'm on campus in the fall or once the interns come within our four walls. It really is that two sided street and it's us seeing does this person work well in our organization? And for them to see if it's going to work well for them, whether it's location, office environment, culture, the type of roles you want. It's the entire package and I'm totally okay with someone coming to me at the end of the summer and saying this isn't the right place for me. I would much rather that happen at the end of a summer than for it to happen two years in.

Stephanie Pierce: 17:33

And so it's a great way for us to do that handshake and guarantee that this is the right place for the interns to land full time.

Ted Stank: 17:41

Yeah, I'm sure it increases your retention rate too after you bring them on board.

Stephanie Pierce: 17:45

Yes, it does.

Ted Stank: 17:46

So I've looked at your LinkedIn profile and one of the things that really stood out to me is you've had seven different jobs with them. I know one of the things that our students are always asking for is an organization that gives them a lot of opportunity to grow and learn and do different things and not get stale. Can you talk a little bit about your career path and also your perspective on that in terms of growing your talent?

Stephanie Pierce: 18:10

So for me specifically, I came in as a college hire into the organization, started on a project where we were developing the next generation of supply chain planning tools, and that really set up my first five years in really understanding what planning is in a major CPG company and how do we move inventory through the network. Frito-lay is primarily a DSD or direct store delivery go-to-market, and so it was important for me to understand how do we call it from seed to shelf, how do we procure the potatoes that become a lace ship that then end up on the shelves at Walmart? And so those first few years were instrumental in me really understanding the network. At that point I recognized I wanted to be a people leader. I wanted to get upstream in the supply chain, as they say, and I wanted to understand more of the product supply, get more cross-functional partnership between engineering, marketing. How are we making the decisions on what next Lay's flavor is coming and how do we determine what those producers are going to be?

Stephanie Pierce: 19:21

And then I would say one key thing, and I'll note on this when I give recommendations to students and new hires there was a major shift in the way we viewed service to our major customers, and it became not just what is our internal fill rate but what are the customer service metrics, and so an opportunity came for me to go into our e-commerce, go to market and be a customer supply chain representative.

Stephanie Pierce: 19:49

I led a team that focused mainly on Amazon and servicing their supply chain metrics, and that's kind of continued through my career. One notable role I also served as the supply chain metrics and that's kind of continued through my career. One notable role I also served as the supply chain senior VP's chief of staff, which was a great way for me to learn and grow about the magnitude of supply chain in this type of organization. But overall, my career has been a mix of how are we managing the customer dynamics, which is increasing due to the prevalence of data and AI and their ability to track more at their own shelf, and then planning, which is really where my heart is for supply chain.

Ted Stank: 20:27

So you talked about how a lot of these were your choices, of what experiences you needed. Can you talk about that process? Did you have like a senior leader, mentor that you could talk about and would represent you to the organization to say, hey, stephanie wants to do this, so let's find her an opportunity there?

Stephanie Pierce: 20:46

Yes, and no One of the key mantras for PepsiCo is it's really important for you to steer your career and to voice over what is important to you and what you see as your potential next step. So I've always come in with that mentality. I would say my dad also impressed on my sister and I at an early age that your manager, your mom or dad, your coach, they can't read your mind. You just have to ask or say what's on your mind in order for it to happen, and so I've always gone into career conversations with if the organization thinks that this is the right next step or the timing is right. These are a few roles. These are the things that I think would make sense in my career path.

Stephanie Pierce: 21:33

In one example, I thought I was being siloed as more project manager and super technical, and that is not my strength set.

Stephanie Pierce: 21:43

I really wanted to be more of a dynamic people leader, to influence, to be in front of customers potentially, and so that was a really pivotal moment for me to voice to my manager at the time and to my leadership that, hey, I think I'm ready for a change. I don't know exactly what next role looks like, but these are the types of experiences I'm looking for and that's what I always counsel especially the younger college hires coming into the organization. Just speak to those things. Whether or not it happens, it may not be up to you, but at least you're starting to determine what that path may look like, and I also counsel them to look at the strategic priorities. What are the things that are getting mentioned on earnings calls? What are the things that you hear senior leaders talking about, and how do you find a role, whether it's in that new team or in that type of space, to give you that visibility in kind of that new arena? I think that that's super pivotal and that's really helped my career progress as quickly as it has.

Ted Stank: 22:49

That's fantastic. It requires that you know a lot about yourself, but also have the confidence in yourself to have those frank conversations with your boss, right?

Stephanie Pierce: 22:57

Yes, exactly, and to trust that they know what to do with it. And sometimes that's not the case either, but at least you know that you put it out there. And again, so much of it comes down to timing and patience. And so as college hires come into the organization in those kind of what we call the pivotal first five years, I always counsel them it's very important to remain patient, to set your eyes on the long term and not really think about what's the next role? But what is the next next role? And then how do I potentially shift that next role to get me to where I want to be? And it just unfortunately sometimes does take time.

Tom Goldsby: 23:41

That said, it must be working because I think, more than just about any company with which we engage, from a recruiting standpoint again, pepsi not only has success in attracting, recruiting that talent, but also retaining the talent and, like I said, it's so redeeming, rewarding for us when they come back to speak in a class or they're at the career fair and I always like to ask the question you know what's your current assignment?

Tom Goldsby: 24:09

Where did you come into the organization? And to hear about those different pathways that students have enjoyed. And, yes, in some instances perhaps they do need to be patient, but I have to admit, floored by just the variety of assignments and rotations that our students gain exposure to once they join the PepsiCo family, something I was hoping that we could touch on as well. You alluded to it a little bit earlier in terms of how PepsiCo and the snack division serves retail customers Division serves retail customers, but we had a touch base call last week and you were talking about, yes, but they then serve the consumer, everyday folks, snackers, and you shared with us that in your views, snack food consumption is changing in some ways. Can we kind of talk about that in consumer and what you're seeing in the marketplace for snack consumption?

Stephanie Pierce: 25:01

what you're seeing in the marketplace for snack consumption.

Stephanie Pierce: 25:03

Yes, so if you or your family member has gone to the grocery store anytime in the recent weeks, you can see that there are more protein offerings, there's more snacking with a functional benefit, because snacks are not just enjoyed anymore at a party or over Memorial Day weekend.

Stephanie Pierce: 25:22

Snacking is really seen as a functional experience. And you're saying folks use snacks to replace lunch as a meal additive, and so we're also obviously seeing folks want healthier options. So for a company like ours, with major breadth, there is a huge focus on us meeting the consumer where they are and guaranteeing that when you shop the shelf you see those options that meet your lifestyle. But it's still a PepsiCo brand and I am really excited. If you saw the news, we now own Siete, which, if you have not had any Siete, I would say their hint of lime tortilla chip is one of the best tortilla chips I've ever had in my whole life. But we are continuing to look at diversifying our portfolio and guaranteeing that, whether it's avocado oil or protein, that you can find the SKU or the product that you want on the shelf.

Ted Stank: 26:30

So tell us how that translates into how your supply chain changes Totally new sources, new ingredients, etc. So that means you need to develop a supply chain from start to shelf, right From seed to shelf.

Stephanie Pierce: 26:44

From seed to shelf. Yes, I would say, as you sit in a role like mine where you're leading a planning team and guaranteeing that we're set up for success, both short-term and long-term, it's really critical for us to have the processes nailed down so that, regardless of what disruption comes and what pivot comes, that we're able to just bring that into our processes and guarantee that we're still servicing the customer or being on shelf for the consumer. So, regardless of what that pivot is whether it's we need to run really fast to launch the SKU given consumer demand, or we're going to make this change to a formulation, to use a different oil that my team, even down to the analyst level, feels empowered to be able to manage through that transition, because from a day-to-day, week-to-week, period-to-period, they're still just following those same processes. It's just with a hint of disruption, not just total chaos.

Ted Stank: 27:49

Do you have like a stage gate process that you work with your research and development and merchandising teams?

Stephanie Pierce: 27:55

Yes, we do. I spend a lot of my time either in or discussing governance venues and it's extremely critical for an organization our size to be clear on who is bringing new innovation, new commercial ideas, all of those really fun, exciting things that end up on a Super Bowl commercial. But it takes a lot for all of us in supply chain to work against those efforts. So, yes, I would say a very big amount of my day-to-day job is guaranteeing that we're moving all of those new projects through the governance channels.

Ted Stank: 28:31

Hey Stephanie, can we pivot back a little bit again to the leadership conversation? One of the things I know is that you were probably what seven, eight, nine years into your career when COVID hit, and were you managing people at that time when that happened?

Stephanie Pierce: 28:49

Yes, I was managing a small team that we were very quickly forced to work from home and navigate the new environment.

Ted Stank: 28:56

So that had to been really, really big change for you in terms of your mindset of how you manage people. You talk about all the interactions and people understanding context. Can you talk a little bit about how things have changed and your leadership perspective has changed with? I assume some of your team is probably working hybrid.

Stephanie Pierce: 29:16

Yes, we are working hybrid. I would say two things. One is for college hires and folks just starting their career. When I started in the organization, it was very normal for my manager. When I started in the organization, it was very normal for my manager, my director, to be walking into a meeting and physically see me and say, oh, this may be a good one for you to sit in on, and I would just get visibility to the way they were talking and making decisions or going about the normal day to day of being a leader within the organization. And what we find is that through Zoom teams, whatever vehicle you use for meetings, virtually you lose that, like my analysts, I'm not physically seeing to say, oh, actually, this may be a good call for them to be in because you're moving so quickly.

Stephanie Pierce: 30:04

So I've really worked with my team and one thing we're trying to do differently is how do you, once a week, look at your calendar and say, hey, is there a meeting on this day? Let me think from the purview of my team, who actually needs to be at this meeting to one, reduce the meeting churn. And then, two, how are you potentially bringing other people along to be visible and to also start downloading the way leaders lead within this organization. And then two, as we think about hybrid work, I always impress on the new college hires to start looking at the dynamics in the office.

Stephanie Pierce: 30:47

Monday is a day that not very many people come in, but it's also the day that most of our supply chain leaders are in, because there's a lot of very big kind of staff meetings layered through Monday. It's also the day that they're normally not traveling. So I always tell people like, be aware of those things, maybe come in on Monday and not Tuesday. There's not as many people in the office and you can maybe grab some screen time, ask to have an in-person, because more people are here. So just be aware of those dynamics in the office and don't only come in on the one day that everyone is in, because you sometimes get lost in the shuffle.

Ted Stank: 31:21

That's great advice. I don't think that's one people think about is getting exposure to the leadership team and getting to know people on a personal level because you're around and seen. That's great advice. That brings us home, as always, listeners, please send us ideas for guests or questions that you may have to gsci at utkedu and with that we will talk to you next month. Thanks, everybody.

Intro & Outro: 31:49

Thanks for tuning in to Tennessee on Supply Chain Management. If you enjoyed the episode, subscribe today on your favorite listening platform to get all of our episodes as soon as they drop, and don't forget to take a moment to leave us a rating. Have any questions, thoughts or feedback? We'd love to hear from our listeners. Email us at gsci at utkedu. Join us next time as we continue pulling back the curtain on the world of supply chain, educating and entertaining you along the way. Until then, listeners.