Fortune Staff

This year’s Fortune 500 marks the 68th running of the list.

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This Deerfield, Ill. company makes devices and other products to treat hemophilia, kidney disease, immune disorders, and other chronic and acute medical conditions.

Baxter International Inc. (BAX) Company Profile, News, Rankings | Fortune

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“The old tools are not very good,” said Baxter International CEO Joe Almeida during a Fortune Global Forum virtual conversation.

Top CEOs on how COVID exposed flaws in supply chain management

International

Top CEOs on how COVID exposed flaws in supply chains

Baxter International CEO Joe Almeida says “The old tools are not very good.” 

Watch: Top CEOs on how COVID exposed flaws in supply chain management

Yes, a lot of you um and most companies have who are digital first I put a lot of investment in Big data and analytics but of course you feed big data and analytics scenarios that are known in a situation where you're delivered one black swan after another. How did how did those tools, how did those big data tools stand up to so many disruptions? That came one after the other? It's low very slow. So when you have congestion imports, when you cannot get containers you've got to know what is in containers coming from all over the world. The old does not very good. Now the industry Came up with some very interesting new things going forward. We have it by caught us by surprise. So you replace that by by just brute force but a bunch of people working 18 hours a day trying to figure out where things are. So so um the the adaptation was very fast um but there was a shock. What we couldn't predict was how much the super, I think ravi and jim spot on the amount of supply chain disruption is much greater than people had anticipated because the rebound has been so enormous and I and I think we're gonna be talking about supply chain uh supply relationship just in time conversation becoming second with tertiary to having product available and the ability to also contain uh impacts on natural disaster that is coming just around the corner. For North America for instance, we're coming right by the the hurricane season. So a lot of changes have happened. There's much more to come because what happened in Swiss canal is just one very tip of the iceberg of where the world is in disruption uh for consumers. Yeah, jim I wonder if you would agree with me that um you know, the, to the extent we were using big data analytics, we were using it on smooth repeatable operations. As Robbie points out these last two decades have been focused on getting supply side economies of scale and low cost regions whoa. You know, now the rules just changed and the parameters constraints just changed. So we've got some adapting to do. But what I'm starting to see emerge is some new tech companies with a real focus on supply chain management. I mean this is a whole profession that I think was underrated by the public for sure and by many companies as well and and we know our supply chain and logistics teams are earning their keep right now. So so looking to see some new tools emerge that do much more of the risk based scenario analysis is going to be what we will need as leaders as we enter this new arrow with so much disruption and you know what One other thing I might add is I think not only do we need to look at the physical supply chain of products that were moving around the world, but I'm starting to wonder and I'm curious whether you all saw this some disruption even on the services side where we had created pools of low cost labor handling services from one region of the world and when they got hit with covid, they couldn't really step up to the performance level they had always delivered on. Do we need to be prepared for even service disruption in this new era?

[MUSIC PLAYING] JOSE E. ALMEIDA: We have a physician who is a infection control physician. And she works with our chief medical officers, as well as our control tower. We go through an assessment that is very comprehensive. We also launched in a app internally to the company to ask questions before people go to the office. We check temperature. We require masks. We provide masks if they need. And we want to make sure that in every aspect, people are not congregating. There is space in between them. So all the things that you hear that the CDC speaks about, we're taking those instructions. Plus internally, we have also evaluated a significant amount of testing if we need to do it, where it's going to be done, and who is going to be doing it. So we have this team. We have the fortune to be a medical technology and pharmaceutical company. So we have the staff to help us navigate through these difficult times. Strong planning. Make sure that you are prepared with all the things that you need to do before you even think about opening. China is a little different. There's more traceability in terms of how people are being monitored in several cities. We have five factories in China which never closed throughout the pandemic while in China. So we want to make sure that our employees get temperature checked, they all get monitored, and don't rush to it, because today, the virtual tools are so effective. So there's no reason for taking risk with people's lives. 

​José Almeida on launching an internal app asking employees questions before enter offices in addition to checking their temperature and requiring masks while observing social distancing.

Insights: The Measures Being Implemented By Baxter International For A Healthy Reopening

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​José Almeida on launching an internal app for employees.

What Health Measures Is Baxter International Implementing

The coronavirus pandemic has already transformed the telemedicine industry. The question is: What happens to telehealth once COVID is under control?

Balancing act in telehealth

Health

What happens to telehealth once COVID is under control?

Balancing Act

there's no doubt that the post covid era is not going to look just like the pre covid era, you know, a year, two years, five years down the road. What do you think are some of the key aspects with respect to health and health care that are going to be fundamentally different here? And you mentioned already? Uh, telemedicine is one example. But maybe I'll turn to you first and then to Joe, um, to sort of give us a quick snapshot of what the future may look like because of our experience with covid. Well, first of all, um, the technology I mentioned before we which we call command center just to give you an example, bring it to life in the state of Oregon, we were able to identify 90% of capacity of all I C U beds. And so, you know, again that meant that we were able to develop patients to the right place, get treated quickly. And if you just extend that thinking to a segmentation of capacity and how we can develop more data sets, a longitudinal data sets about patients as well. Um, this is all going to be dependent on an ecosystem where a lot more data gets shared and a lot more data get, uh, ai data management. Machine learning and deep learning apply to those data sets so that we can bring better decision making and faster decision making. This is moving at a pace faster than we've ever seen before and that all companies, I think have a better mindset. And the hospitals have a better mindset about how we can probably mined data and really utilize that for patient benefit. And lastly, I would say the economics of the hospital system have changed dramatically as a result of covid 19, and what we have to do is ensure that we recover some of that through productivity. And so we're very focused on thinking through how we can apply digital technologies to smooth out workflows and achieve productivity, because I think that's going to be essential to keep operators safe, but also to reduce their exhaustion

​José Almeida says it's a "privilege" to be a CEO, and it comes with certain responsibilities.

Baxter International

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