 I'm Jim Rice, I'm the Deputy Director at the MIT Center for Transportation and Logistics. And you're also a researcher here in the Center. What is your line of research? My line of research is a continuation of what I've been doing for 15 years now. Wow. And that's been an area of risk management or resilience particularly. And the work has evolved such that I really want to try to understand how companies can make that financial decision to make an investment in supply chain resilience. So what was the motivation behind your current iteration of your research? Well it really comes as a function of a couple of things. I teach a course with Dr. Jared Gensel to our graduate students and it's on supply chain financial analysis. And it's intended to help the students understand how to make the financial analysis that would support decision in supply chain resilience. By virtue of that in our continuing work and studying resilience and understanding how to create resilience, come to appreciate that there is not a standard approach that companies have for making investments in resilience. It's a little bit of a trick for companies. They have to decide to make an investment in something which if is successful nothing happens by virtue of them preventing a failure of their business. So we've seen in a number of different disruptions the Sendai disasters of common one we think about or the Katrina hurricane that had such a great impact on human life and as well as on supply chains. We saw that firms didn't really have supply chains that were very resilient. So the entire business is at risk. So in that sense they may not be quantifying actual investments but they're saying we want to protect our franchise do whatever we can now. But that's the long time to make that decision. The time to make that decision is very far in advance. And the studies that I have done in talking with companies there isn't a standard process for thinking about making investments in the risk management domain generally speaking. So as a part of this research are you looking to establish a standard framework for all companies to look to in order to make these decisions or what is really the goal of this research? What I really want to do is first I want to understand how companies currently make these decisions because I believe that there's a number of different ways that firms make those decisions. And then based on that develop some tools and methods and frameworks that can help practitioners better understand how they ought to be making these decisions or at least give them a broad range of possible ways to make the decisions because what ends up happening now is in lieu of having an analysis that provides a very positive return on investment firms don't make the investment until there's a disruption and then the coffers are open and they'll spend until like a drunken sailor to make sure that they're able to create their business capabilities. Are there any other key points that you feel we haven't hit? Well one piece of work that I didn't mention was our work developing a balanced scorecard of resiliency and this is something that came out of work that we did with one of our partners through a student thesis about a year ago and what we did was we create a way to at least start trying to measure provide at least a broad range of subject areas to provide a group of different measures that might approximate some way of understanding how resilient an organization supply chain is and includes quantitative measures as well as qualitative measures. The qualitative measures include a couple of different qualitative assessments that have been developed by a number of different organizations and then the quantitative measures include things like measuring your value at risk, measuring the cost to recover, measuring the cost to mitigate and then tracking into consideration the probabilities of these potential eventualities, these failure modes. Thank you so much for your time. Thank you very much Katie.