Managing panic buying-related instabilities in supply chains: A COVID-19 pandemic perspective

Rahman, T; Paul, SK; Shukla, N; Agarwal, R; Taghikhah, F

Managing panic buying-related instabilities in supply chains: A COVID-19 pandemic perspective

Rahman, T Paul, SK Shukla, N

Agarwal, R

Taghikhah, F

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Publisher:: Elsevier BV
Publication Type:: Conference Proceeding
Citation:: IFAC-PapersOnLine, 2022, 55, (10), pp. 305-310
Issue Date:: 2022-10

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Field	Value	Language
dc.contributor.author	Rahman, T
dc.contributor.author	Paul, SK
dc.contributor.author	Shukla, N https://orcid.org/0000-0002-8421-3972
dc.contributor.author	Agarwal, R https://orcid.org/0000-0002-8493-7313
dc.contributor.author	Taghikhah, F
dc.date	2022-06-22
dc.date.accessioned	2023-04-12T04:56:58Z
dc.date.available	2023-04-12T04:56:58Z
dc.date.issued	2022-10
dc.identifier.citation	IFAC-PapersOnLine, 2022, 55, (10), pp. 305-310
dc.identifier.issn	2405-8963
dc.identifier.issn	2405-8963
dc.identifier.uri	http://hdl.handle.net/10453/169641
dc.description.abstract	Global supply chains (SCs) have been severely impacted by the COVID-19 pandemic on several levels. For example, SCs suffered from panic buying-related instabilities and multiple disruptions of supply, demand, and capacity during the pandemic. This study developed an agent-based model (ABM) to predict the effects of panic buying-related instabilities in SCs and offered strategies to improve them. The ABM model includes a simulation and optimization model of a typical SC of an essential product manufacturer (i.e., toilet paper SC) for the analysis of scenarios and strategies to observe improvements in SCs. Among the four strategies identified, the findings suggest boosting production capacity to the maximum and ensuring optimal reorder points, order sizes, and trucks helped the essential product manufacturers reduce panic buying-related instabilities in their SCs.
dc.format	Undetermined
dc.language	en
dc.publisher	Elsevier BV
dc.relation.ispartof	IFAC-PapersOnLine
dc.relation.ispartof	10th IFAC Triennial Conference on Manufacturing Modelling, Management and Control (MIM)
dc.relation.isbasedon	10.1016/j.ifacol.2022.09.405
dc.rights	info:eu-repo/semantics/openAccess
dc.title	Managing panic buying-related instabilities in supply chains: A COVID-19 pandemic perspective
dc.type	Conference Proceeding
utslib.citation.volume	55
utslib.location.activity	Nantes, FRANCE
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Management Discipline
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology/School of Professional Practice and Leadership
pubs.organisational-group	/University of Technology Sydney/Strength - CAMGIS - Centre for Advanced Modelling and Geospatial lnformation Systems
pubs.organisational-group	/University of Technology Sydney/Strength - PERSWADE - Centre on Persuasive Systems for Wise Adaptive Living
utslib.copyright.status	open_access	*
pubs.consider-herdc	true
dc.date.updated	2023-04-12T04:56:54Z
pubs.finish-date	2022-06-24
pubs.issue	10
pubs.publication-status	Published
pubs.start-date	2022-06-22
pubs.volume	55
utslib.citation.issue	10

Abstract:

Global supply chains (SCs) have been severely impacted by the COVID-19 pandemic on several levels. For example, SCs suffered from panic buying-related instabilities and multiple disruptions of supply, demand, and capacity during the pandemic. This study developed an agent-based model (ABM) to predict the effects of panic buying-related instabilities in SCs and offered strategies to improve them. The ABM model includes a simulation and optimization model of a typical SC of an essential product manufacturer (i.e., toilet paper SC) for the analysis of scenarios and strategies to observe improvements in SCs. Among the four strategies identified, the findings suggest boosting production capacity to the maximum and ensuring optimal reorder points, order sizes, and trucks helped the essential product manufacturers reduce panic buying-related instabilities in their SCs.

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http://hdl.handle.net/10453/169641