scholarly journals Crisis Prices: The Ethics of Market Controls during a Global Pandemic

2021 ◽  
pp. 1-29
Author(s):  
Kobi Finestone ◽  
Ewan Kingston
Keyword(s):  
Supply Chains ◽  
Philosophical Literature ◽  
Global Crisis ◽  
Price Increases ◽  
Global Pandemic ◽  
Price Gouging

SARS-CoV-2 has unleashed an unprecedented global crisis that has caused the demand for essential goods, such as medical and sanitation products, to soar while simultaneously disrupting the very supply chains that allow individuals and institutions to obtain those essential goods. This has resulted in stark price increases and accusations of price gouging. We survey the existing philosophical literature that examines price gouging and identify the key arguments for regulators permitting such behavior and for regulators restricting such behavior. We demonstrate how the existing accounts are designed for localized emergencies rather than global persistent crises such as the coronavirus pandemic. In light of this, we highlight an understudied justification for price gouging that is much more salient during global crises: incentivizing increased production of essential goods. Furthermore, we pinpoint three conditions that help determine whether authorities should restrict price gouging during the coronavirus pandemic and similar global crises.

Leadership for a climate resilient, net-zero health system: Transforming supply chains to the circular economy

2021 ◽  
pp. 084047042110036
Author(s):  
Neil H. Ritchie
Keyword(s):  
Supply Chains ◽  
Circular Economy ◽  
Multiple Stakeholders ◽  
Natural Systems ◽  
Climate Resilience ◽  
Global Pandemic ◽  
Net Zero ◽  
Climate Action ◽  
Zero Carbon ◽  
Single Use

The global pandemic has taught us that we can focus the attention of the healthcare system on a clear intention when there is a looming threat. Climate action is required from multiple stakeholders particularly private sector suppliers in order to achieve the net-zero carbon emission by 2050 goal established by the Canadian government. Also building climate resilience among healthcare institutions and their supply chains is urgently needed, as they are already affected by a changing climate. By adopting a circular economy framework, the industry can move away from the current damaging take, make waste economic model and adopt a more sustainable model characterized by designing out waste and pollution, keeping products and materials in use, and regenerating natural systems. Health leaders can adopt sharing platforms, product as a service, reduce single use products, encourage extended producer responsibility, and value-based procurement in order to further these aims.

Key performance indicators for a sustainable recovery strategy in health-care supply chains: COVID-19 pandemic perspective

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Towfique Rahman ◽  
Md. Abdul Moktadir ◽  
Sanjoy Kumar Paul
Keyword(s):  
Health Care ◽  
Supply Chains ◽  
Performance Indicators ◽  
Large Scale ◽  
Production Capacity ◽  
Key Performance Indicators ◽  
Recovery Strategy ◽  
Content Type ◽  
Global Pandemic ◽  
Sustainable Recovery

Purpose Supply chains’ (SCs’) sustainability practices and recovery strategies are attaining popularity in academia and industries to improve the resilience of the SCs and to manage large-scale disruptions. The global pandemic caused by the COVID-19 has raised the question of the sustainability of essential health-care products’ SCs of Bangladesh. It is an essential avenue for making the life of people safe and secure. Despite its importance, most of the health-care SCs in Bangladesh are struggling to meet the demand of its nation due to capacity shortage, technological backwardness of the manufacturers, delivery capacity shortages and less advanced forecasting capabilities. Therefore, this study aims to investigate the key performance indicators (KPIs) of a sustainable recovery strategy in the context of health-care SCs considering the COVID-19 pandemic. Design/methodology/approach This study used a dynamic method named graph theory and matrix approach to evaluate the most critical KPIs of a sustainable recovery strategy in the context of Bangladeshi health-care SCs. Findings The result revealed that dynamic forecasting and planning with a smooth delivery and distribution support system, production capacity diversification and having alternative or multiple suppliers during extraordinary disruptions may aid in the sustainability of the health-care SCs in Bangladesh. Originality/value This study is unique as no previous study has identified and examined the sustainable recovery strategy perspective KPIs considering the COVID-19 pandemic in the context of Bangladeshi health-care SCs. This study will also add value by guiding decision-makers of the health-care SCs of Bangladesh to adopt strategies toward the sustainability of SCs.

scholarly journals Review of the influences of COVID-19 pandemic on tourism

2021 ◽  
Vol 275 ◽  
pp. 01019
Author(s):  
Yunzhi Lin
Keyword(s):  
Wildlife Conservation ◽  
Tourism Industry ◽  
External Support ◽  
Economic Stability ◽  
Global Crisis ◽  
Ongoing Research ◽  
Deep Impact ◽  
Global Pandemic ◽  
Recovery Strategies ◽  
Retail Payments

COVID-19 has become a major global pandemic since Jan 2020, which has made a deep impact on tourism industry. There is ongoing research about how the tourism industry is impacted by this global crisis. Researchers have explored the ways to transform e-tourism during pandemic, a special opportunity for e-tourism. In addition, researchers had investigated how the disruption of tourism affects other industry, such as retail payments and wildlife conservation. They found that these two industries incurred loss due to the disruption of tourism to some extent and also gave some suggestions on recovery strategies. What’s more, researchers have investigated the condition of firms related to tourism and inferred that firms are hard to survive if crises lasted for more than four months without external support. At last, researchers have tried to find solutions for tourism industry to recover from the disruption. In comparison with the promotion of domestic travel, bridging travel and travel tech is more effective and highly recommended by researchers. It is meaningful and significant because tourism industry is one of the fastest growing industries which is expected to be the key contributor of regaining socio-economic stability after the pandemic.

scholarly journals New challenges for the defense industrial enterprises of Ukraine in the conditions of the global pandemic

2021 ◽  
Vol 10 (37) ◽  
pp. 45-55
Author(s):  
Nadiia Skliar ◽  
Vitaliy Begma ◽  
Oksana Vrublevska
Keyword(s):  
Supply Chains ◽  
Defense Industry ◽  
Medium Term ◽  
Industrial Enterprises ◽  
Global Pandemic ◽  
Risk Sensitive ◽  
Force Majeure ◽  
New Challenges ◽  
Contractual Obligations ◽  
Restrictive Measures

The global COVID-19 pandemic has made significant corrections to international trade in many countries around the world. The article is devoted to topical issues of identifying new challenges that have arisen at entities of the defense industry of Ukraine in the context of the COVID-19 pandemic. Comparative analysis of forced changes in defense budgets of different countries and statistical analysis of industries that are connected by supply chains with enterprises of the defense industry of Ukraine, which suffer from the introduction of quarantine restrictive measures, proves restrictions on interstate trade, disruption of domestic and global supply chains and significant losses in the economy. This situation may have medium-term consequences for the country's defense budget, and the Ministry of Defense of Ukraine will be forced to apply optimization plans for effective measures of such a scale as modern sequestration. India, Thailand, and South Korea are identified as the most risk-sensitive counterparties of Ukrainian defense exporters due to the reorientation of finances to the priority segment of medicine to eliminate the consequences of the pandemic. To minimize the risk of non-performance of contractual obligations, it is recommended to review the basic terms of supply of goods under the contracts with risk-sensitive counterparties and make adjustments to force majeure clauses in regard to epidemics, as well as possible revise the contract's payment terms.

scholarly journals FORECASTS OF THE AIR TRANSPORT INDUSTRY AFTER THE COVID-19 CRISIS

2020 ◽  
pp. 42-46
Author(s):  
І.-С. Popa ◽  
І. Cetină
Keyword(s):  
European Countries ◽  
Air Transport ◽  
Global Crisis ◽  
Return Policies ◽  
Sustained Growth ◽  
Transport Services ◽  
Global Pandemic ◽  
Air Transport Industry ◽  
Transport Industry ◽  
Services Industry

The air transport services industry is one of the most affected branches of the global crisis industry caused by the new COVID- 19 coronavirus. After a sustained growth in the last decade, this industry came to report declines of almost 50% at the end of the first quarter of 2020. Given that no one can approximate how long the global pandemic will end, it is very difficult to predict how long the air transport services will return to January 2020, as well as how many operators will declare insolvency or how many they will be able to adapt their strategies so that they can make a profit. Part of global airline operators have managed to adapt their activity by operating mainly cargo flights, but even so, a very large part of the fleet remained on the ground. Through this article to followed highlighting the situation in which air transport services are found, almost half a year after the outbreak of the COVID-19 pandemic by highlighting the amounts that some European countries have not received while issuing forecasts on how in which the staged resumption of flights will take place and how the air operators will manage to follow common return policies or will develop their strategies.

scholarly journals CORPORATE SOCIAL RESPONSIBILITY OF LOGISTICS BUSINESS

2021 ◽  
Vol 138 (4) ◽  
pp. 56-67
Author(s):  
KHARSUN Liudmyla
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Supply Chains ◽  
Service Providers ◽  
International Standards ◽  
Development Programs ◽  
Doing Business ◽  
Global Pandemic ◽  
Wide Range ◽  
Corporate Social

Background. The activities of logistics companies require introduction of mana­gement tools of corporate social responsibility (CSR) at the strategic and operational level today. Accordingly, the issues of specific features, manifestation forms and promising areas of development of socially oriented logistics business are relevant. Analysis of recent research and publications has shown that there is a wide range of publications about CSR nature, principles, forms and its implications for enterprises. However, the features of socially oriented development programs by logistics companies are not studied. The aim of the article is to investigate the peculiarities of manifestation of corporate social responsibility, the forms and directions of its implementation in the activities of lo­gistics service providers in the context of modern global challenges. Materials and methods. Methods of comparative analysis, synthesis, systema­tization, generalization were used in this paper. Results. Thanks to socially oriented approaches to doing business, logistics com­panies are often able to achieve significant resource savings, solve staffing issues, support innovative development, establish and maintain transparent and mutually beneficial rela­tionships with all stakeholders in supply chains. The main areas of CSR for logistics companies are environmental, which is manifested in the plane of transport and ware­housing operations; economic area ensures the efficiency and reliability of logistics chains, development of economic systems; social area is in the context of labor relations and ensuring consumer rights. Operators of the Ukrainian logistics services market are actively implementing CSR practices and confirm this fact with certificates of compliance with international standards. During the COVID-19 pandemic, logistics companies significantly expanded socially oriented business practice. Conclusion. In the context of the global pandemic crisis, new threats and challenges are emerging for logistics operators, related to their increased accountability to society and growing risks to the uninterrupted functioning of supply chains. Keywords: corporate social responsibility, logistic companies, sustainable deve­lop­ment programs, socially oriented activities, virtuous partnership, standards of sustain­nable business development.

What's the Matter with Price Gouging?

2009 ◽  
Vol 19 (2) ◽  
pp. 275-293 ◽  
Author(s):  
Jeremy Snyder
Keyword(s):  
Economic Benefits ◽  
Price Increase ◽  
Respect For Persons ◽  
Equitable Access ◽  
Price Increases ◽  
Price Gouging

ABSTRACT:When prices for basic commodities increase following a disaster, these price increases are often condemned as 'price gouging.’ In this paper, I discuss what moral wrongs, if any, are most reasonably ascribed to accusations of price gouging. This discussion keeps in mind both practical and moral defenses of price increase following disasters. I first examine existing anti-gouging legislation for commonalities in their definitions of gouging and then present arguments in favor of the permissibility of gouging, focusing on the economic benefits of price increases following disasters. I argue that gouging takes the form of a specific failure of respect for persons by undercutting equitable access to essential goods. While I discuss anti-gouging legislation throughout this paper, my aim is to give an account of the moral wrongs associated with gouging rather than guidance for developing morally defensible anti-gouging legislation.

scholarly journals Supply Chain Management in a Global Pandemic

2021 ◽  
Vol 291 ◽  
pp. 07006
Author(s):  
Pavel Sizov ◽  
Zinaida Khmelnitskaya
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Supply Chains ◽  
Network Structure ◽  
Digital Technologies ◽  
Personal Hygiene ◽  
Logical Scheme ◽  
Chain Management ◽  
Logistics Systems ◽  
Global Pandemic

The article is devoted to the actual problems of supply chain management in the context of a pandemic. The difficulties faced by transport and logistics systems are considered in general. We described digital technologies, the timely introduction of which helped to maintain the sustainability of supplies, especially regarding the supply of food, personal hygiene and protection products, and medicines. The principles of testing the effectiveness of the implementation of digital technologies and methods in supply chain management were formulated. We proposed a methodology and a logical scheme, which enables to build and analyze a model of the network structure of supply chains, to identify “pain points” in supply chains to maintain the sustainability of the system. The practical approbation of the proposed approach was carried out.

scholarly journals Future competences in times of an economic crisis

2021 ◽  
pp. 223-233
Author(s):  
Anna Łupicka
Keyword(s):  
Supply Chains ◽  
Economic Crisis ◽  
Global Changes ◽  
Highly Qualified ◽  
Pharmaceutical Sector ◽  
Turbulent Environment ◽  
Global Pandemic ◽  
Self Sufficiency ◽  
Current Economic Situation ◽  
Transnational Companies

Purpose: The aim of the chapter is to present the competence patterns before and during the economic crisis and to determine the importance of individual competences for doing business in a turbulent environment. In many sectors of the economy, global changes triggered by Covid-19 called into question the use of existing sets of competences needed to run businesses effectively in supply chains. The continuous improvement of supply chains – or lean and agile management – will no longer work in current conditions. Faced with an increasingly unstable economy triggered by a global pandemic, many economists ask whether the existing competence patterns in companies or supply chains remain appropriate and proper for the current economic situation. Design/methodology/approach: In 2017, a survey was conducted among selected experts in the pharmaceutical sector. The same questionnaire distributed in September 2020, during the Covid-19 pandemic. The experts were highly qualified managers employed in transnational companies. The 10 respondents were asked to indicate selected competencies. The choice of the pharmaceutical sector was motivated primarily by its specific characteristics as it is particularly important not only economically but also socially, by providing life-saving medicines. Findings: Technical competences are becoming the necessary ones. This is due to the need for self-sufficiency in lockdown situations, when it is difficult to find external employees and the possibility of outsourcing skills. In the case of managerial competence, it is clear that creativity and entrepreneurial thinking have increased in importance. When analyzing social competences, what comes to the fore is diversity of intercultural skills: foreign language skills, the ability to compromise, the ability to transfer knowledge, and finally, the ability to adapt to change. Originality and value: This chapter answer what competences seem necessary for future managers in the pharmaceutical industry in a turbulent environment, which is crucial for research and teaching centers who seek to educate future managers at the highest level of specific competences and skills. Due to the dynamic development of the industry, the text identifies the needs in the areas of technical, managerial, and social skills.

Enablers and Barriers for the Transformation of Manufacturing After the COVID-19 Global Crisis

2022 ◽  
pp. 1-20
Author(s):  
Erdinç Koç
Keyword(s):  
Resource Management ◽  
Human Resource Management ◽  
Supply Chains ◽  
Human Resource ◽  
Global Crisis ◽  
Difficult Situation ◽  
New Normal ◽  
The World ◽  
Technology Level ◽  
Production Facilities

It is obvious that COVID-19, which is one of the main agenda items of humanity, has an effect on global production facilities. It has been tried to create a roadmap for producers to overcome existing and similar crises with proactive solutions. The reflections of the global crisis on production are carefully examined in the study. The epidemic is not limited to a single country, but affects all parts of the world, leaving supply chains and manufacturers in a difficult situation. Just as the concept of the new normal for consumers has come to the fore, the necessity of adapting to the new norm by implementing certain technologies that have been emphasized in recent years is now more clearly felt for manufacturers. The pandemic process experienced and the difficulties and enablers that producers face/will face afterwards are explained in detail under the headings of human resource management, flexibility, sourcing, technology level, logistics.

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