scholarly journals Consumer Panic Buying: Realizing Its Consequences and Repercussions on the Supply Chain

2021 ◽  
Vol 13 (8) ◽  
pp. 4370
Author(s):  
Rithika Dulam ◽  
Kazuo Furuta ◽  
Taro Kanno
Keyword(s):  
Supply Chain ◽  
Consumer Behavior ◽  
Supply Chains ◽  
Purchase Intention ◽  
Chain Model ◽  
Output Analysis ◽  
Agent Based ◽  
Supply Chain Model ◽  
Media Reports ◽  
The Impact

Globalization has brought not only advantages but also risks into the supply chains. One lesser studied risk is the effect of consumer behavior in crises. The recent COVID-19 pandemic has shown that the most efficient and optimized supply chains are susceptible to consumer panic buying. There is a severe need to understand the multitude of scenarios that could manifest after a catastrophe due to the change in consumer behavior so that businesses can develop a mitigation plan. The authors have developed an agent-based model that can simulate the various outcomes of a crisis using a consumer panic buying model and a supply chain model. The model quantitatively evaluates the panic purchase intention of a consumer while assessing the impact of panic buying on the supply chain. This paper introduces the implementation of the model, focusing on output analysis of the various situational settings in disaster aftermath. Preliminary study has revealed that implementing quota policy or rationing uniformly is very effective while controlling media reports or panic buying consumers can reduce consumer demand significantly.

scholarly journals Evolution of the migratory supply chain model

2015 ◽  
Vol 20 (6) ◽  
pp. 603-612 ◽  
Author(s):  
Andrew Potter ◽  
Denis R Towill ◽  
Martin Christopher
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Original Work ◽  
Future Research ◽  
Chain Model ◽  
Content Type ◽  
Supply Chain Model ◽  
The Impact ◽  
Practical Implications

Purpose – The purpose of this paper is to reflect upon the impact of the original work and provide an updated model to reflect the changing environment for supply chains. In 2000, a migratory model for supply chain evolution was proposed. Design/methodology/approach – The authors start by analysing the content of the papers that have cited the original Christopher and Towill (2000) paper. The development of an updated migratory model is informed by the findings from this, and then demonstrated through a case study of the book supply chain. Findings – Despite being the major contribution, the majority of citing papers actually use other parts of the original work, and some potential reasons for this are proposed. An extra stage is added to the migratory model, reflecting a customer centric strategy. Research limitations/implications – Given that the migratory model appears under-researched, the authors identify this as an opportunity for future research and suggest that methods less common in supply chain management are used. Practical implications – The updated migratory model can be used by supply chain managers to develop appropriate supply chain strategies for their organisations, while emphasising that many of the underlying tools to enable this reflect traditional industrial engineering approaches. Originality/value – The updated migratory model represents a new contribution to understanding the evolution of supply chains.

Influence of the Chinese Government Subsidy Policies on Supply Chain Members’ Profits: An Agent-Based Modeling and Simulation Approach

2016 ◽  
Vol 20 (4) ◽  
pp. 623-632
Author(s):  
Ran Zhang ◽  
◽  
Jie Lin ◽  
Keyword(s):  
Supply Chain ◽  
Modeling And Simulation ◽  
Agent Based Modeling ◽  
Chinese Government ◽  
Chain Model ◽  
Government Subsidy ◽  
Demand Model ◽  
Profit Model ◽  
Agent Based ◽  
The Impact

The series of subsidy policies launched by the Chinese government has affected supply chain members’ profits distribution. To explore this influence, an agent-based model was designed, and experiments were conducted under different subsidy levels. Our model focused on the ordinary business entities and their activities in the supply chain. By investigating the real world and other researchers’ studies, agent simulation class library (e.g., control agents, cooperation/collaboration agents, and fractal simulation agents) and their decision knowledge bases were designed to simulate the supply chain members’ behaviors, decision processes, and operation and production activities and behaviors. Price model, demand model and profit model under the subsidy were built to evaluate the supply chain members’ profits under different subsidy scenarios. Finally, a multi-echelon appliance supply chain model was constructed, and experiments were performed with different levels of subsidy limit. Results showed that the supply chain members’ profits increased under the government subsidy policy. The agent-based modeling and simulation method provides a novel approach to explore the impact on profit distribution.

scholarly journals Study of the Bullwhip Effect in a Multistage Supply Chain with Callback Structure considering Two Retailers

Complexity ◽  
2018 ◽  
Vol 2018 ◽  
pp. 1-12 ◽  
Author(s):  
Junhai Ma ◽  
Liqing Zhu ◽  
Ye Yuan ◽  
Shunqi Hou
Keyword(s):  
Supply Chain ◽  
Moving Average ◽  
Bullwhip Effect ◽  
Lead Times ◽  
Chain Model ◽  
Supply Chain System ◽  
Forecasting Method ◽  
Supply Chain Model ◽  
The Impact ◽  
Demand Processes

With the purpose of researching the bullwhip effect when there is a callback center in the supply chain system, this paper establishes a new supply chain model with callback structure, which has a material supplier, a manufacture, and two retailers. The manufacture and retailers all employ AR(1) demand processes and use order-up-to inventory policy when they make order decisions. Moving average forecasting method is used to measure the bullwhip effect of each retailer and manufacture. We investigate the impact of lead-times of retailers and manufacture, forecasting precision, callback index, and marketing share on the bullwhip effect of both retailers and manufacture. Then we use the method of numerical simulation to indicate the different parameters in this supply chain. Furthermore, this paper puts forward some suggestions to help the enterprises to control the bullwhip effect in the supply chain with callback structure.

Value Enablement of Collaborative Supply Chain Environment Embedded With the Internet of Things

2020 ◽  
Vol 16 (3) ◽  
pp. 19-51
Author(s):  
Samir Yerpude ◽  
Tarun Kumar Singhal
Keyword(s):  
Supply Chain ◽  
Internet Of Things ◽  
Supply Chains ◽  
Goodness Of Fit ◽  
The Internet ◽  
Chain Model ◽  
Time Data ◽  
Business Goals ◽  
The Impact ◽  
The Internet Of Things

Currently, industry is going through the fourth Industrial Revolution, also termed Industry 4.0. It is characterized mainly by the cyber-physical systems dominated by digital technologies such as the Internet of Things (IoT). Organizations are making significant effort to understand customer needs and subsequently align them to the business goals for achieving market leadership. It is imperative for the longevity of the organization that goods and services be made available to the customer at the most appropriate place, time, and price. Supply chains are contributing to achieving this organizational goal. A paradigm shift was observed in the past few decades when organizations competed as supply chains in the market more than an individual brand. This shift brought forward the importance of collaborative supply chains. Researchers in this study have presented the impact of IoT origins on real-time data on a collaborative supply chain model, including internally and externally aligned parameters. The study recommends the best model basis for the goodness of fit from the customer and vendor perspective for the automotive industry in India.

Decision-Making Coordination within Three-Echelon Supply Chains

2011 ◽  
pp. 93-107
Author(s):  
Jairo R. Montoya-Torres
Keyword(s):  
Decision Making ◽  
Supply Chain ◽  
Process Simulation ◽  
Simulation Models ◽  
Chain Model ◽  
Total System ◽  
Direct Relation ◽  
Supply Chain Model ◽  
Brownian Process ◽  
The Impact

Supply chain performance is highly influenced by the coordination level between its members, which needs information sharing. In this paper we consider a three-echelon direct sell supply chain model and focus on the problem of coordinated decision-making between its members. Our contribution is a first approach that measures the impact of the degree of coordination between the members. Demand behavior is modeled using a geometric Brownian process. Simulation models are run in order to analyze various cooperation scenarios. Our results show a direct relation between the degree of coordination within the supply chain and the total system cost. Although this result is intuitive, our simulations allowed us to quantify such a relation and in which measure these costs are whether or not associated to imperfect coordination.

Games, Supply Chains, and Automatic Strategy Discovery Using Evolutionary Computation

2007 ◽  
pp. 572-588 ◽  
Author(s):  
T. Gosling
Keyword(s):  
Supply Chain ◽  
Theoretical Analysis ◽  
Supply Chains ◽  
Evolutionary Computation ◽  
Chain Model ◽  
Bargaining Model ◽  
Supply Chain Model ◽  
Statistical Approaches ◽  
Alternating Offers ◽  
Traditional Game

The use of evolutionary computation is significant for the development and optimisation of strategies for dynamic and uncertain situations. This chapter introduces three cases in which evolutionary computation has already been used successfully for strategy generation in the form of work on the Iterated Prisoner’s Dilemma, Rubinstein’s alternating offers bargaining model, and the simple supply chain model. The first two of these show how evolutionary computation has been applied to extensively studied, well-known problems. The last of these demonstrates how recent statistical approaches to evolutionary computation have been applied to more complex supply chain situations that traditional game-theoretical analysis has been unable to tackle. The authors hope that the chapter will promote this approach, motivate further work in this area, and provide a guide to some of the subtleties involved in applying evolutionary computation to different problems.

Flexible Multi-Layered Dynamic Supply Chain Models with Cooperative Negotiation

2013 ◽  
Vol 7 (1) ◽  
pp. 128-135 ◽  
Author(s):  
Yoshitaka Tanimizu ◽  
◽  
Chisato Ozawa ◽  
Yusuke Shimizu ◽  
Buntaro Orita ◽  
...  
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Supply Chains ◽  
Chain Model ◽  
Information Flows ◽  
Chain Management ◽  
New Model ◽  
Negotiation Protocol ◽  
Business Partners ◽  
Supply Chain Model

Supply chain management has been investigated for the configuring and controlling of material and information flows among different organizations. The trend has been toward even more flexible or dynamic supply chains to find suitable business partners and enter into profitable contracts. Previous studies have proposed a two-layered supply chain model consisting of two kinds of organization: clients and suppliers. This study proposes a new model representing multi-layered dynamic supply chains and a negotiation protocol in multi-layered organizations. The organizations in the middle-layers generate both orders of parts for suppliers and offers of products for clients. Production schedules in the middle-layers continue to be modified after orders are sent to suppliers. Suppliers simultaneously generate and modify sets of production schedules for individual orders to find the most profitable order of all. The effectiveness of the model and the negotiation protocol is evaluated through computational experiments.

Information Sharing in Supply Chain Management with Demand Uncertainty

2011 ◽  
pp. 44-62 ◽  
Author(s):  
Zhensen Huang ◽  
Aryya Gangopadhyay
Keyword(s):  
Supply Chain ◽  
Information Sharing ◽  
Demand Uncertainty ◽  
Bullwhip Effect ◽  
Supply Chain Performance ◽  
Chain Model ◽  
Simulation Approach ◽  
Supply Chain Model ◽  
Trading Partners ◽  
The Impact

Information sharing is a major strategy to counteract the amplification of demand fluctuation going up the supply chain, known as the bullwhip effect. However, sharing information through interorganizational channels can raise concerns for business management from both technical and commercial perspectives. The existing literature focuses on examining the value of information sharing in specific problem environments with somewhat simplified supply chain models. The present study takes a simulation approach in investigating the impact of information sharing among trading partners on supply chain performance in a comprehensive supply chain model that consists of multiple stages of trading partners and multiple players at each stage.

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