Adopting supply chain strategies to address panicbuying behaviour
Abstract
This paper provides an overview of supply chain strategies to address panic-buying behaviour. It identifies triggers and lists products typically involved in panic buying. The impact on supply chains is discussed, along with roles played by each main stakeholder, as well as mitigating strategies that can help counter the situation. While no stand-alone strategy is sufficient to fully address the problem, several actions can be initiated by governments, businesses and customers. If properly coordinated there is a window of opportunity where the main effects of panic buying can be mitigated. The practical implication of this paper is to present a framework to discuss the problem, while offering a simplified roadmap with steps to mitigate panic-buying occurrences.
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Author's Biography
Flavio Macau is a Researcher and Associate Professor at the School of Business and Law, Edith Cowan University, Australia, and Chapter President and Board Member of the Australasian Supply Chain Institute. A researcher in business systems and operations, he has published one book, three case studies, a number of articles in academic journals and assisted over 120 consulting projects in the past ten years. His international media presence on TV (ABC News, TRT World Now), radio (The Money, BBC), newspapers (The Guardian, The Washington Post), and magazines (The Choice, MHD Logistics) reaches a global audience covering topics such as global logistics and supply chain disruptions.
Juliana Bonomi Santos is a Researcher and Associate Professor at FGV/EAESP Business School, Brazil. With a PhD in management science from the Lancaster University Management School (LUMS), she achieved the Emerald/EFMD outstanding doctoral research in operations management award, the Kingsman’s prize for the Department of Management Science (LUMS) best thesis and the Brazilian Federal Council of Administration best master dissertation award. She is a member of the Center of Excellence in Logistics and Supply Chain of FGV EAESP. She works as a consultant and researcher in operations, service and supply chain management.
Citation
Macau, Flavio and Bonomi Santos, Juliana (2022, September 1). Adopting supply chain strategies to address panicbuying behaviour. In the Journal of Supply Chain Management, Logistics and Procurement, Volume 5, Issue 1. https://doi.org/10.69554/SCVE7739.
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