Development of an agent-based model for the analysis of the effect of consumer panic buying on supply chain disruption due to a disaster

Dulam, Rithika; Furuta, K.; Kanno, Taro

doi:10.15748/jasse.7.102

Cited by 14 publications

(9 citation statements)

References 7 publications

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“…Pu et al ( 2018 ) proposed an ABS approach for coordinating and dynamic allocation planning of smart manufacturing enterprises supply chains. Lohmer et al ( 2020 ) and Dulam et al ( 2020 ) utilised ABS models for investigating the effect of resilience on a complex supply chain network affected by uncertainties and disruptions. Terrada et al ( 2020 ) presented an ABS model for handling decision-making problems involving information systems in management of supply chains.…”

Section: Results Of the Systematic Literature Reviewmentioning

confidence: 99%

Advancements in Sustainable Manufacturing Supply Chain Modelling: a Review

Wofuru-Nyenke

Briggs

Aikhuele

2022

Process Integr Optim Sustain

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Managers at various echelons of supply chains are continuously faced with problems of examining and improving supply chain processes with the aim of improving productivity and customer service level, while reducing emissions and total costs simultaneously. This study is aimed at presenting the trends in sustainable manufacturing supply chain modelling in order to establish the modelling approaches which have predominantly been used for improving manufacturing supply chains from years 2010 to 2020. The study employs the systematic literature review methodology for reviewing articles published within the 11-year period. We proffer a classification approach for manufacturing supply chain models, grouping these models into mathematical models, simulation models, hybrid models, and their subcategories. The results showed that though there is a rising trend in the use of simulation and hybrid models, mathematical models have been used more for sustainable manufacturing supply chain modelling. The rise in the use of simulation and hybrid models can be explained by the fact that these models tend to handle uncertain and stochastic data better than mathematical models, which perform better with deterministic data. This research will aid other researchers in recognising the current gaps in manufacturing supply chain modelling in order to identify future research directions.

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Section: Results Of the Systematic Literature Reviewmentioning

confidence: 99%

Advancements in Sustainable Manufacturing Supply Chain Modelling: a Review

Wofuru-Nyenke

Briggs

Aikhuele

2022

Process Integr Optim Sustain

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“…Particularly in periods of ambiguity, the need for announcements that promote stability (e.g., continuous availability of daily consumables) should not be neglected to prevent over-stockpiling that topples the balanced distribution of vital commodities. Dulam et al’s ( 2020 ) proposition is, therefore, recommended, which is to implement a periodical quota policy to combat crisis situations. This policy grants benefits in terms of equalised product distributions and the effective satisfaction of market demands among sellers and retailers.…”

Section: Practical Implicationsmentioning

confidence: 99%

Should I buy or not? Revisiting the concept and measurement of panic buying

et al. 2022

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Following various precautionary measures as executed by the government to curb the transmission of COVID-19, erratic changes in the form of temporary lockdowns and movement restrictions have created an emergency phenomenon—panic buying. While such consequence has emerged as a timely and relevant topic, reviewed literature indicate an apparent oversight for portraying panic buying through the perspectives of impulsive and compulsive consumptions. Given the gap in the association between panic buying and consumers’ emotional aspects within the context of the COVID-19 pandemic, this study aspires to develop a contemporary measurement that accurately defines panic buying as a research variable. A combined methodology was hereby adopted, with the employment of qualitative inquiries towards the scale development of panic buying. Following this, quantitative data as collected from a total sample of 600 respondents through an online survey was analysed via both SPSS and AMOS statistical software towards scale assessment and hypothesis testing. Obtained findings uncovered the direct significance of both personal (fear, perceived risk, and perceived scarcity) and social (word-of-mouth and social media) factors on panic buying during the pandemic, whilst having indirect significance on the ensuing post-purchase regret. Impulsivity was further confirmed to exert a substantial moderating impact on the correlation between panic consumption and post-purchase emotional distress. Implications of the study are ultimately discussed.

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“…Faced with the "fear of the unknown", consumers took precautionary actions, stockpiling essential products to mitigate the risk of a possible stock shortage, which is often called "panic buying" [27]. The term is defined as the phenomenon that occurs when consumers buy unusually large amounts of products in anticipation of, during or after a disaster or perceived disaster, or in anticipation of a large price increase or shortage.…”

Section: Panic Buyingmentioning

confidence: 99%

“…It has the potential to disrupt the supply chain with increased demand [27]. This disruption leads to more panic buying, thus creating a vicious circle.…”

Section: Panic Buyingmentioning

confidence: 99%

See 1 more Smart Citation

Innovation Strategies of the Spanish Agri-Food Sector in Response to the Black Swan COVID-19 Pandemic

Brugarolas

Martínez

Rabadán

et al. 2020

Foods

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Health, financial, and social crises cause variations in the buying behaviour of food consumers as well as in the value they assign to food attributes and the place of purchase, leading to consumers with profiles that are more susceptible to these changes than others. Thus, it was observed that 61.4% of consumers modified their buying behaviour at the onset of the COVID-19 pandemic, with those who modified it the most being the people who stockpiled the most food and went panic buying more often. This has made it possible to establish the profile of different significant consumer segments, and as a response, food production/distribution companies can implement different innovative strategies aimed at decreasing the impact of stockpiling and, therefore, the shortage of food. The possible strategies that companies can put into effect are creating a stock of non-perishable foods, increasing production capabilities in a sustainable way and, especially in light of the results obtained, boost the online sale and distribution of foods, with the goal of decreasing the amount of people in shops (which decreases the spreading of the pandemic and favours health) and preventing consumers from observing possible circumstantial shortages that would only encourage stockpiling and panic buying, even among consumers who have not changed their buying behaviour.

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Development of an agent-based model for the analysis of the effect of consumer panic buying on supply chain disruption due to a disaster

Cited by 14 publications

References 7 publications

Advancements in Sustainable Manufacturing Supply Chain Modelling: a Review

Advancements in Sustainable Manufacturing Supply Chain Modelling: a Review

Should I buy or not? Revisiting the concept and measurement of panic buying

Innovation Strategies of the Spanish Agri-Food Sector in Response to the Black Swan COVID-19 Pandemic

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