Supply Chain Crisis Research Articles

Big data and supply chain crisis financial risk management: A bibliometric review

The presence of a crisis has consistently been an inherent aspect of the Supply Chain, mostly as a result of the substantial number of stakeholders involved and the intricate dynamics of their relationships. The objective of this study is to assess the potential of Big Data as a tool for planning risk management in Supply Chain crises. Specifically, it focuses on using computational analysis and modeling to quantitatively analyze financial risks. The “Web of Science—Elsevier” database was employed to fulfill the aims of this work by identifying relevant papers for the investigation. The data were inputted into VOS viewer, a software application used to construct and visualize bibliometric networks for subsequent research. Data processing indicates a significant rise in the quantity of publications and citations related to the topic over the past five years. Moreover, the study encompasses a wide variety of crisis types, with the COVID-19 pandemic being the most significant. Nevertheless, the cooperation among institutions is evidently limited. This has limited the theoretical progress of the field and may have contributed to the ambiguity in understanding the research issue.

Country-level dynamic capabilities and inward FDI: a framework on future policy adaptations applied to post-Brexit UK

The purpose of this paper is to establish a policy framework for those responsible for maximising the opportunities of inward foreign direct investment (FDI). Our proposed framework intellectualises the need for dynamic capabilities at the country level (national and local) to sense and seize new opportunities from inward FDI, use this knowledge to mobilise resources and, over time, make changes to reconfigure the UK’s location-specific advantages in a post-Brexit marketplace. Using the backdrop of the UK’s decision to exit the European Union in May 2016 (Brexit) alongside other global challenges (the COVID-19-induced supply chain crisis, political unrest, wars, new trade deals), we explore the changing nature of FDI entering the UK. We explain why an adaptive investment promotion strategy means greater and more widespread benefits of inward FDI for the economy. Then, we propose a policy-oriented dynamic framework for how the benefits of FDI can be maximised during political upheaval. In our analysis and discussion, we highlight how changes in foreign firms’ FDI motives can alter the UK’s value proposition, and over time, the nature of a country’s specific advantages.

Supply chain management in times of crisis: a multi-case study

Relying on an inductive multi-case logic, this study analyses public discourse involving four supply chain crises in Europe: (i) NotPetya Cyberattack on A.P. Møller-Maersk of 2017, (ii) the Evonik industrial accident of 2012, (iii) Cadbury’s Salmonella Scare of 2006 and (iv) Horsemeat Scandal of 2013. Grounded on contingency theory, the research finds three main operational vulnerabilities (an MSN of threats) surrounding the investigated cases: Market pressures, Sector dependencies and Network liabilities. The study also identifies four themes of crisis mitigation (4IR measures): (i) intelligence review for reassessments, (ii) integrated relationships for response, (iii) innovation resilience for recovery and (iv) integrity rebuilding for reassurance. Driving these mitigation measures is a customer-first mindset and close customer discussions that strive to restore normalcy, recover operations, and regulate networks. This research is original in its focus on a ‘supply chain crisis’ paradigm and adds to discourse on competitive and/or restorative capabilities for supply chain management (SCM) in times of crisis. Theoretically, the research advances a ‘coactive’ SCM strategy for improved SCM performance in times of crisis, and managerially, the value of the research lies in insights on ‘best practice’ for supply chain crisis management and decisiveness for confront and contain supply chain crises.

Core-technology competence in perspective of supplier concentration: the mechanism of strategic aggressiveness and the influence of environmental uncertainty

ABSTRACT This study highlights the necessity of drawing more attention to core-technology competence, a specific dimension of firm innovation competence, when examining the overall supplier concentration-innovation relationship to respond to the unprecedented challenges in the supply chain and technological advancement. Still, the mechanism of strategic aggressiveness and the conditioning role of environmental uncertainty are not well explored in this concern. Therefore, it is necessary to combine these factors to analyse. Using the data from Chinese manufacturing firms from 2012 to 2020 and based on resource dependence theory, we construct a panel data model to conduct empirical analysis and obtain the following results: supplier concentration can hinder firms’ core-technology competence; supplier concentration would constrain firms’ strategic aggressiveness, subsequently impairing core-technology competence; while supplier concentration can limit strategic aggressiveness, high environmental uncertainty can mitigate these negative effects. The findings are beneficial for firms to cope with current challenges and enhance core-technology competence based on the global supply chain crisis and environmental uncertainty.

Climate change uncertainty and supply chain financing

We examine the impact of climate change uncertainty on supply chain financing. We find that firms significantly curtail trade credit provision during periods of high climate change uncertainty. The cross-sectional variations of this effect with firm-specific factors such as vulnerability to climate change, asset redeployability, and pollution severity suggest that it is primarily driven by managerial anticipation of physical damage cost rather than regulatory cost that the uncertainty could incur. The moderation of this effect by exogenous regulatory interventions such as state-level staggered adoption of the Climate Change Adaptation Plans and the Interstate Banking and Branching Efficiency Act suggests that managerial concerns of such cost can be alleviated through the improvement of climate change preparation and external financing respectively. Overall, our study reveals that climate change undermines the financial resilience of the supply chain and provides timely policy implications for tackling climate change against the backdrop of the global supply chain crisis.

Digital procurement practices in SMES: comparative cases of advanced and emerging economies

About 99 percent of American firms are small and medium-sized enterprises (SMEs) and more than 88 percent of people are employed in SMEs. However, most SMEs are not using supplier interactions in digital platforms which is a flexible IT infrastructure (software, hardware, and network) and a well-developed information management capability. Organizations can use digital procurement platforms to foster managerial improvisation and can leverage, depending on the type of unexpected event. If we look at the emerging economy, the percentage of SMEs of total business is almost the same as advanced economies, but their digitalization is much less than the advanced economy. It is obvious that digital procurement is now one of the most significant prerequisites to tackle the supply chain crisis that leads to gaining competitive advantages in the financial and non-financial perspective of a business. It is also true that lacking the proper understanding of digital transformation and organizational capabilities, many small and medium enterprises are facing enormous hardships to sustain. This study aims to examine the challenges and opportunities of SMEs with digital procurement. Based on the literature review, we present a research model of digital transformation which defines key variables. We also use case study instruments to target SMEs in different sectors in advanced (USA) and emerging economies (Bangladesh) for empirical investigation.

NewGen Surgical: reimagining health for people and planet

Research methodology The case study draws on structured interviews with Rob Chase, Founder and CEO of NewGen Surgical, as well as secondary data sources to analyze the effectiveness of these solutions in mitigating the risks and enhancing the company’s competitive advantage. Case overview/synopsis This case study examines how NewGen Surgical, a small- to medium-sized medical equipment manufacturer based in the USA, navigates a supply chain crisis caused by post-pandemic (COVID-19) supply and demand distress, trade restrictions, and the US–China trade war in 2022. It outlines the journey of CEO and Founder, Robert Chase, as he started, grew and is maintaining the company and its various challenges. The case study reviews the risks and vulnerabilities of the company, which heavily relies on Chinese suppliers for most of its operations. To address the supply chain challenges, the case study explores alternative solutions such as insourcing, reshoring, diversifying the supplier base, changing safety stock and implementing new technologies. The case can be designed to teach business courses such as global business, supply chain and entrepreneurship. Complexity academic level This case study is intended for undergraduate and graduate students in courses such as global business, supply chain and entrepreneurship. In addition, this case study may be incorporated with modules on learning organizations, knowledge management and entrepreneurship to aid students in comprehending the principles of global sourcing, offshoring and supply chain management.

Cross-disciplinary AI supply chain risk assessment

While AI remains chip based and part of both commercial and national strategic superiority goals, it is useful to examine the security and risks associated with achieving those goals. The future strategy rests perilously on an unstable inverted triangle of financial and economic reality. This paper presents the AI chip supply chain as an inverted triangle which base/apex is dependent on a global single supplier with the capability of producing equipment essential for their manufacture. It highlights the dependence on a single company for the fabrication of those chips, and the security risks associated with that supplier being Taiwanese in limited foreign ownership. It is suggested that the increasing tensions between China and the USA have resulted, in part, from this dependence, which was demonstrated by the supply chain crisis resulting from Covid-19. The attempt to reduce this dependence led to the CHIPS and Science Act 2022, signed into law by President Biden. In part of the inverted triangle are found Big Tech and the major Cloud Service Providers. They vary between 60% - 80% of their market capital being in financial institutional ownership, most of which is held by a very limited number of institutions, not all of whom are publicly quoted. To doubt the influence wielded by those financial institutions, just a single institution with major Big Tech and Cloud holdings has, at 31 December 2022, USD 8.59 trillion of assets under management. This represents economic power and places it between the equivalent Gross Domestic Product of China (USD 19.37 trillion) and Japan (USD 4.41 trillion) the second and third entries behind the USA in the GDP rankings. Financial institutions are market driven to achieve growth, contribute to economic stability, and are to an extent regulated by unelected vested interests and organisations. The battlefield for national supremacy of AI may concern chips, until the arrival of quantum AI. Current Chinese economic woes are providing the momentum for pre-emptive strikes at the semiconductor industry, and an inverted triangle is neither a secure nor stable structure for a supply chain.

Impact of the 2022 national formula shortage on clinical decision-making of healthcare providers in switching amino acid formulas for infants with cow's milk protein allergy: a survey-based study.

In 2022, the United States experienced a national shortage of infant formula due to a global supply chain crisis and a large-scale domestic formula recall. The existing literature on healthcare providers' (HCPs) clinical decision-making during formula shortages is limited. This study aims to analyze the factors influencing pediatric HCP clinical decision-making when switching between amino acid formulas (AAF) for managing cow's milk protein allergy (CMPA) in infants under 24 months of age during an unprecedented national formula shortage. The study included pediatric HCPs with experience managing CMPA in infants and toddlers under 24 months during the formula shortage from January 2022 to November 2022. A de-identified survey comprising 26 questions examining driving factors used in clinical decision-making was administered to pediatric HCPs using a real-time mobile data collection tool. Among the surveyed pediatric HCPs (n = 75), the factors most frequently considered as "extremely important" when switching to another AAF included safety (85%), tolerability (73%), and efficacy (83%). No statistically significant differences were found in HCP ratings among the listed examined factors of the four AAFs. The availability of specific formulas was the only factor that exhibited a statistically significant difference in perceived performance among pediatric HCPs when comparing the four AAFs (p < 0.05). This study elucidates the crucial aspects that influenced pediatric HCPs' selection of AAFs for CMPA management during the 2022 formula shortage. The findings highlight the significance of safety, tolerability, efficacy, and availability in the pediatric HCP decision-making processes.

VIABILITY OF CARDBOARD SPLINTS IN THE EMERGENCY MANAGEMENT OF LOWER LIMB FRACTURES

At Mbarara Regional Referral Hospital Uganda, 60% of all admissions are due to severe trauma, 30-35% of which are from tibia/fibular fractures. Emergency splinting of these fractures can be lifesaving and ideally, Plaster of Paris (P.O.P) is the gold standard. Improvised cardboard splints have replaced P.O.P, since they were more readily available and thought to be less expensive to apply especially during the covid 19 pandemic supply chain crisis. While anecdotal evidence exists dating since the First World War, scarce published works exist in measuring the clinical effectiveness of cardboard splints in comparison to P.O.P. The aim of this study was to find out if cardboard can be an effective and cheaper emergency alternative splint to P.O.P especially during the supply chain crises frequent in low resource environments. A prospective, experimental, cadaveric study was done where 44 open tibia-fibular fractures were splinted with both cardboard and P.O.P. The clinical effectiveness of cardboard and P.O.P splints was found through the measurement of immobilization at a fracture site via the use of 5 angular and 9 linear measurements. Cost comparisons of the splint were also done. Cardboard proved to be the non-inferior splint in 9 of the 14 measures of effectiveness. In the other 4 measures, no statistically significant differences were seen, while P.O.P was superior in 1 measurement. Cardboard proved to be the least expensive splint. During extreme shortages, cardboard could be considered as an emergency material for adequate splinting of lower limb fractures.

Elevating the Practical Application of Sodium-Ion Batteries through Advanced Characterization Studies on Cathodes

Sodium-ion batteries (SIBs) have emerged as promising alternatives to their lithium-ion counterparts due to the abundance of sodium resources and their potential for cost-effective energy storage solutions. The chemistry for SIBs has been investigated since the 1980s, but it went through a slow research and development process. Recently, there has been an acceleration in technology maturation due to a supply chain crisis originating from unequal resource distribution and sustainability and safety concerns regarding lithium-ion batteries. However, the practical application of SIBs has been hindered primarily by challenges related to cathode materials, specifically, surface and structural stabilities in different conditions. Through the integration of advanced techniques such as in situ spectroscopy, operando diffraction, and high-resolution microscopy, a comprehensive understanding of the cathode’s dynamic behavior and degradation mechanisms can be achieved. The identified structural modifications, phase transitions, and degradation pathways offer critical insights into the design of robust cathode materials with prolonged cycling stability, fast charging capability, high energy density, great low-temperature performance, and safety. This review underscores the pivotal role of cutting-edge characterization techniques in guiding the development of high-performance sodium-ion batteries, thereby fostering the realization of sustainable and efficient energy storage solutions for diverse technological applications.

BIT·FTA상 외국인투자심사 실행에 관한 연구

Countries with foreign investment screening mechanism have developed practices to avoid international investment disputes. These practices include using security exceptions, exceptions to dispute settlement provisions, and schedules to Annex regarding non-conforming measures in investment agreements. These practices do not specify specific national security requirements and are subject to full self-judgment. Countries with a long history of foreign investment screening, such as the United States, Canada, and Australia, actively use these practices to exclude foreign investment screening from international agreement obligations. These countries interpret the national security exception jurisprudence as applying to foreign investment screening, meaning that foreign investment screening is entirely self-judged.&#x0D; However, South Korea does not have a consistent approach to foreign investment screening in its Bilateral Investment Treaties (BITs) and Free Trade Agreements (FTAs). The security exception clause in these agreements is different in each agreement, and the contents of the reservations are not uniform. However, it can be interpreted that Korea has decided to treat foreign investment screening as an exception to international law, since it joined the Regional Comprehensive Economic Partnership (RCEP), which stipulates that the screening regime shall not be subject to the dispute settlement provisions.&#x0D; Foreign investment screening is likely to become more important as a policy tool in the era of expanding national security. The concept of national security has evolved from being applied only in exceptional emergencies such as war to encompassing more permanent situations such as economic security, high-tech protection, supply chain crisis response, and climate change. State measures to protect national security have also become more permanent. Given these circumstances, it is important to reconsider whether it is appropriate to treat foreign investment screening as an exception to international law. Allowing foreign investment screening as an exception to international law could lead to a crisis in the international legal system due to potential abuse of this exception. However, from the government's perspective, securing policy space for foreign investment screening can be advantageous in effectively addressing the growing threat to national security. Therefore, it is crucial to contemplate the stance and standards that should be established for the foreign investment screening practice in Korea moving forward.

Causes of Paints and Coatings Raw Materials Supply Chain Crisis and its Impact on Businesses

The paints, coatings, and surface technologies industry's global supply chains have grappled with severe shortages and significant disruptions. This research investigates the underlying causes behind this failure, which results from a complex interplay of interconnected events with a cascading impact. Logistical challenges, plant accidents, environmental regulations, Brexit, the COVID-19 pandemic, and a surge in demand, have led to undesirable outcomes and highlighted management challenges. Adopting a pragmatic approach, the study identified practical solutions managers and procurement teams could adopt. Utilizing an inductive methodology, the research focused on the root causes of the crisis, emphasizing that understanding the origin is essential for effective management. To validate the proposed strategies, a survey among industry practitioners was conducted. Relevant case studies of market leaders were examined focusing on the inbound logistics and procurement perspective, highlighting the critical role of strategic procurement and supply chain risk management for company competitiveness and survival in challenging circumstances. At the organizational level, the research identifies a gap in understanding the compatibility of lean principles in supply chain management with the realities of globalised supply chains.

Idyllwild during Supply Chain Crisis, and: Love It or Leave It: Stamp Acts 257 Years Later to Protect Democracies?, and: Outside Dollar Store Shame on Us

Idyllwild during Supply Chain Crisis, and: Love It or Leave It: Stamp Acts 257 Years Later to Protect Democracies?, and: Outside Dollar Store Shame on Us

The Role of Information Management in Strategic Operational Decisions for Corporate Crisis Prevention

The purpose of this thesis is to explore the role of information management in strategic operational decision-making for corporate crisis prevention. Information management has an important role in the strategic decision-making of enterprises, and it can help enterprises to obtain, analyze and utilize key information, provide accurate data and intelligence support, and thus effectively prevent potential crises. The purpose of this paper is to explore the role of information management in strategic operational decision-making for corporate crisis prevention and to reveal the specific application and effectiveness of information management in crisis prevention through case studies and theoretical research. Taking the prevention and response to supply chain crisis and the prevention and recovery of brand crisis as case studies, this paper analyzes in detail the specific applications and effects of information management in crisis prevention. In the section on the study of strategic operation optimization decision analysis models, we discuss the design and application of strategic operation optimization decision analysis models and the importance of strategic decision analysis in comprehensive operation sandbox simulation of enterprises. These models and methods can help enterprises to better optimize their decisions and improve the effectiveness of crisis prevention and response.

Food security strategy to enhance food self-sufficiency and overcome international food supply chain crisis: the state of Qatar as a case study

The food security challenge continues to be one of the main issues that currently face the world despite improved economic development in many countries. The challenge is particularly unique in one of the world’s arid regions, the Gulf Cooperation Council (GCC). This paper analyses the food security strategies of Qatar (one of the six countries that make up the GCC), especially since 2017 when the blockade of the country by its neighbors began. Qatar’s current food sufficiency was made possible by the country’s swift and profound changes in its food production strategies to ensure food security for its population. In order to provide locally sourced foods to the population, private and public initiatives were activated to support small farmers to distribute and supply their farm produce to local markets. The results show that Qatar has shifted from importing some food commodities to locally producing a high proportion of its foods to the extent of becoming an exporter of some farm produce. However, this increase in the local food production was achieved at the cost of depleting the local groundwater at a rate higher than the natural recharge. This paper thus critically assesses the specific situation of food security in Qatar that could be used as an example for other countries aiming to strengthen their food security, especially during transnational crises when international food supply chains suffer from unavoidable disruption (e.g., COVID-19 crisis).

How resistant is gold to stress? New evidence from global supply chain

The investigation performs the wavelet method to explore the time-dependant correlation between gold price (GP) and global supply chain pressure (GSCP). The conclusion shows that GSCP positively leads GP in the long, medium and short runs, meaning that the strains of the global supply chain can motivate the gold market, and gold has the ability to resist these stresses. Conversely, GP positively leads GSCP in the medium and short terms, suggesting that the gold market can be considered as a forward-looking index to reflect GSCP. Then, we could discover that gold may play a dual role in hedging and predicting global supply chain risks in the medium and short terms while only showing hedging ability in the long term. By comparing the gold prices in different denominations, we can not only evidence the robustness of this investigation but also conclude that dollar-and Renminbi-denominated gold is better than euro-and pound-denominated gold in hedging ability but worse in perspective capacity, while Yen-denominated gold exhibits the weakest interrelation with GSCP. In the context of the Russian-Ukrainian war and serious global supply chain crisis, these outcomes can give meaningful lesson to the public, enterprise and relevant countries.

Analysis of weighted network centrality for cold chain commodities in international air cargo under the COVID-19 pandemic

Air Cargo plays a key role under the global supply chain crisis brought about by COVID-19 pandemic. This study aims to analyze empirically the transport patterns and correlations of key commodities of cold chain in air cargo. We analyzed air cargo O-D data by weight for key commodities including pharmaceutical and coolchain products for top 100 airports in the last 10 years. We analyzed weighted centralities for key cold chain commodities traffic using social network analysis methodology. Whereas previous studies focused on unweighted centrality metrics, this study covered weighted centrality metrics, which represent more accurate empirical situation. The international air cargo networks for cold chain are significantly improved after COVID-19. Comparative analysis of cold chain traffic trends for top 10 international air cargo airports was also performed. The role of top 10 airports in the performance of air cargo transportation was found to be more important, especially in COVID-19 period.

Impact of Global Supply Chain Crisis on Chinese Forest Product Enterprises: Trade Trends and Literature Review

The global supply chain crisis caused by COVID-19 and the trend of “anti-globalization” continuously impact international trade. As one of the central processing centers of global primary products, China’s forest product enterprises import raw materials and export manufactured products, which are vulnerable to the worldwide supply chain crisis. This article reviews research on the influence of the pandemic and the Sino–US trade war on the international trade of wooden products and China’s forestry enterprises that import raw timber materials and export wooden products. Furthermore, with the analysis of trade data, we found that China’s forest product enterprises are facing a shortage of wood materials and rising import prices. Regarding export, they face the problems of increased trade costs and fluctuating product demand. Moreover, the influence of the global supply chain crisis causes China’s trade diversion effect. This article comprehensively analyzes how the global supply chain crisis affects wood-based product enterprises and offers suggestions for further developing China’s forestry enterprises.

에너지 안보 확립을 위한 에너지 법제에 관한 연구

Due to Russia's invasion of Ukraine, the global economy is experiencing inflation that has not been experienced since the 1970s. Prior to the Russo-Russian War, Europe imported coal, oil, and natural gas from Russia, including about 30% of oil, 43% of natural gas, and 54% of coal. Since the Kyoto Protocol and the Copenhagen Agreement, the EU has focused on realizing “carbon neutrality” to cope with climate change as the main direction of energy policy. Germany has implemented a coal policy in the power generation sector by 2030 to realize nuclear power plants by shutting down all existing nuclear facilities by 2022 and reducing contaminated fossil fuels, and increased the proportion of natural gas with less carbon dioxide than other fossil fuels. Meanwhile, the electricity production rate through renewable energy sources has been increased to about 40%. Until the Russia-Ukraine crisis, Europe, including Germany, implemented these energy policies, but did not recognize relying on Russian energy as a major risk to Europe's energy security. However, in the wake of the Russo-Russian War, the direction of energy policy that has been pursued is rapidly changing, along with raising fundamental and serious questions about the direction of energy policy in Europe. Next, we will look at what “energy security” should not be overlooked in energy legislation, and the recent changes in Europe's energy policy direction based on energy security, and then look at the direction our energy legislation should take from the perspective of energy security. In order to ensure energy supply stability, it is necessary to have a balanced energy mix, secure various suppliers, and utilize stockpiles well. In addition, since it is difficult to recognize the importance of energy supply stability during peacetime, it is important to establish a management system for supply stability and prevent risks. Therefore, in this paper, we tried to think about how our energy legislation should be improved to ensure energy security. First, it is necessary to give the status of the basic law to the Energy Act, which defines the concept of “energy security,” and to regulate energy security in a balanced manner. Currently, the Framework Act on Carbon Neutrality has the status of a basic law among energy-related laws, because it regulates only sustainability and stability among the concepts of “energy security” and does not regulate energy supply stability at all. Second, it is necessary to establish the relationship between the 「Special Act on National Resources Security」 and the 「Energy Act」. It is necessary to establish a relationship because the functions and roles of the Resource Security Committee of the Ministry of Trade, Industry and Energy and the Energy Committee of the Ministry of Trade, and Energy stipulated in Article 6 of the Special Act on National Resource Security. It may also be possible to consider the direction of integrating roles by establishing a (tentative) Resource and Energy Committee. Third, it is necessary to establish the relationship between the 「Framework Act on Supporting Supply Chain Stabilization for Economic Security」 and the 「Special Act on National Resource Security」. The two bills are laws made to prevent supply chain crises and have similar legal systems and functions. However, the 「Framework Act on Supporting Supply Chain Stabilization for Economic Security」 presents basic principles and systems in supply chain-related laws by governing the country's overall supply chain management system, so it is reasonable to have the Prime Minister as the general manager. We hope that the legislation that guarantees energy security and resource security will be well maintained to overcome the global supply chain crisis.