期刊
PRODUCTION AND OPERATIONS MANAGEMENT
卷 32, 期 6, 页码 1705-1723出版社
WILEY
DOI: 10.1111/poms.13935
关键词
catastrophic event; disruption; flexibility; inventory; risk management; resilience
This study examines inventory and flexibility patterns in manufacturing firms in the years following the Great East Japan Earthquake of 2011, a low-probability, high-consequence (lp-hc) disruption event. The findings suggest that most firms increased their raw material inventories over the longer term and increased their volume flexibility for a shorter period after the event. Firms that were risk-averse before the event showed stronger swings in their responses.
How do firms respond after being exposed to a low-probability, high-consequence (lp-hc) disruption event? This study examines inventory and flexibility patterns in manufacturing firms in the years following an lp-hc event, the Great East Japan Earthquake of 2011. We find patterns suggesting that most firms exposed to the event began to increase their raw material inventories (RAW) over the longer term and increased their volume flexibility for a shorter period. Furthermore, we found that firms increased their RAW mainly when inventories were already at high levels, while the opposite is true for volume flexibility. Firms that were classified as risk-averse before the event show stronger swings after the event. Preliminary explorations suggest that the performance of firms that have engaged in these inventory shifts is significantly impeded. This study provides insight into a previously unexplored phenomenon, namely, the longer-term responses of firms to exposure to lp-hc events. It opens the possibilities of new research regarding causality, economic consequences, and mechanisms of the identified patterns. Increased efforts in this direction should enable our discipline to provide improved normative guidance both socially and operationally.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据