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Supply chain effects and mitigation from hoarding and panic buying

Simonian, Eleonora
(2021)

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SIMONIAN_24211400_2021.pdf
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Details

Supervisors
Agrell, Per Joakim
Faculty
Louvain School of Management
Degree label
Master [120] : ingénieur de gestion, à finalité spécialisée
Abstract
Both natural and man-made disasters are expected to increase in frequency and intensity all around the world in the following years, devastating life, livelihood and economy of the affected communities. Consequently, with the intersection of hazard and people's vulnerability, consumers' purchasing behavior changes due to the fear of the unknown, the social influence and the perceived scarcity, leading them to panic buying. Hence, the importance of planning for disaster response activities and preparedness to minimize the economic and human loss is undeniable. This research analyses the factors leading to panic buying and categorises them into personal, social, psychological, individual and situational factors. Also, a study of the consumers' purchasing behavior is made based on a questionnaire survey. Then, a supply chain optimisation model is suggested to help retailers and suppliers to manage emergencies. Eventually, managerial recommendations are provided to retailers, suppliers, political authorities and consumers.