The programming committee for the 78th Annual SAM International Business Conference is pleased to announce the acceptance of the presentation Supply Chain Scarcity, Panic Buying Behavior, and the Effects and Influence of Media by Andrew McNeal of Bloomsburg University.
Presentation Abstract: Supply chains use various forecasts to predict consumer behaviors and demand patterns. No singular forecast can predict all outcomes, but multiple predictions can better predict a realistic outcome. Behavior changes in times of crisis can offset forecasted demand of supply chain operations. The influence of incorrect information presented through a media channel can guide consumer perception and cause greater degrees of behavior change. Typically, this generates increased or decreased demand for specific products or categories of products. In turn, this creates larger boom bust cycles for supply chains known as the bullwhip effect.
In order to curb the severity of behavior change, ethic and procedural standards should be implemented in media companies and platforms. This will improve creditability of the media company and reduce the amount of incorrect information being presented. This will allow for supply chain operations to adapt forecasts and prevent shortages and stockouts to a greater degree. It will also mitigate the peaks and troughs of the bullwhip effect to better maintain stability across a supply chain.
Join us online to see this great paper and many more March 13 – March 18, 2023. For registration information visit www.samnational.org/conference.