When Complexity Meets Complexity: COVID-19-Induced Supply Chain Disruptions and Strategy Portfolio Efficiency

IF 6.5 2区管理学 Q1 MANAGEMENT Journal of Operations Management Pub Date : 2024-12-29 DOI:10.1002/joom.1347

Hakan Yildiz, Tingting Yan, Marc Hatton, John Fowler, Thomas J. Kull, Lori Sisk

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Abstract

Due to the COVID-19 pandemic, global supply chains have experienced sustained impacts from unprecedented complex disruptions in different combinations and at different times. From an efficiency perspective, do these complex supply chain disruptions call for more complex risk management strategies? To answer this, we built an empirically grounded discrete event simulation model, the results of which were analyzed using data envelopment analysis. Results show that with unprecedented complex disruption patterns, a multi-strategy portfolio approach is usually less efficient than a single-strategy or a do-nothing approach unless the strategy portfolio has certain characteristics. The most efficient strategy portfolios typically consist of a moderate number of diverse strategies. Too many strategies in a portfolio can be problematic, leading to increased costs that outpace improvement in revenue and service level. Results illustrate that even a strategy that generally performs poorly can be part of a very good strategy portfolio and vice versa. This study provides nuanced and novel findings that contribute to the resolution of the literature debate about the value of multi-strategy portfolios in addressing complex disruption patterns. Highlighting the value of a strategy portfolio view, these insights help firms better prepare for the next complex and sustained global supply chain disruptions.

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来源期刊

Journal of Operations Management 管理科学-运筹学与管理科学

CiteScore

11.00

自引率

15.40%

发文量

审稿时长

24 months

期刊介绍： The Journal of Operations Management (JOM) is a leading academic publication dedicated to advancing the field of operations management (OM) through rigorous and original research. The journal's primary audience is the academic community, although it also values contributions that attract the interest of practitioners. However, it does not publish articles that are primarily aimed at practitioners, as academic relevance is a fundamental requirement. JOM focuses on the management aspects of various types of operations, including manufacturing, service, and supply chain operations. The journal's scope is broad, covering both profit-oriented and non-profit organizations. The core criterion for publication is that the research question must be centered around operations management, rather than merely using operations as a context. For instance, a study on charismatic leadership in a manufacturing setting would only be within JOM's scope if it directly relates to the management of operations; the mere setting of the study is not enough. Published papers in JOM are expected to address real-world operational questions and challenges. While not all research must be driven by practical concerns, there must be a credible link to practice that is considered from the outset of the research, not as an afterthought. Authors are cautioned against assuming that academic knowledge can be easily translated into practical applications without proper justification. JOM's articles are abstracted and indexed by several prestigious databases and services, including Engineering Information, Inc.; Executive Sciences Institute; INSPEC; International Abstracts in Operations Research; Cambridge Scientific Abstracts; SciSearch/Science Citation Index; CompuMath Citation Index; Current Contents/Engineering, Computing & Technology; Information Access Company; and Social Sciences Citation Index. This ensures that the journal's research is widely accessible and recognized within the academic and professional communities.