From Panic to Dispassionate Rationality-Organizational Responses in Procurement After the Initial COVID-19 Pandemic Peak

Lockdowns and social distancing from the COVID-19 crisis took many by surprise. Panic grew about the implications. Supply chains became center stage. We consider decision-making in large multinational companies and whether COVID-19 responses focused on crisis management or a strategic, rational deci...

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Bibliographic Details
Published in:IEEE engineering management review 2021-06, Vol.49 (2), p.45-56
Main Authors: Dewick, Paul, Hofstetter, Joerg S., Schroeder, Patrick
Format: Article
Language:English
Subjects:
Companies
Coronaviruses
COVID-19
crisis management
Decision making
Disease control
globalization
Interviews
Multinational corporations
Pandemics
Procurement
supply chain management
Supply chains
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Summary:Lockdowns and social distancing from the COVID-19 crisis took many by surprise. Panic grew about the implications. Supply chains became center stage. We consider decision-making in large multinational companies and whether COVID-19 responses focused on crisis management or a strategic, rational decision-making approach. Chief procurement officers from 22 multinational companies responsible for supply, production, or distribution in front-line industrial sectors affected by COVID-19 informed this article. We propose a reconceptualization of supply chain management with a framework of crisis severity and progression. The framework helps decision-makers balance conservative status quo responses with innovative responses that may be game changers.
ISSN:0360-8581
1937-4178
DOI:10.1109/EMR.2021.3079630