Pandemic turned into pandemonium: the effect on supply chains and the role of accounting information

Ajantha Velayutham · Asheq Razaur Rahman · Anil Kumar Narayan · Michael Wang

51 citations0/0 files storedAccounting Auditing & Accountability Journal

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Supply Chain Resilience and Risk Management Accounting Theory and Financial Reporting COVID-19 Pandemic Impacts

Abstract

Purpose The purpose of this study is to examine the disruptive effects of COVID-19 on supply chains and question the role of accounting information in managing these supply chains in the face of such disruptive effects. Design/methodology/approach The study first explains the effects of COVID-19 on the supply chains of business entities. It then explains the role of accounting information in supply chain management, questions accounting information's ability to play such a role, and makes recommendations for better accounting disclosures and accounting research for supply chains of firms. To illustrate the salient points, a case study of Fisher and Paykel Healthcare is conducted. It identifies the risks and uncertainties of supply chains exposed by COVID-19 disruptions to businesses. Findings COVID-19 has affected Fisher and Paykel Healthcare from both the supply-side (upstream) and demand-side (downstream) perspectives. On the supply side, it has disrupted the supply of raw materials used in the manufacture of respiratory devices and the costs of importing such materials. On the demand side, it has disrupted market logistics and customer demand. This has subsequently affected production. Such disruptions can be overcome through the dissemination of appropriate accounting information for the different stages of the supply chain to the managers. Such accounting information can also be useful to external stakeholders for minimizing their risks. Originality/value The study attempts to create an awareness of the supply chain uncertainties faced by managers and stakeholders arising from exogenous shocks, such as a pandemic, and how these uncertainties can be mitigated by aligning accounting information flows with the supply chain activity flows. The observations made in this paper are at a conceptual level and, therefore, can be applied to any industry.

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References

2006Robust strategies for mitigating supply chain disruptions 2005An Empirical Analysis of the Effect of Supply Chain Disruptions on Long‐Run Stock Price Performance and Equity Risk of the Firm 2003The effect of supply chain glitches on shareholder wealth 2020Global supply-chain effects of COVID-19 control measures 2015Supply chain sustainability: A risk management approach 2020OR-methods for coping with the ripple effect in supply chains during COVID-19 pandemic: Managerial insights and research implications 2020A production recovery plan in manufacturing supply chains for a high-demand item during COVID-19 2011Approaches to managing global sourcing risk

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