Operational and behavioral causes of supply chain instability

Abstract

Supply chain instability is a pervasive and enduring characteristic of market economies. Production, inventories, employment, revenue, profit and a host of other indicators fluctuate, irregularly but persistently, throughout the economy, in industries from A to Z—Aircraft to Zinc (e.g., W. Mitchell 1971, Zarnowitz 1985, Sterman 2000). Supply chain instability harms firms, consumers, and the economy through excessive inventories, poor customer service, and unnecessary capital investment. Instability in employment erodes skill and worsens labor-

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