Pandemic risk management: resources contingency planning and allocation
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Publication:2665864
Abstract: Repeated history of pandemics, such as SARS, H1N1, Ebola, Zika, and COVID-19, has shown that pandemic risk is inevitable. Extraordinary shortages of medical resources have been observed in many parts of the world. Some attributing factors include the lack of sufficient stockpiles and the lack of coordinated efforts to deploy existing resources to the location of greatest needs. The paper investigates contingency planning and resources allocation from a risk management perspective, as opposed to the prevailing supply chain perspective. The key idea is that the competition of limited critical resources is not only present in different geographical locations but also at different stages of a pandemic. This paper draws on an analogy between risk aggregation and capital allocation in finance and pandemic resources planning and allocation for healthcare systems. The main contribution is to introduce new strategies for optimal stockpiling and allocation balancing spatio-temporal competitions of medical supply and demand.
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Cited in
(9)- Government regulations to mitigate the shortage of life-saving goods in the face of a pandemic
- Optimization and operations research in mitigation of a pandemic
- Health resource allocation method at cordon sanitaire for pandemic control and prevention
- Optimal capital allocation for individual risk model using a mean-variance principle
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