Disruptions and risk management in supply chains before and during the COVID-19 pandemic

Abstract

PURPOSE: The article presents an analysis of the weaknesses of the current approach used in risk management during the COVID-19 pandemic. Referring to the previous (pre-pandemic) theoretical considerations, an assessment of the activities applied in companies is presented.

DESIGN/METHODOLOGY/APPROACH: The first part of the article presents the theoretical aspects of risk management. The next part is discussing the survey results. The final part presents the effects of the COVID-19 pandemic and the details of changing attitudes towards the sphere of risk management.

FINDINGS: Despite numerous literature studies, problems related to risk management have been marginalized for decades. This is confirmed by, for example, surveys. COVID-19 has forced a radical change in attitude to issues related to risk management.

PRACTICAL IMPLICATIONS: The directions of changes in the area of economic policy at the EU and US level as well as changes in the attitude of managers were indicated.

ORIGINALITY/VALUE: The paper shows the scale, direction and intensity of changes under the influence of the COVID-19 pandemic.