Date of Award

6-1-2023

Publication Type

Thesis

Degree Name

M.A.Sc.

Department

Industrial and Manufacturing Systems Engineering

Keywords

Cost Benefit Analysis;Covid 19;Manufacturing Business;Ontario;PPE;Revenue Volatility

Supervisor

Beth Anne Schuelke Leech

Rights

info:eu-repo/semantics/openAccess

Creative Commons License

Creative Commons Attribution 4.0 International License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

For the past three years, we have witnessed the effects that a disruptive event like COVID-19 can have on the industrial sector as well as the effects that have so far been felt throughout the world's supply chain. When the pandemic first began, sales of PPE products increased, which led to a shortage of PPE products in Canada due to supply chain disruptions and limited PPE product production in Canada. So, the Canadian government began importing PPE goods. This incident highlights the need for local production in Canada as many people were unable to afford PPE in time. Due to this, some manufacturing units started manufacturing PPE products to tackle the PPE demand crisis. Numerous studies have been conducted on the economic effects of COVID-19, but little research has been done on the evaluation of industrial firms that changed their product lines or added PPE during COVID-19. The goal of the thesis is to evaluate the economic effects of COVID-19 on manufacturing businesses in Ontario by using a cost-benefit analysis and regression to see whether switching or adding PPE items in addition to their current portfolio would be beneficial. These analyses have been implemented to 111 companies in Ontario. This research assumes that manufacturers' decisions will be based on the net present value of the total benefits of material replacement. The results indicated that adding PPE during the time of the crisis wasn’t beneficial to the companies as adding PPE to the company increased the company’s volatility though its possible, but it is unlikely that adopting PPE increased their revenue volatility as companies did so to reduce the risk of revenue decline. The suggested model's novelty comes in its economic analysis of COVID-19's effects on manufacturers, which considers a variety of personal protective equipment and individual cost-benefit analyses of Ontario companies.

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