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MGT 520 ASSIGNMENT solution
Shortage of essential medical equipment is the problem which is witnessed after COVID-19 now-a-days. The world has recognised the importance of investing and doing research and development in the field of medicine. This pandemic has not only shook human beings about their mortality but it has also exposed government’s administration.
In response to the above scenario, the governments have become cautious in importing and exporting which badly halted the international trade. The countries are now reluctant in exporting their medical equipments because they are curious about their domestic demand. But due to this if we do micro analysis, a lot patients are being affected by this due to lack of medical equipment and in a bigger picture if we do macro analysis, the international trade is heavily jolted and the this hide and seek of demand and supply has resulted in price hike and created opportunities for black marketing and hoarding. There are several ways to avoid shortage of essential medical equipments by the countries in the short and long run.
The following solutions could be provided in the short run:
• The world leaders should interfere in this for talking to the triads for not stopping the flow of international trade highlighting essential medical equipments.
• WHO should play its role under the umbrella of United Nations to call a special meeting of General Assembly.
• WTO should also play its role in convincing countries to open trade as we have to get on with it.
• The head of the states should talk to other countries politically to instigate and open the hurdles of international trade.
The following solutions could be provided in the long run:
• The countries should try to be more self dependent and try to make these equipments in their own countries.
• The countries can sign MOU’s for non-stop delivering of these items with the countries making these medical equipments.
• The countries can maintain a certain level of inventory as buffer stock to avoid any emergent situation.
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