The multiple facets of the bullwhip effect: refined and re-defined

Purpose – This paper seeks to describe a conceptualisation of the multiple facets of the bullwhip effect between stocking levels within and between value chains and value systems. Design/methodology/approach – The paper provides a conceptual discussion of the bullwhip effect. It is refined and re-defined. Findings – The bullwhip effect has usually been explored between inter-organisational stocking levels. Recently, it has also been explored within intra-organisational stocking levels. A broader descriptive framework is introduced, one that positions the bullwhip effect construct in intra- and inter-organisational, as well as intra- and inter-channel, stocking levels in and between value chains and value systems. Research limitations/implications – A research agenda is provided that goes beyond current definitional boundaries and state-of-the-art research of the bullwhip effect. Practical implications – The refined and re-defined bullwhip effect is of interest to practitioners. It considers inter-organisational and intra-organisational stocking levels. In addition, it considers intra- and inter-channel stocking levels. It is of great concern to achieve best practices in business. Orginality/value – The principal contributions are – a dynamics model of the bullwhip effect construct; a principle of stocking level variability; a typology of stocking level variability; a framework that describes different levels of analysis of the bullwhip effect; and a re-definition of the bullwhip effect construct – within or between value chains and value systems.