  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.
