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Supporting purchasing professionals with an AI simulation tool in decision making

Imer, Dilara (2019) Supporting purchasing professionals with an AI simulation tool in decision making.

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Abstract:The existing literature and ongoing debate about bounded rationality argues that self-interest, power and politics influence the decision maker. The purpose of this study is to build and propose a simulation model that helps decision makers in the purchasing & supply management field to cope with bounded rationality in taking the most advantageous sourcing decision regarding the Brexit. This study is designed to take interviews with two purchasing professionals to assess the degree to which bounded rationality is relevant and to identify variables to include in the model. The findings of the interview show that uncertainty about the type of Brexit and the contextual factors of an organization make decision making complex. The proposed model has therefore included uncertainty and major contextual factors. Finally, the model takes away bounded rationality of a decision maker, to a certain degree.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics, 85 business administration, organizational science, 88 social and public administration, 89 political science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/78594
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