The Impact of Tacit Knowledge on Purchasing Decisions

The Impact of Tacit Knowledge on Purchasing Decisions SUMMARY This research examines the use of tacit knowledge in making purchasing decisions. A model is developed which combines the use of both formal data and tacit knowledge in the decision‐making process. A survey of 97 purchasing managers revealed that almost equal amounts of formal data and tacit knowledge were used in making buying decisions. The use of both types of information in decision making appears to be related to the concept of bounded rationality. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Supply Chain Management Wiley

The Impact of Tacit Knowledge on Purchasing Decisions

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Publisher
Wiley
Copyright
Copyright © 1999 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1523-2409
eISSN
1745-493X
DOI
10.1111/j.1745-493X.1999.tb00055.x
Publisher site
See Article on Publisher Site

Abstract

SUMMARY This research examines the use of tacit knowledge in making purchasing decisions. A model is developed which combines the use of both formal data and tacit knowledge in the decision‐making process. A survey of 97 purchasing managers revealed that almost equal amounts of formal data and tacit knowledge were used in making buying decisions. The use of both types of information in decision making appears to be related to the concept of bounded rationality.

Journal

Journal of Supply Chain ManagementWiley

Published: Dec 1, 1999

References

  • Strategic Decision Models Integrating Different Perspectives
    Hitt, Hitt; Tyler, Tyler

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