Behavioral supply management: a taxonomy of judgment and decision‐making biases

Purpose – The purpose of this paper is to review and integrate the extensive literature base which examines judgment and decision‐making biases, to introduce this literature to the field of supply management, to create a valid, mutually exclusive, and exhaustive taxonomy of decision biases that can affect supply managers, and to provide guidance for future research and applications of this taxonomy.Design/methodology/approach – The authors use a qualitative cluster analysis, combined with a Q‐sort methodology, to develop a taxonomy of decision biases.Findings – A mutually exclusive, and exhaustive taxonomy of nine decision biases is developed through a qualitative cluster analysis. The Q‐sort methodology provides initial confirmation of the reliability and validity of the cluster analysis results. The findings, along with numerous examples provided in the text, suggest that supply management decisions are vulnerable to the described biases.Originality/value – This paper provides a comprehensive review of ...