Strategic Sourcing Under Severe Disruption Risk : Learning Failures and Under-Diversification Bias | PERPUSTAKAAN UNIVERSITAS KATOLIK PARAHYANGAN

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Strategic Sourcing Under Severe Disruption Risk : Learning Failures and Under-Diversification Bias

Goldschmidt, Kyle - Nama Orang; Kremer, Mirko - Nama Orang; Thomas, Douglas J. - Nama Orang; Craighead, Christopher W. - Nama Orang;

Problem definition: We study sourcing behavior in severe conditions where supply disruptions are rare but carry the potential of wiping out several rounds worth of a firm’s profit. Academic/practical relevance: The tradeoff between scale economies from supplier consolidation and risk mitigation from supplier diversification is at the core of firms’ sourcing strategy and one that is empirically understudied. Methodology: We study supplier diversification through a behavioral lens and test theoretically derived predictions under controlled laboratory conditions. Results: Our data provide strong evidence for under-diversification. We posit that this pattern is partly because of the fact that investing in supplier diversification involves an upfront cost to achieve a delayed, and rarely encountered, benefit. Managerial implications: Under-diversification bias is costly, and its causes are difficult to overcome, presenting firms with the daunting task of devising debiasing mechanisms that reinforce a supplier diversification strategy when the rarity of disruptions almost always render supplier consolidation the ex post preferred strategy.

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Informasi Detail

Judul Seri: MANUFACTURING & SERVICE OPERATIONS MANAGEMENT; Vol.23 No.4 July-August 2021
No. Panggil: -
Penerbit: : .,
Deskripsi Fisik: p. 761 - 780
Bahasa: English
ISBN/ISSN: -
Klasifikasi: -
Tipe Isi: -
Tipe Media: -
Tipe Pembawa: -
Edisi: -
Subjek: PROCUREMENT
SUPPLY CHAIN DISRUPTIONS
SUPPLY CHAIN RISK MANAGEMENT
BEHAVIORAL EXPERIMENT
Info Detail Spesifik: https://doi.org/10.1287/msom.2020.0907
Pernyataan Tanggungjawab: Kyle Goldschmidt, Mirko Kremer, Douglas J. Thomas, Christopher W. Craighead

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