The power of past performance in multidimensional supplier evaluation and supplier selection: Debiasing anchoring bias and its knock-on effects

• Published in: PloS one Vol. 19; no. 5; p. e0303700
• Main Author: Wong, Ricky S.
• Format: Journal Article
• Language: English
• Published: United States Public Library of Science 16.05.2024; Public Library of Science (PLoS)
• Subjects: Bias; Biology and Life Sciences; Component and supplier management; Decision making; Design of experiments; Effectiveness; Experimental design; Factorial design; Hypotheses; Managers; Mapping; Operations management; Order quantity; Performance evaluation; Physical Sciences; Research and Analysis Methods; Small & medium sized enterprises-SME; Social Sciences; Suppliers; Supply chains; Toy industry; Vendor relations

This research examines how anchoring bias affects managers’ multi-dimensional evaluations of supplier performance, supplier selection, and the effectiveness of two debiasing techniques. We consider the supplier past performance in one performance dimension as the anchor and investigate whether and h...