Premium
The Impact of Tacit Knowledge on Purchasing Decisions
Author(s) -
Giunipero Larry,
Dawley David,
Anthony William P.
Publication year - 1999
Publication title -
journal of supply chain management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 3.75
H-Index - 92
eISSN - 1745-493X
pISSN - 1523-2409
DOI - 10.1111/j.1745-493x.1999.tb00055.x
Subject(s) - tacit knowledge , purchasing , business , marketing , knowledge management , computer science
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.