Heuristics In Action: When Experience Meets Decision-Making Chain Reaction podcast

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Heuristics in Action: When Experience Meets Decision-Making

2d ago 21:37

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Ever relied on a mental shortcut only to stumble because it wasn't quite right for the situation? That's precisely what we dive into in this episode about heuristics—those mental rules of thumb that help us navigate complex decisions in supply chain management.
The 80-20 rule, ABC inventory classification, recent supplier performance—these are just a few of the heuristics that make our decision-making more efficient. But there's a shadow side to these mental shortcuts. The availability heuristic makes us overvalue what easily comes to mind. The anchoring heuristic ties us to initial information. The recency heuristic distorts our perspective based on recent events. While these shortcuts save time, they can lead us astray when we apply them without considering the unique context of each situation.
What makes this exploration particularly valuable is the contrast between theory and practice. I share why my most valuable insights have rarely come from polished conference presentations but instead from conversations with people doing the actual work—on production lines, driving trucks, or managing warehouses. This hard-earned wisdom reveals that the answers to our most pressing supply chain challenges often lie not in sophisticated algorithms or consultant decks, but in the experiences of those closest to the daily operations.
Supply chain professionals will find this episode offers both practical awareness of common decision-making pitfalls and a reminder of where to look for authentic solutions. The next time you reach for that comfortable heuristic, pause and ask whether it truly fits your specific situation—your future success might depend on it. Subscribe to Chain Reaction to continue exploring the human side of supply chain excellence.

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About Tony Hines and the Chain Reaction Podcast – All About Supply Chain Advantage
I have been researching and writing about supply chains for over 25 years. I wrote my first book on supply chain strategies in the early 2000s. The latest edition is published in 2024 available from Routledge, Amazon and all good book stores. Each week we have special episodes on particular topics relating to supply chains. We have a weekly news round up every Saturday at 12 noon...

Chapters

1. Introduction to Chain Reaction (00:00:00)

2. Understanding Heuristics in Decision Making (00:00:37)

3. Supply Chain Heuristic Examples (00:06:42)

4. The Limitations of Familiar Approaches (00:11:16)

5. Learning from Workers, Not Managers (00:14:29)

6. Key Takeaways and Episode Closing (00:19:38)

317 episodes

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