Chain Reaction Podcast Heuristics in Action: When Experience Meets Decision-Making
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 heuri…