Procurement Psychology

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Procurement Psychology by Obinna Nwodo explores the intersection of behavioral science and strategic sourcing, arguing that every procurement decision is fundamentally a product of the human mind rather than just economic models. The book challenges the traditional view of "economic rationality" by examining how cognitive shortcuts (heuristics), emotional responses, and unconscious biases such as anchoring, confirmation bias, and the sunk cost fallacy can lead to irrational and costly errors.Nwodo structures the work into three parts: establishing the foundations of the "buyer's brain" using Kahneman's System 1 and System 2 framework ; analyzing social dynamics like trust, power, and negotiation ; and addressing modern frontiers like digital procurement and "nudging" for ethical or sustainable outcomes. Ultimately, the book provides a roadmap for professionals to move from "unconscious incompetence" to "conscious competence" by implementing systematic debiasing tools to build more resilient, value-driven supplier relationships.

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Pages: 136, Paperback, Scholars' Press