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612-822-4611
Procurement Psychology

Procurement Psychology

Paperback

Management

ISBN10: 6209479995
ISBN13: 9786209479991
Publisher: Scholars' Press
Published: Jan 13 2026
Pages: 136
Weight: 0.42
Height: 0.32 Width: 6.00 Depth: 9.00
Language: English
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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Management