Abstract

The simplest definition of supply chain is the delivering of goods and/or services to the consumers required by the organization. In the late 1950s it was identified that the supply chain system was becoming more uncertain due to the changes in demands and inventory. Due to globalization and other business factors, supply chain has become more complex now due to which the likelihood and impact of disruption has increased. These disruptions can vary between known-unknowns and controllable to unknown-unknowns and uncontrollable ones. In recent years, the major disruptions happening in the supply chain and its effects on bottom line of organizations has led Management taking a greater interest in supply chain resilience which has been an interest among continuity, risk, and resilience professionals for many years. The research conducted in understanding the decisions made by organizations to handle disruptions and identify strategies to minimize risks are vast. During a disruption, uncertainties and risks are higher and it is the organization and individuals who are responsible in making the decisions to navigate through such known unknowns. It’s argued that an organization’s effectiveness is dependent on individual’s decision-making skills. However, the ‘why’ and ‘how’ of decisions made remains mysterious. The paper will navigate the behavioural characteristics of individual decision-makers during such disruptions and its impact to organization’s resilience. Neuroscience and neuroeconomics was used as a novel approach to learn about behaviours of individuals during uncertain and risky situations. Theories such as the IGT, Expected Utility are explored to understand behaviour of individuals. Neural correlations are used to understand what regions of the brain are activated during such situation. Emotion regulation strategies such as cognitive reappraisal is also explored to understand how individuals can make better decisions.

Publication Date

5-9-2022

Document Type

Master's Project

Student Type

Graduate

Degree Name

Engineering Management (ME)

Advisor

Slim Saidi

Advisor/Committee Member

Adolf Acquaye

Campus

RIT Dubai

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