Inventory Decision in Vuca World Using Economic Logic Quantity (original) (raw)

The Annals of the University of Oradea. Economic Sciences, 2021

Abstract

If ever the concept “VUCA” (Volatility, Uncertainty, Complexity, and Ambiguity) seemed appropriate to use, it is now. National and global companies experience the highest level of instability due to the Covid-19 pandemic, which is the classic example of a highly volatile, uncertain, complex, and ambiguous world. In this world, decision-makers have to face more challenges appealing to the VUCA Prime leadership approach: vision against volatility, understanding against uncertainty, clarity against complexity, and agility against ambiguity. Some of the ways through which managers can overcome the VUCA characteristics include: providing a shared vision as a criterion for all decisions to be made, identifying the reason for the decision problems and sharing the idea with the followers, going through the entire decision process, following steps in proper order, and developing quick solutions. In an inventory decision taken in a VUCA context, the above ways are possible if using fuzzy inve...

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