Game theory is on the rise
Third TWS Partners and CIPS survey on the application of game theory in Procurement
CIPS and TWS Partners recently conducted their third annual survey designed to explore the awareness, understanding, and application of game theory within Procurement.
This survey examined in depth the composition and availability of game theory training within corporations, as well as the current status of technology that can facilitate game-theoretically optimised negotiations and tenders within Procurement.
Key findings of the survey include:
- Usage of game theory is growing
Application of game theory in Procurement increased – now at 19 % across all respondents
- Game theory is expected to trend further
> 65 % of participants predict game theory applications to grow
- Appetite and interest are not translating to knowledge
> 70 % of respondents have only a basic or a below basic understanding of game theory
- Availability of training appears limited
< 20 % of participants had on-the-job training in game theory
- Existing software tools do not suffice
> 50 % of respondents desire new or improved software solutions
- Advanced software solutions are not widely available
90 % of respondents do not have the software they need for their work
Get all results and learn more about the value game theory can add!
Download the full survey report for free!
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