December 2012
Intermediate to advanced
561 pages
22h 33m
English
Content preview from Logistics Management ,3rd Edition by Pearson
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340 • Logistics Management
21.1 INTRODUCTION
Decision making is an essential and a major part of the management process. The manager, while
carrying out the management functions such as planning, organizing, directing and controlling,
is continuously engaged in the process of decision making. In making decisions, the management
attempts to choose a course of action that is most effective under the given circumstances as well as
in line with the goals of the organization. The situations a manager may face are:
• Decisions under certainty or uncertainty of the facts with variation in the probability of hap-
pening of an event
• Decisions for one ...
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