Case study based vendor selection by TOPSIS and Pugh Matrix approach
Journal Title: International Journal for Research in Applied Science and Engineering Technology (IJRASET) - Year 2016, Vol 4, Issue 9
Abstract
Manufacturing industries to succeed, supply chain has a key role to play. Similarly selecting right supplier plays a vital role in product procurement. To have smooth supply chain mechanism every process which has direct or indirect effect on product has to be streamlined right from selecting a supplier to deliver finish goods to customer. Selection of supplier has many important aspects to consider so that right quality product is delivered at right place at right time at the right price. Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) plays a vital role in evaluating a vendor for a particular project. For most of the shipments, the payment terms are 45 days from shipping hence along with the cost, quality and delivery plays an important role in any project. The basic purpose for the research paper is to select the right supplier for the right kind of work to be done with the required constraints. There are various methods, which can be adopted, but the paper describes about Topsis and Pugh matrix method. The validation of Topsis is done by using Pugh Matrix method, on the same grounds of grading pattern. The Pugh Matrix is a type of Matrix Diagram that allows for the comparison of a number of design candidates leading ultimately to which best meets a set of criteria. It also permits a degree of qualitative optimization of the alternative concepts through the generation of hybrid candidates. Vendor evaluation is done using different attributes including, Quality, Delivery, Cost and standardization of the product. And we conclude that quality and delivery also plays an important role for vendor selection. The paper has a limitation of inclusion of just two methods for getting the optimum results.
Authors and Affiliations
Chaitanya Gawandalkar, Arun B. Rane
Keywords
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