Supplier Selection in A Supply Chain Using Multi-Criteria Decision Making Methods
Journal Title: American journal of Engineering Research - Year 2017, Vol 6, Issue 10
Abstract
Supplier evaluation and selection has been a vital issue of strategic importance in a supply chain. Different Multi-criteria decision making (MCDM) approaches namely Simple Additive Weighing (SAW), Multi Objective Optimization on the basis of Ratio Analysis (MOORA), Technique of Ordered Preference Similarity to Ideal solution (TOPSIS) have been proposed by the researchers in past, to solve the supplier evaluation and selection problem. The Ranking performances of the three methods are analyzed and compared to find the most prevalent approach in the articles and thereby present the future scope of arriving at an optimal solution to the problem, based on the specification, the strategies and the requirements of the buyers. Sensitivity analysis is also carried out for the three methodologies for in depth analysis. It is carried out by varying the individual weights of the criteria and by using normalized weights of the criteria. The results obtained using these three methods are observed to be almost similar to those derived by the past researchers. The projects work concludes that all the three methodologies are highly robust in nature.
Authors and Affiliations
Arijit Guchhait
Keywords
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