Analysis on multi criteria decision Making for supplier selection

Abstract

Supplier selection is one of the most important functions to be newlineperformed by the purchasing department The decisions related to the supplier newlineselection problem determine the long term viability of the company The newlinesupplier selection is a Multi Criteria Decision Making problem MCDM newlineinvolving both qualitative and quantitative criteria The earlier research works newlinehave concentrated on supplier selection selection criteria and methods of newlinesupplier selection with a general objective of selecting best supplier newlineIn order to select the best suppliers it is necessary to make a trade off newlinebetween tangible and intangible criteria that conflict with each other This newlineresearch work has been dealt with the supplier selection problem The newlinedifferent selection criteria the various problems of suppliers selection and newlinethe existing methods to solve the problems have been studied in this research newlinework newlineThe critical review of the literature has yielded a solution that there are newlinea large number of decision making methods and tools available for supplier newlineselection Due to the multi objective nature of the supplier selection process newlinethe use of mathematical programming based decision making methods and newlinetotal cost based approaches are important to identify the best supplier These newlineapproaches do not effectively address the subjective criteria for supplier newlineselection A decision model that accommodates both subjective and objective newlinecriteria with accurate and faster calculation procedure is essential towards the newlinesupplier selection in this global competitive business environment The newlinedevelopment of a new decision support system has been proposed to resolve newlineMCDM on supplier selection problem and achieve a consistent attitude newlinetoward decision making newline newline