Vendor selection under uncertainty

Extract

[...] developed a fuzzy programming approach to deal with the effect of information uncertainty in the constraints of vendor selection process, and showed the results at increasing levels of uncertainty. Kumar, et al. developed a solution procedure based on utility theory and chance constrained programming to solve a supplier quota allocation problem where a realistic constraint in budget allocation to individual vendors was a random variable, and showed the results at various degrees of uncertainty [10]. Kumar proposed a solution procedure based on a hybrid approach of utility theory and interval programming to solve multi-objective vendor selection problems where some of the parameters were uncertain Kumar, et al. [...]

[...] A hypothetical vendor selection problem is constructed to illustrate our methodology. Finally, we conclude by summarizing our results in section Identifying the Criteria The vendor selection decision is a complex process involving various criteria. These criteria may vary depending on the type of product being considered, and include many judgment factors [18]. The vendor selection process is a multi-criteria decision, encompassing many tangible and intangible factors in a hierarchical manner. The top level of the hierarchy represents the ultimate goal of the process - to select the best vendor that can meet customer requirements, bring profits to the firm, and compete strongly in the market. [...]

[...] respectively, where N α λ (Vi ) = m , the larger the value, the more the suitability of the selection of the vendor NUMERICAL EXAMPLE We consider a medium sized telecommunication company, where the purchasing department is in need of procuring a new network equipment system (which is mainly used for data transferring services to the customers). Three potential vendors, V1, V2, V3, were short listed for evaluation. A group of people from purchasing department has been considered as decision maker who can assign different weights to the criterion and vendors [12]. [...]

[...] presented the DEA method for the multiple objective vendor selection decision. Another popular method for solving multi-criteria decision problems, including tangible and intangible criteria, is the analytic hierarchy process (AHP) of Saaty [17]. Nydick and Hill and Barbarosoglu and Yazgac proposed the use of the analytic hierarchy process (AHP) to deal with imprecision in vendor choice. Narasimhan used the AHP to generate weights for the vendor selection decision. Partovi, et al. reviewed the published applications of AHP in vendor selection [16]. [...]

[...] Shankar, fuzzy goal programming approach for vendor selection problem in a supply chain”, Computers & Industrial Engineering, vol no.1, pp. 69- M.Kumar, hybrid approach for vendor selection problem”, Udyog Pragati, vol no.1, pp. 20- M.Kumar, P. Vrat and R. Shankar, fuzzy programming approach for vendor selection problem in a supply chain”, International Journal of Production Economics, vol.101, no.2, pp. 273- M.Kumar, P. Vrat and R. Shankar, integrated approach using utility theory and chance constrained programming for supplier quota allocation”, International Journal of Integrated Supply Management, vol no. [...]