“…In this context, the attributes which are usually related to the product include value/price relationship or product quality (Sheth 1973;Wind, Green, and Robinson 1968).…”
“…In this context, the attributes which are usually related to the product include value/price relationship or product quality (Sheth 1973;Wind, Green, and Robinson 1968).…”
“…Second, criteria included in the supplier selection process may frequently contradict each other. Wind and Robinson (1968) identified possible contradictions such as the vendor with the lowest price may not have the best quality, or the vendor with the best quality may not deliver on time. Therefore, the purchasing teams must take into consideration the trade-offs among the criteria to be used.…”
This article presents the vendor selection problem of the hydraulic pump division of a US original equipment manufacturing company. The division wants to identify appropriate vendors and allocate purchase orders among them while minimizing product acquisition costs and maximizing total product quality and delivery reliability. Visual interactive goal programming is used as a multi-criteria decision analysis tool. Interaction with decision makers during the model building and solution process, and implications are discussed.
“…The most common approach is the weighted point plan, which consists of stipulating a number of criteria, giving them different weights and selecting the supplier with the best weighted total score (Wind and Robinson 1968).…”
Section: Approaches To Supplier Selectionmentioning
During the construction phase one important factor that facilitates project cost monitoring and control is the selection of the appropriate construction material suppliers. Material vendors' performance could significantly affect the project's outcome especially its final cost and schedule. This paper aims at providing a standardized approach in selecting the best supplier through the formation and use of an appropriate mathematical equation based on multiple criteria. The creation of the function is based on a prototype questionnaire survey. The participants were presented with a predefined set of criteria and were asked to rank them according to their significance. Various statistical methods and techniques were applied to the collected data that produced a number of justified results. Comparison and synthesis of the various outcomes led to the creation of the optimal function for the best supplier selection problem.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.