Reference no: EM133519161
Assignment:
Decision Analysis
Operations research
Based on the decision Analysis theory perform an analysis on Alibaba.
1. Define Criteria: Identify and define the criteria that are important for selecting a supplier on Alibaba. These criteria could include factors such as product quality, price, supplier reputation, delivery time, communication, payment terms, and customer reviews. Assign weights to each criterion based on its relative importance in the decision-making process.
2. Gather Data: Research and collect data on each potential supplier's performance for each criterion. Visit the supplier's Alibaba profile, review their product listings, examine customer reviews and ratings, and communicate directly with the suppliers if necessary. Obtain information about their product quality, pricing, track record, communication responsiveness, and any other relevant factors.
3. Create a Weighted Score Model: Create a weighted score model to evaluate and compare the potential suppliers. Assign scores or ratings to each supplier for each criterion based on the gathered data. Multiply the scores by the corresponding weights and calculate the weighted score for each supplier and criterion.
4. Calculate Overall Scores: Sum up the weighted scores for each supplier to obtain an overall score for each supplier. The overall score represents the supplier's performance when considering all the criteria, taking into account their respective weights.
5. Interpret Results: Analyze the results and interpret the scores to determine which supplier performs best according to the defined criteria. Consider the strengths and weaknesses of each supplier based on their scores in different criteria.
Evaluate aspects such as product quality, pricing competitiveness, supplier reputation, and customer satisfaction.
6. Sensitivity Analysis: Perform sensitivity analysis by adjusting the weights assigned to the criteria. Evaluate how changes in weights impact the ranking of the suppliers and the final decision. Discuss the implications of different weightings on the decision outcome. For example, if price is a critical factor, increase or decrease its weight and observe the impact on supplier rankings.
7. Recommendation: Based on the analysis and interpretation of the results, make a recommendation on the supplier that should be selected from Alibaba.