Analytical hierarchy process - supplier selection, Business Economics

Assignment Help:

Analytical Hierarchy Process - Supplier Selection

Supplier selection is a multi-criteria decision-making problem that the selection process mainly involves evaluating a number of suppliers according to a set of common criteria for selecting suppliers to meet business needs. For any manufacturing or service business, selecting the right upstream suppliers is a key success factor that will significantly reduce purchasing cost, increase downstream customer satisfaction, and improve competitive ability. Evaluation criteria may be tangible (measurable) items or intangible (immeasurable) items. Different sets of criteria have been proposed to evaluate suppliers including quality, delivery time, price, quantity history. The case study proposed that price, quality and delivery are the most important criteria for evaluating suppliers in industrial market. This paper develops a supplier selection process, which will be more effective for continual process improvement, and is based on a case study carried out in leading automobile manufacturing company. The Analytical Hierarchy process (AHP) method applied in this case study to develop the effective supplier selection. The Additive Normalization Method and Eigen Vector Method are used as the prioritization methods to determine the priority vector.  The application of AHP can be applied to enhance the decision-making process and reduce the time taken to select a supplier. AHP helps the companies to protect the production line from shortage of raw material.


Related Discussions:- Analytical hierarchy process - supplier selection

Average and standard deviation of monthly return, Report the average and st...

Report the average and standard deviation of monthly return for your corporation and the S&P 500 on the spreadsheet.  Use the spreadsheet functions to calculate these: =AVERAGE(dat

The fit stop, Summary Strategy management Variables Rewards

Summary Strategy management Variables Rewards

What are the factors of the economic sectors, What are the factors of the e...

What are the factors of the economic sectors? The factors of the economic sectors: • Primary sector including natural resources as like agriculture, fishing, quarrying minin

Greatest minimum efficient scale, The values for the long-run ATC curves of...

The values for the long-run ATC curves of three different firms are listed in the table below: Quantity ATC 1 ATC 2 ATC 3

#titl, interaction between the two market force, demand and supply

interaction between the two market force, demand and supply

Scarcity, explain the role scarcity of resources plays in economic decision...

explain the role scarcity of resources plays in economic decision making

The economic environment of business, MBA - MACROECONOMICS ASSIGNMENT Pr...

MBA - MACROECONOMICS ASSIGNMENT Professor Instructions Abide by following points or no credit will be given for your answers: • Concise and to-the-point answersare what

Define the using influences of contract staff for is project, Define the us...

Define the using influences of contract staff for IS project. Use of contract staff: Such are frequently an unknown quantity.  It is reasonable to assume that people who

Cournot model, Consider a Cournot duopoly. The market demand is p=190-q1-q2...

Consider a Cournot duopoly. The market demand is p=190-q1-q2. Firm 1's marginal cost is 40, and firm 2's marginal cost is also 40. There are no fixed costs. A.    Derive every fir

Do policies that work in one country always work in another, Do policies th...

Do policies that work in one country always work in another? Less developed countries are similar but diverse in terms of history, institutions, culture and governance and man

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd