Improving The Supplier Selection Methodology In A Tool Manufacturing Unit

Author(s):

NOUFAL GAFOOR , MANGALAM COLLEGE OF ENGINEERING; VIPIN MATHEW, MANGALAM COLLEGE OF ENGINEERING; TINU THOMAS, MANGALAM COLLEGE OF ENGINEERING

Keywords:

SWARA (Stepwise Weight Assessment Ratio Analysis), TOPSIS (Technique of Order Preferences to Similarity to Ideal Solution), MCDM (Multi Criteria Decision Making)

Abstract:

Supplier selection, which includes multi criteria and multiple conflicting objectives, can be defined as the process of finding the right suppliers with the right quality at the right price, at the right time, and in the right quantities. In this paper, a two-stage model for Supplier quality evaluation for a Tool Manufacturing unit is proposed. Improper evaluation of supplier selection affects delivery, quality and cost of products, and a new MCDM method of combined SWARA and TOPSIS for supplier rating is proposed which facilitates selection of best supplier from a bunch of suppliers. SWARA is used to find out the criteria weight individually & TOPSIS is used to decide the best supplier from existing one.

Other Details:

Manuscript Id	:	IJSTEV3I2074
Published in	:	Volume : 3, Issue : 2
Publication Date	:	01/09/2016
Page(s)	:	208-211

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