A FUZZY - STATISTICAL COMPARATIVE APPROACH TO VENDOR SELECTION PROBLEM
by by Prabjot Kaur, Rakesh Verma, N.C.Mahanti and Soubhik Chakraborty.
n the process of vendor selection, the most important issue is to determine
a suitable decision-making method and select the right vendor. Essentially
the vendor selection problem is a multi-criteria decision making problem under
an uncertain environment. Fuzzy set theory best handles these uncertainties.
In this paper an integration of standard scores (fuzzy and crisp) and linear
programming is proposed to consider both tangible and intangible factors in
choosing the best vendors and placing the optimum order quantities among them
such that the total value of purchasing (TVP) becomes maximum. We use Andrews'
plot for plotting multivariate data in two dimensions. Finally a numerical example
illustrates our methodology.
Vendor Selection Problem; Z Score; Linear programming; Fuzzy numbers; Andrews plot
Prabjot Kaur, email@example.com
Rakesh Verma, firstname.lastname@example.org
Soubhik Chakraborty, email@example.com
Richard Graf, firstname.lastname@example.org
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