Multiple Criteria Decision Analysis - 1777 Words

Chapter 2 Vendor Evaluation and Multiple Criteria Decision Analysis 2.1 Vendor Evaluation Supplier or vendor selection decisions are complicated by the fact that various criteria must be considered in decisions making process. The analysis of criteria for selection and measuring the performance of suppliers has been the focus of many scientists and purchasing practitioners since 1960s. The majority of research about supplier selection problem mentions Dickson’s study [9]. It is based on a questionnaire sent to 273 purchasing agents and managers selected from the membership list of the National Association of Purchasing Managers, which include agents and managers from the United States and Canada. Dickson’s study describes the importance of 23 criteria for supplier selection which are classified with respect to their importance observed in the beginning of the sixties. At that time, the most significant criteria are quality of the product, the on-time delivery, the performance history of the supplier and the warranty policy used by the supplier. Table 2.1 Dickson’s Supplier Selection Criteria Rank Criteria 1 Quality 2 Delivery 3 Performance history 4 Warranties and claim policies 5 Production facilities and capacity 6 Price 7 Technical capability 8 Financial position 9 Procedural compliance 10 Communication systems 11 Reputation and position in industry 12 Desire of business 13 Management and organization 14 Operating controls 15 Repair service 16 Attitude 17 Impression 18Show MoreRelatedPlatform Strategies For Multiple Criteria Decision Making899 Words   |  4 PagesOrganization [44]. 2.3Overview of Multiple Criteria Decision Making (MCDM) Decision making is the study of identifying and choosing alternatives based on the values and preferences of the decision maker. 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