Suppliers Selection In Manufacturing Environment Using Range Of Value Method

Vol. 3 No.3

Year: 2013

Issue: May-Jul

Title : Suppliers Selection In Manufacturing Environment Using Range Of Value Method

Author Name : Goutam Kumar Jha, Prasenjit Chatterjee, Rupsa Chatterjee , Shankar Chakraborty

Synopsis :

Selection and evaluation of suppliers is a burning issue in the context of modern manufacturing environment to increase organizational competitiveness due to an extensive variety of customer demands. It has become more and more complicated to meet the challenges of international competitiveness, and as the decision makers need to assess a wide range of alternative suppliers based on a set of conflicting criteria. Because of these reasons, supplier selection has got considerable attention by the academicians and researchers. Although, a huge number of mathematical approaches is now available for supplier selection under discrete manufacturing environment, this paper explores the applicability of almost a new multi-criteria decision-making approach, i.e. range of value method (ROVM) for supplier selection. The proposed method is used to rank the alternative suppliers, for which several ordinal and cardinal requirements are considered simultaneously. Two illustrative examples are cited which prove that ROVM method can be very useful to solve real time supplier selection problems. In each example, a list of all the possible choices from the best to the worst suitable suppliers is obtained, which almost match with the rankings as derived by the past researchers.