Development and assessment of modified VIKOR method for multi-criteria single sourcing in supply chain
by P. Parthiban, M. Punniyamoorthy, K. Ganesh, G. Ranga Janardhana
International Journal of Business and Systems Research (IJBSR), Vol. 4, No. 1, 2010

Abstract: The sourcing decision plays a major role in supply chain because raw materials/semi-finished goods cost constitute the key cost of final product. We develop a modified VlseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR) method, a compromise ranking model for evaluation and selection of sourcing partners to handle the conflicting and non-commensurable set of criteria and to identify the solution close to ideal. The modified VIKOR method is compared with two multi-criteria decision-making methods: technique for order preference by similarity to an ideal solution (TOPSIS) and elimination and choice translating reality (ELECTRE). All the three approaches were illustrated and compared for a computer retail supply chain case study. The better results of modified VIKOR are validated.

Online publication date: Thu, 03-Dec-2009

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