SELECTION OF VENDOR ATTRIBUTES USING ARTIFICIAL NEURAL NETWORKS

Abstract

Vendor selection is a discipline in which extensive research has been carried out and numerous methodologies churned out. The vendor selection problem deals with issues related to the selection of right vendors and their quota allocations. In designing a supply chain, a decision maker must consider decisions regarding the selection of the right vendors. The choice of the right vendor is a crucial decision with wide ranging implications in a supply chain. Vendors play an important role in achieving the objectives of the supply management. Vendors enhance customer satisfaction in a value chain. Hence, strategic partnership with better performing vendors should be integrated within the supply chain for improving the performance of an organization. There are numerous criterions and approaches present in the literature for the selection of vendor but the vendor selection process has undergone significant changes during the past twenty years. These include increased quality guidelines, impr...