COMPARISON OF THREE FUZZY MCDM METHODS FOR SOLVING THE SUPPLIER SELECTION PROBLEM

The evaluation and selection of an optimal, efficient and reliable supplier is becoming more and more important for companies in today’s logistics and supply chain management. Decision-making in the supplier selection domain, as an essential component of the supply chain management, is a complex pro...

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Bibliographic Details
Published in:Facta Universitatis. Series: Mechanical Engineering 2019-12, Vol.17 (3), p.455-469
Main Authors: Petrović, Goran, Mihajlović, Jelena, Ćojbašić, Žarko, Madić, Miloš, Marinković, Dragan
Format: Article
Language:English
Subjects:
Component and supplier management
Criteria
Decision making
Evaluation
Logistics
Problem solving
Suppliers
Supply chain management
Supply chains
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Summary:The evaluation and selection of an optimal, efficient and reliable supplier is becoming more and more important for companies in today’s logistics and supply chain management. Decision-making in the supplier selection domain, as an essential component of the supply chain management, is a complex process since a wide range of diverse criteria, stakeholders and possible solutions are embedded into this process. This paper shows a fuzzy approach in multi – criteria decision-making (MCDM) process. Criteria weights have been determined by fuzzy SWARA (Step-wise Weight Assessment Ratio Analysis) method. Chosen methods, fuzzy TOPSIS (Technique for the Order Preference by Similarity to Ideal Solution), fuzzy WASPAS (Weighted Aggregated Sum Product Assessment) and fuzzy ARAS (Additive Ratio Assessment) have been used for evaluation and selection of suppliers in the case of procurement of THK Linear motion guide components by the group of specialists in the “Lagerton” company in Serbia. Finally, results obtained using different MCDM approaches were compared in order to help managers to identify appropriate method for supplier selection problem solving.
ISSN:0354-2025
2335-0164
DOI:10.22190/FUME190420039P