Analyzing problems and optimization of supply chain in different industries using SAW and TOPSIS methods

Due to high level competition in market, effective supply chain management has become a potentially important tool for gaining and effective competitive advantage and refining organizational performance, because the competition is not only amongst companies but also between supply chains. Supply cha...

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Bibliographic Details
Published in:IOP conference series. Materials Science and Engineering 2019-11, Vol.691 (1), p.12073
Main Authors: Pathak, V K, Garg, D, agarwal, A
Format: Article
Language:English
Subjects:
Attributes/criteria
Budgets
Business competition
Competitive advantage
Customer satisfaction
Customers
Optimization
SAW
Scientific papers
Supply chain
Supply chains
TOPSIS
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Summary:Due to high level competition in market, effective supply chain management has become a potentially important tool for gaining and effective competitive advantage and refining organizational performance, because the competition is not only amongst companies but also between supply chains. Supply chain plays a significant role in company's performance. Companies are challenged to explore ways to meet the customer demands and satisfaction at a manageable cost. To achieve this, business must find which parts of supply chain process are competitive and can be optimized with budget constraints meeting customer demands. In any unit it is mandatory to produce a high quality product with minimal budget successfully. Selection of a suitable supplier is equally important due to budget constraints. There are various methods for making the optimize result. In this research paper collecting the data from different industries and optimize the result by selecting TOPSIS and SAW methods for the solution of this problem. In this technique the decision is made by comparing each alternative with the ideal solution, hence delivering the best results.
ISSN:1757-8981
1757-899X
DOI:10.1088/1757-899X/691/1/012073