Hybrid MCDM approach for vendor ranking

Abstract

Purpose The study aims to present the hybrid approach of multiple MCDM techniques with strategic perspective to assist the vendor ranking process. Design/methodology/approach Multiple MCDM techniques such as fuzzy QFD, mathematical modelling and ANP (analytical network process) are integrated in the model for vendor ranking. Multiple phases in vendor ranking such as pre‐qualification and final selection are dealt with using the above techniques. Findings Compared to individual approaches, the proposed hybrid model effectively assists the vendor ranking process. The efficacy of the proposed approach is evident from the case study of an automotive components manufacturer involving 20 vendors comprising pre‐qualification by fuzzy QFD and final selection by ANP. This set of potential vendors is evaluated based on three main criteria and eight sub criteria. Originality/value Fuzzy QFD is employed for qualifying supplier to form a supplier pool, as it is helpful in converting qualitative information into quantitative parameters. This data is then combined with other quantitative data to form a mathematical model. The mathematical model is solved by the method of integer programming, using TORA. ANP with BOCR (benefits, opportunities, costs, and risks) is proposed for evaluating and selecting appropriate supplier. ANP model is solved using Super Decision package.

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