In order to accomplish the goals of maintaining an effective supply chain, the firm needs to establish and maintain long-term relationships with its suppliers. Most supply chain problems inherently involve multiple conflicting criteria. Risks in the supply chain are dynamic in nature. While some risks can be either reduced or eliminated, new ones will appear. This chapter will focus on the development of a mufti-criteria model using meta-goal programming to develop a supplier selection process. The goals of the model include (1) the minimization of the net cost for all items, (2) the minimization of the defective items, and (3) the minimization of late-delivered items.
All Science Journal Classification (ASJC) codes
- Business, Management and Accounting(all)
- Meta-goal programming
- Multiple criteria decision-making
- Vendor selection