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Vendor Evaluation Using MCDM Method (GTMA)
1G. H. Sonawane, 2L. K. Toke*, 2A. D. Lokhande, 2G. G. Waghmare

Published in: International Journal of Scientific Review and Research in Engineering and Technology
Volume- 1, Issue-6, pp.11-22, Oct 2016
DPI :-> 16.10069.IJSRRET.2016.V1I6.1122.1346



Abstract
In today’s highly competitive environment, an effective vendor selection process is very important to the success of any manufacturing organization. A basic part of the logistics management of companies is the purchasing function, and vendor selection. At present, number of diverse capabilities, features, facilities and specifications are available in the market. The appropriate selection of vendors and allocating orders among them is one of the prime responsibilities of this function. Wrong selection of vendor often leads to huge cost involvement and ultimately drives towards premature component or product failure. In this paper, most appropriate multi-criteria decision- making (MCDM) method such as Graph Theory and Matrix Approach (GTMA) method is used for vendor selection problem and compares their relative performance for a given industrial application. The case study of automotive company is cited in order to demonstrate and validate the applicability and potentiality of this MCDM method. It is observed that the relative rankings of the alternative of vendors as obtained using Graph Theory and Matrix Approach (GTMA) method.

Key-Words / Index Term
Vendor, multi-criteria decision- making (MCDM), Graph Theory and Matrix Approach (GTMA) method.

How to cite this article
1G. H. Sonawane, 2L. K. Toke*, 2A. D. Lokhande, 2G. G. Waghmare , “Vendor Evaluation Using MCDM Method (GTMA)”, International Journal of Scientific Review and Research in Engineering and Technology, 1, Issue-6, pp.11-22, Oct 2016. DPI:16.10069.IJSRRET.V1.I6.1346