Circular supplier evaluation and selection' using hybrid MCDM methods: Case of the steel manufacturing industry

Verma, Rakesh, Ajaygopal, KV and Koul, Saroj (2022) Circular supplier evaluation and selection' using hybrid MCDM methods: Case of the steel manufacturing industry. In: International Symposium of the Analytic Hierarchy Process 2022, DEC. 15 – DEC. 18, 2022, Web Conference.

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Abstract

Supplier evaluation is a prominent multi-criteria problem encountered in supply chain management (SCM). The steel industry has prioritized quality, cost and delivery in most of its decision-making for choosing suppliers. However, corporations are adopting circular economy (CE) principles more frequently due to the current focus on attaining sustainability and minimizing environmental damage. An integrated multiple-criteria decision-making (MCDM) method is proposed in this study to evaluate circular suppliers (CS) in the steel manufacturing sector from a developing country's standpoint, which includes Best-Worst Method (BWM) and Comprehensive Distance-Based Ranking (COBRA). In this proposed method, optimum weights of all criteria were determined by BWM, and then suppliers were ranked using COBRA. Results revealed that the top three factors for choosing a supplier are on-time supply, meeting specifications, and rejection rate. The resultant ranking from the proposed methodology was compared with another MCDM method and presented its result.

Item Type: Conference or Workshop Item (Paper)
Keywords: Supplier Evaluation | MCDM | Best-Worst Method (BWM) | COBRA
Subjects: Social Sciences and humanities > Business, Management and Accounting > General Management
JGU School/Centre: Jindal Global Business School
Depositing User: Amees Mohammad
Date Deposited: 02 Feb 2023 04:49
Last Modified: 02 Feb 2023 04:49
URI: https://pure.jgu.edu.in/id/eprint/5545

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