Supplier selection-order allocation: A two-stage multiple criteria dynamic programming approach |
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Authors: | Fereshteh Mafakheri Michele Breton Ahmed Ghoniem |
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Institution: | a Business School, University of Greenwich, London, SE10 9LS, UK;b GERAD & HEC Montreal, Montreal, QC, H3T 2A7, Canada;c Isenberg School of Management, University of Massachusetts Amherst, MA 01003, USA |
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Abstract: | This paper proposes a two-stage multiple criteria dynamic programming approach for two of the most critical tasks in supply chain management, namely, supplier selection and order allocation. In the first stage, to address multiple decision criteria in supplier ranking, the analytic hierarchy process (AHP) is employed. In the second stage, supplier ranks are fed into an order allocation model that aims at maximizing a utility function for the firm as well as minimizing the total supply chain costs, subject to constraints on demand, capacity, and inventory levels. A dynamic programming approach is crafted to solve the proposed bi-objective model. |
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Keywords: | Supplier selection Order allocation Multiple criteria decision-making Dynamic programming |
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