Optimal Vendor Selection By Fuzzy Optimization

The formulation of an optimal vendor selection model provides guidance in decision making for manufacturer. In this paper, we formulated a model that taking multiple objectives, multiple products and capacity limit of each vendor into account, which make the model much more applicable to practical situations. Data-based optimal function for each objective realized the quantification of the model. The fuzzy optimization approach handled the uncertainty of hum an's decision making. This model balance the degree of satisfaction for all the objects and guarantee the worst performance objective get its priority in making decision. This model can be applied to any area only with the basic data for model formulation.