Supplier Selection Model Based on the Interval Grey Number

Zhi-yong Zhang () and Sheng Wu ()
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Zhi-yong Zhang: Beijing Wuzi University
Sheng Wu: Beijing Wuzi University

Chapter Chapter 56 in The 19th International Conference on Industrial Engineering and Engineering Management, 2013, pp 543-554 from Springer

Abstract: Abstract Supplier selection plays an important role in the management of purchasing. Decision support tools and methodologies can help managers make more effective decisions. Many tools have been developed with a variety of formal modeling techniques, but these techniques are limited for the reason that they are not available when the criteria value are interval grey numbers. There are many reasons for the criteria values should be expressed by the interval grey numbers. This paper proposes a new approach for the supplier selection which is prepared to deal with the interval grey criteria based on the definition of grey circle/radius and distance degree. The interval criteria value and its whitenization weight function (WWF in shorted) make the model more realistic and accurate. Through a numerical case, on both the theoretical and the practical level, it has been proved that this model is correct and feasible.

Keywords: Grey system theory; Grey circle/radius; Interval grey number; Supplier selection (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-38391-5_56

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DOI: 10.1007/978-3-642-38391-5_56

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