Compared Evaluation of Vendor Selection Using Different Methods

In the era of highly competitive and global operating environment, it is the responsibility of the organization to focus all its activities to meet the never-ending demands of the knowledge able customers. Hence, holistic approaches from all the departments of the organization are required to achieve the objectives. One of the functions that attained a prominent place in the organizations these days is the supply chain management and a vital sub-function of this includes the supplier selection, which helps in achieving a low cost high quality, on-time delivery of the products. The present work basically concentrates on this vital area of supplier selection which is a multi-criterion problem including both the qualitative and quantitative factors .The problem is dealt with the help of a case-study, where in many alternatives of selecting a supplier is done with the help of linear weighing model technique is called the VIKOR method. This result is then compared with the results of the already existing traditional method called TOPSIS method, which is more reliable while going for a supplier selection.