Journal of Supply Chain Management Systems

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Review of Supplier Selection Models: Key Success Factors and Blueprint of Supply Chain Excellence


Affiliations
1 College of Management & Economic Studies University of Petroleum and Energy Studies, Dehradun, India
     

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In turbulent economic situation, the cost of Production is the key to competitive advantage. To sustain competitive for the long term a firm need to focus on upstream Supply Chain. The Supplier selection has a critical impact on Cost of raw materials, which finally affect the Costs of goods sold. Every firm has their own set of parameters on which they select suppliers. Depending upon their strategies it could be either short/long-term contract which further depends upon suppliers overall performance and firm's operating model. Here the researcher aims to explore various possible supplier selection models depending upon the nature of the product. This paper reveals the findings of a wide ranging literature review of supplier selection models. The areas that have received less focus are also discussed.

Keywords

Supplier Selection, Competitive Advantage, Weighted Average Method, Total Cost of Ownership (TCO), Analytic Hierarchy Process (AHP), Optimization Techniques
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  • Review of Supplier Selection Models: Key Success Factors and Blueprint of Supply Chain Excellence

Abstract Views: 259  |  PDF Views: 0

Authors

Surajit Bag
College of Management & Economic Studies University of Petroleum and Energy Studies, Dehradun, India

Abstract


In turbulent economic situation, the cost of Production is the key to competitive advantage. To sustain competitive for the long term a firm need to focus on upstream Supply Chain. The Supplier selection has a critical impact on Cost of raw materials, which finally affect the Costs of goods sold. Every firm has their own set of parameters on which they select suppliers. Depending upon their strategies it could be either short/long-term contract which further depends upon suppliers overall performance and firm's operating model. Here the researcher aims to explore various possible supplier selection models depending upon the nature of the product. This paper reveals the findings of a wide ranging literature review of supplier selection models. The areas that have received less focus are also discussed.

Keywords


Supplier Selection, Competitive Advantage, Weighted Average Method, Total Cost of Ownership (TCO), Analytic Hierarchy Process (AHP), Optimization Techniques

References