optimal inspection policy in supplier selection with taguchi loss function

Supplier selection model using Taguchi loss function, analytical hierarchy process and multi-choice goal programming

In recent years, determining the best supplier has become a key strategic consideration in the competitive market. Since the decision commonly involves evaluating different criteria or attributes, supplier selection process is a multiple criteria decision-making (MCDM) problem. This study integrates the Taguchi loss function, analytical hierarchy process (AHP) and multi-choice goal programming ...

Buyer's optimal ordering policy and payment policy under supplier credit

This paper tries to incorporate both Chung and Huang (2003b) and Huang and Chung (2003) to develop the buyer’s inventory model. That is, we want to investigate the buyer’s optimal cycle time and optimal payment time under supplier’s trade credit policy and cash discount policy. Mathematical models have been derived for obtaining the optimal cycle time and optimal payment time for item under sup...

Supplier Evaluation Using Loss Function and AHP

Process of purchase or supply is one of the most important factors of competitiveness of companies. Therefore, the supply managers of companies are expected to select and evaluate the suppliers, to provide the company needs. Evaluation of suppliers based on only one factor is not possible and it is necessary to adopt a method that several factors simultaneously be evaluated. Suppliers can be ev...

Optimal Feature Selection of Taguchi Character Recognition in the Mahalanobis-Taguchi System using Bees Algorithm

The Mahalanobis-Taguchi System (MTS) is a data mining method employing Mahalanobis distance (MD) and Taguchi′s Robust Engineering philosophy to explore and exploit data in a multidimensional system. The MD calculation provides a measurement scale to discriminate sample data and gives an approach of measuring the level of severity among them. One unique feature of MTS lies its robustness to asse...

Optimal Policy with Probabilistic Equilibrium Selection

This paper introduces an approach to the study of optimal government policy in economies characterized by a coordination problem and multiple equilibria. Such models are often criticized as not being useful for policy analysis because they fail to assign a unique prediction to each possible policy choice. We employ a selection mechanism that assigns, ex ante, a probability to each equilibrium i...

Superior Supplier Selection - A Joint Approach of Taguchi , AHP , and Fuzzy Multi -