Artikel

The optimization model of the vendor selection for the joint procurement from a total cost of ownership perspective

Purpose: This paper is an attempt to establish the mathematical programming model of the vendor selection for the joint procurement from a total cost of ownership perspective. Design/methodology/approach: Fuzzy genetic algorithm is employed to solve the model, and the data set of the ball bearings purchasing problem is illustrated as a numerical analysis. Findings: According to the results, it can be seen that the performance of the optimization model is pretty good and can reduce the total costs of the procurement. Originality/value: The contribution of this paper is threefold. First, a literature review and classification of the published vendor selection models is shown in this paper. Second, a mathematical programming model of the vendor selection for the joint procurement from a total cost of ownership perspective is established. Third, an empirical study is displayed to illustrate the application of the proposed model to evaluate and identify the best vendors for ball bearing procurement, and the results show that it could reduce the total costs as much as twenty percent after the optimization.

Language
Englisch

Bibliographic citation
Journal: Journal of Industrial Engineering and Management (JIEM) ; ISSN: 2013-0953 ; Volume: 8 ; Year: 2015 ; Issue: 4 ; Pages: 1251-1269 ; Barcelona: OmniaScience

Classification
Management
Subject
vendor selection
joint procurement
fuzzy genetic algorithm

Event
Geistige Schöpfung
(who)
Pan, Fu-bin
Event
Veröffentlichung
(who)
OmniaScience
(where)
Barcelona
(when)
2015

DOI
doi:10.3926/jiem.1551
Handle
Last update
10.03.2025, 11:43 AM CET

Data provider

This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.

Object type

  • Artikel

Associated

  • Pan, Fu-bin
  • OmniaScience

Time of origin

  • 2015

Other Objects (12)