An approach of genetic algorithm to model supplier assessment in inbound logistics

Abstract

In times of economic crises and increasing market competition, business stability, quality, safety and supply chain flexibility and cost optimization play an increasing role in companies that strive to stay and survive in the market. A wise choice of suppliers, in such circumstances, becomes increasingly important prerequisite for the success of any company. This paper presents a novel model for supplier assessment. The proposed model considers the performance of suppliers classified into several different groups of questions related to all the relevant issues: finance, logistics, competitiveness, quality and level of supplier services. This model can be applied in a variety of companies and for different supplier categories based on their purchase categories and therefore achieve a realistic assessment. © 2013 Springer-Verlag.