Supplier Selection Model using Game Theoretical Approach
Keywords:
game; payoff matrix; supplier invitation; supplier selection; game theory model
Abstract
The purchasing function has gained importance in supplier selection of procurement. As the evaluation of the supplier depends on various non-price attributes, formulating the strategy is very important .Every supplier tries to play tactical game in order to win the contract under uncertain situations. In our paper we propose a model through case study to select best supplier using game theoretical approach by applying simplex algorithm.
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Published
2018-07-15
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This work is licensed under a Creative Commons Attribution 4.0 International License.