Decision makers of various disciplines are facing challenges because of vast availability of options in the real world. Even though each and every decision made by a decision maker is being done with a great knowledge and conscience, the decision maker needs suitable support to choose the most favorable option to acquire great results in an agile environment. Supplier selection is imperative for an efficient supply chain management. Many industries are in need of effective decision making tools which aids them in valuable supplier selection. This paper proposes a model using Multi Criteria Decision Making (MCDM) tools viz., Grey Relational Analysis (GRA), Analytical Hierarchy Process (AHP) and Technique for Order Performance by Similarity to Ideal Solution (TOPSIS). GRA is used to shortlist the criteria from the available options, while AHP is used to assign weights to the criteria. The final supplier in the selection process is obtained using TOPSIS. The proposed GRA-AHP-TOPSIS model (GRAHP TOP) is used to analyze and formulate the important criteria and the applicability of the model is tested on a case of a small scale industry located in South India.
Venkata Krishnarao Koganti, Nagaraju Menikonda, Dr. Anbuudayasankar S. P., T. Krishnaraj, Rajesh Kumar Athhukuri, and Mokkapati Sai Vastav, “GRAHP TOP model for supplier selection in Supply Chain: A hybrid MCDM approach”, Decision Science Letters, vol. 8, no. 1, pp. 65 - 80, 2019.