Nowadays, all market components are competing with each other. Supplier selection among different manufacturers is one of the most important aspects of competition among market participants. In this paper, we study a supplier selection taking into consideration three key criteria: price, quality and delivery performance. A game theory-based model is proposed for the problem in such a way that each buyer tries not only to optimise his/her own problem but also to remove the other buyers from their optimum points. We apply a combination of multi-criteria decision-making methods and an extension of the ordinal game theory to find the Nash equilibrium for selecting the right supplier in a competitive market. The success of this model will be supported by a numerical example.View full textDownload full textKeywordssupplier selection, game theory, ordinal game, competitive market, supply chain managementRelated var addthis_config = { ui_cobrand: "Taylor & Francis Online", services_compact: "citeulike,netvibes,twitter,technorati,delicious,linkedin,facebook,stumbleupon,digg,google,more", pubid: "ra-4dff56cd6bb1830b" }; Add to shortlist Link Permalink http://dx.doi.org/10.1080/0951192X.2012.664785
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