SYSTEM AND METHOD FOR PROVIDING MULTI OBJECTIVE MULTI CRITERIA VENDOR MANAGEMENT

摘要

The present subject matter discloses system and method for facilitating vendor management in procurement process. The method facilitates identification of one or more relevant criteria amongst plurality of criteria. The one or more relevant criteria may be identified either using random forest technique or analytical hierarchical processing (AHP). Further, method is provided for receiving optimal condition for the one or more relevant criteria, a plurality of constraints associated with each of the plurality of vendors, and a plurality of values corresponding to each of the plurality of constraints. After receiving such information, the method is further provided for processing the optimal condition, the plurality of constraints, and the plurality of values using mixed-integer linear programming (MILP) technique in order to obtain an optimal solution. The optimal solution indicates one or more vendors selected from the plurality of vendors during the procurement process.