A Model for Strategic Supplier Selection

A Model for Strategic Supplier Selection SUMMARY The purchasing function for some time now has been receiving increasing importance as a critical supply chain management component. This is mainly due to the significant impact of material costs on profits, increased investments in advanced manufacturing and information technologies, and a growing emphasis on Just‐In‐Time GIT) production. The critical objectives of purchasing departments include obtaining the product at the right cost in the right quantity with the right quality at the right time from the right source. This requires executing effective decisions concerning supplier selection and evaluation. This article addresses the supplier selection process. This model for evaluation and selection of suppliers considers multiple factors that include strategic, operational, tangible, and intangible measures. The model also allows for input from a variety of managerial decisionmaking levels and considers the dynamic aspects of the competitive environment in evaluating suppliers. An empirical case illustration demonstrates the efficacy of the model. The results provide interesting managerial implications. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Supply Chain Management Wiley

A Model for Strategic Supplier Selection

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Publisher
Wiley
Copyright
Copyright © 2002 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1523-2409
eISSN
1745-493X
DOI
10.1111/j.1745-493X.2002.tb00117.x
Publisher site
See Article on Publisher Site

Abstract

SUMMARY The purchasing function for some time now has been receiving increasing importance as a critical supply chain management component. This is mainly due to the significant impact of material costs on profits, increased investments in advanced manufacturing and information technologies, and a growing emphasis on Just‐In‐Time GIT) production. The critical objectives of purchasing departments include obtaining the product at the right cost in the right quantity with the right quality at the right time from the right source. This requires executing effective decisions concerning supplier selection and evaluation. This article addresses the supplier selection process. This model for evaluation and selection of suppliers considers multiple factors that include strategic, operational, tangible, and intangible measures. The model also allows for input from a variety of managerial decisionmaking levels and considers the dynamic aspects of the competitive environment in evaluating suppliers. An empirical case illustration demonstrates the efficacy of the model. The results provide interesting managerial implications.

Journal

Journal of Supply Chain ManagementWiley

Published: Dec 1, 2002

References

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