
03/07/2025
Supplier selection is a critical component of strategic supply chain management, particularly when faced with uncertainty and ambiguity. In a recent original article published in the Cureus Journal of Business and Economics, a hybrid multi-criteria decision-making framework is introduced, integrating the Factor Relationship (FARE) method with Grey Relational Analysis (GRA). This combined approach enables a thorough, balanced evaluation of both tangible and intangible factors, including cost structures, quality standards, and sustainability metrics. A chemical industry case study further affirms its practical applicability.
For a more detailed understanding, read the full article.
https://www.cureusjournals.com/articles/1373-assessment-and-selection-of-suppliers-in-uncertain-conditions-hybrid-multi-criteria-decision-making-approach #!/